Quicken Review: Features, Pricing, Pros & Cons

If you need a balance sheet, you’ll need a double-entry bookkeeping software like QuickBooks Online. Unlike Quicken, it’s purely cloud-based since it has no desktop app. While it doesn’t have features for freelancers, like Quicken Business & Personal, it offers more streamlined personal finance tracking because it has both mobile and web browser access. The Quicken name typically refers to the core product offering of personal financial management software. For powerful, easy-to-use financial management, Quicken Simplifi is your go-to choice. For more robust tools and in-depth features, our Classic line is a great option.

Quicken vs. QuickBooks comparison

Quicken has changed its service to a subscription model, meaning that you can’t just buy the software anymore. Instead, you’ll pay an annual fee to keep accessing the program. Quicken falls in the middle when it comes to pricing compared to NeatBooks and FreshBooks, which charge $40 per month and $19 per month (after six months at $9.50), respectively. For what NeatBooks charges, it doesn’t offer many expanded features except unlimited cloud document storage, which could be a plus if you deal with many receipts.

Alternatives to QuickBooks

• Store business & personal documentation right where you need it.
• Prior to joining the team at Forbes Advisor, Cassie was a content operations manager and copywriting manager.
• For less than $4 per month, you can use Quicken’s lowest-priced plan to manage your personal finances.
• While there isn’t a free trial, there’s a 30-day money-back guarantee.
• After they switched the Mac from PowerPC to Intel processors, Apple continued to support PowerPC-based apps (via Rosetta) on their Intel-based Macs until Mac OS X Lion.
• The Quicken brand had extended to other personal and household areas, including healthcare, but these extra applications are now defunct.

She’s also held roles with CNN Underscored, launching the Travel vertical, and as the Global News Editor at The Points Guy. A native of Upstate New York, she’s traveled to more than 50 countries and currently resides outside of London. Additionally, FreshBooks excels at time tracking, allowing users to record billable hours and automatically include them in invoices.

Accountants and clients can seamlessly view and work on financial data simultaneously. This feature and its real-time reporting capabilities set Xero apart from Quicken. One other type of plan Quicken offers is a subscription to its personal finance app, Simplifi.

Recommended Alternative: QuickBooks

It also lets you split receipts across multiple spending categories—so if you did some personal and business shopping on the same trip, you can separate these expenses easily. These features can help keep your cash flow organized so you can see where your money is going. Quicken lets you calculate profits by tagging bank account deposits as income and bank account withdrawals as expense. If this approach doesn’t work for the small business you’re keeping the books for, you need to use another program. QuickBooks Online is indeed easier to set up compared with Quicken because it is entirely web-based.

For example, many accounting firms and lenders require this more complex ledger style. As a result, the software title may not jibe with your long-term growth goals. The software package can also explore various ‘what-if’ scenarios. For example, small business owners can forecast how their business might perform in a recession. The reporting aspect of Quicken is extensive, offering customizable reports that give detailed insights into various financial areas.

Ignite Spot Accounting

This seamless integration of time tracking and invoicing is a distinct advantage over Quicken. Finally, its user-friendly interface and excellent customer support make FreshBooks a suitable choice for beginners and experienced quicken bookkeeping users alike. Specifically, this more comprehensive competitor is ideal for small-business owners craving more extensive features.

Quicken vs QuickBooks: Which Is Best for Your Small Business?

Bookkeeper.com’s intermediate plan, Small Business Plus, is what you’ll want to consider if you’re looking for strong levels of support and a packed feature list. While that’s pricier than the starter plan—from $659 per month—you’ll get monthly meetings with your dedicated bookkeeper and account manager. While Ignite Spot’s online booking services are a great solution for many businesses, we wish the pricing structure was clearer. Pricing on packages is on a business-by-business basis and is billed as a percentage of your annual revenue.

QuickBooks Online users frequently mention its ease of setup and use, emphasizing its straightforward and intuitive interface. Many also appreciate the wide range of integrations that enhance its functionality. On the downside, some point out the restriction on the number of users, which can be a drawback for growing businesses. This financial combination is highly convenient and beginner-friendly.