Quicken vs. QuickBooks for Small Businesses
The best accounting software program for you comes down to the type of small business you run. Quicken Business & Personal (QBP) may work for a small side business, but QuickBooks products are designed for entrepreneurs who need a more comprehensive accounting toolkit.
Verdict: Which one is right for your business?
Ultimately, the software that’s right for you will depend on your business’s unique needs. Here’s a closer look at when you might want to consider each option:
When to use Quicken
- If you want software that can also help you manage your personal finances
- If you run a primarily invoice-based small business
- If you need to be able to accept payments online
- If you want to track financials for investment properties you own
When to use QuickBooks
- If you want accounting software that’s dedicated to just managing your small business finances
- If you need more robust financial reporting capabilities
- If you need to track mileage or time
- If you need to integrate with other small business software
Quicken vs. QuickBooks: Cost, features and more
Both Quicken and QuickBooks offer several different versions to meet the needs of a diverse customer base. Below, we’ve compared a few of the most popular programs from Quicken and QuickBooks. Note that the prices may occasionally be discounted.
Quicken vs. QuickBooks
| Quicken Business & Personal | QuickBooks Simple Start | QuickBooks Plus | |
|---|---|---|---|
| Available on both Mac and PC? | Yes | Yes | Yes |
| Price This is the full monthly price, not including any discounts or introductory offers | Full price of $95.88 per year, billed annually | $38 per month | $115 per month |
| Free trial | No | 30-day free trial | 30-day free trial |
| Pros |
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| Cons |
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| Multi-user capabilities | No | 1 user and 1 accounting firm | Includes 5 users and 1 accounting firm |
| Mobile app for iOS and Android | Yes | Yes | Yes |
| Integrations |
| QuickBooks integrates with over 800 popular business apps (some may not work with Simple Start) | QuickBooks integrates with over 800popular business apps (some may not work with Plus) |
| Payroll | No | Available for an additional fee | Available for an additional fee |
| Support | Phone, live chat, community forum | Phone, live chat, community forum, video tutorials | Phone, live chat, community forum, video tutorials |
| Inventory tracking | No | No | Yes |
| Scalability | No | Yes | Yes |
| Ease of use | Yes | Yes | Yes |
| Receipt capturing | Yes | Yes | Yes |
Quicken programs
Quicken Business & Personal is just one Quicken version available to users. Here’s a look at the various Quicken plans available to customers and who they’re best suited for. Note that the prices may occasionally be discounted.
Quicken Business & Personal
- Good for: Sole proprietors, owners of rental properties
- Bad for: Business with employees or lots of inventory
- Price: Full price of $95.88 per year, billed annually
Despite the product’s name, Quicken lists Quicken Business & Personal as a personal finance product. That’s because the company focuses on individuals who want to manage their household finances but may also have a few rental properties or a side hustle to track.
QBP might be a good fit for sole proprietors who prefer a single place to track business and personal expenses. Rental property owners, for example, can manage lease terms and rental rates, as well as track outstanding and paid rents and other items.
Quicken Business & Personal is an online application, but if you’d prefer to keep information stored locally on your computer, Quicken Classic Business & Personal is available as a desktop application.
Quicken personal finance programs
- Good for: Individuals who want a better handle on their finances
- Bad for: Owners of businesses and rental properties
- Price: Starting at $71.88 per year, billed annually
Other Quicken plans track your personal finances rather than small business or rental income. Here’s a look at these options and some of their stand-out features:
- Quicken Simplifi. Designed for people who want to monitor their spending and work toward savings goals. With helpful dashboards and notifications to alert you to unusual transactions and nearing spending limits, it can help you keep tabs on your money and save more.
- Quicken Classic Deluxe. Quicken Deluxe offers tools for budgeting and running different scenarios to see the impact of your financial decisions, like paying down debt or contributing more to your retirement accounts. It also simplifies tax filing by allowing you to generate reports and export them to TurboTax or email them to your tax preparer.
- Quicken Classic Premier. Quicken Premier offers all the features of Quicken Deluxe, plus tools to help you with investing decisions, additional tax reports and the ability to track and pay bills in the app.
QuickBooks programs
QuickBooks offers various plans to meet the needs of businesses of various sizes. However, none of its products are designed to track personal finances.
With add-on features like payroll and integrations with hundreds of other popular applications, it can meet the needs of just about any small- to medium-sized business. Note that the prices may occasionally be discounted.
Simple Start
- Good for: Small business owners who charge sales tax on purchases and send estimates to customers
- Bad for: Businesses that need to track time and pay 1099 contractors
- Price: Starting at $38 per month
Simple Start includes accounting, expense and bill pay and sales features, as well as the ability to manage sales tax, generate general reports and send estimates.
Essentials
- Good for: Service-based business with multi-currency transactions
- Bad for: Inventory-heavy business
- Price: Starting at $75 per month
Essentials is ideal for service-based business owners who want to record transactions in multiple currencies, need to schedule appointments and track time for contractors.
QuickBooks Plus
- Good for: Wholesalers and retailers that need to manage inventory
- Bad for: Businesses with sophisticated accounting needs
- Price: Starting at $115 per month
The price of QuickBooks Plus jumps to $115 per month — noticeably pricier than the Start and Essentials plans. It offers useful features for product-based businesses, such as tracking inventory and hosting budgeting capabilities.
QuickBooks Advanced
- Good for: Larger accounting teams with more sophisticated accounting needs
- Bad for: Very small businesses and sole proprietors
- Price: Starting at $275 per month
QuickBooks Advanced is the top-tier version of QuickBooks Online. In addition to all of the features offered by Plus, it provides custom report building, revenue recognition and forecasting capability. It can support up to 25 users.
QuickBooks Online offers a free 30-day trial. Users may opt to skip the free trial and enjoy 50% off their subscription fee for three months.
QuickBooks Desktop
- Good for: Owners of multiple companies
- Bad for: Business owners on the go
- Price: $2,210 per year to $5,354 per year, depending on plan
QuickBooks Desktop shares many accounting features with its online counterpart, but with slight differences. Desktop-only features include managing the accounting for multiple companies, intercompany transactions and built-in payroll, but you can’t access your account via the mobile app — a feature available with the online version.
This plan offers industry-specific solutions that certain businesses may find useful. For example, construction businesses can use job cost tracking.
There are three QuickBooks Desktop Enterprise plans that you can choose from:
- Gold: Allows for up to 30 users, advanced reporting and multi-company management
- Platinum: All of the Gold-level features, plus advanced payroll and inventory features, bill and purchase order workflow approvals and intercompany transactions
- Diamond: Provides all the features of the Platinum level, but allows up to 40 users, offers discounted payroll services and provides QuickBooks Time Elite
Other accounting software options
QBP and QuickBooks Online and Desktop are just three potential business accounting solutions among many. If neither small business accounting software company fits your needs, consider these free and paid alternatives:
Freshbooks
- Pro: Track an unlimited number of expense transactions
- Con: Adding more than one user results in an additional monthly fee
- Consider: If you need basic income and expense tracking
Like QuickBooks Online, FreshBooks is a cloud-based accounting software ideal for service-based businesses. After a 30-day free trial (no credit card required), a FreshBooks subscription starts at $21 monthly for the Lite Plan, which includes unlimited expense tracking. You can receive payment via credit card or bank transfer for up to five clients. You can save 10% off the monthly subscription by opting for an annual subscription.
Freshbooks Payroll, powered by Gusto, a payroll and HR software solution for small businesses, is available as an add-on starting at $40 plus $6 per person monthly.
Wave Accounting
- Pro: Integrated payroll and budgeting features
- Con: Steep learning curve for small business owners
- Consider: If you already have some knowledge of small business accounting
Sage Intacct is another online software that lets small business owners automate their accounting processes, streamline payroll and compare spending to their budgets. Sage Intacct also integrates with other common business tools and applications to reduce duplicate inputs and provide greater visibility into the entire organization.
Frequently asked questions
Quicken offers software with personal finance management tools. It’s available online on your Windows or Mac computer. Quicken and QuickBooks were originally sister companies owned by Intuit until H.I.G. Capital acquired Quicken in 2016. H.I.G Capital sold Quicken to Aquiline Capital Partners in 2021.
QuickBooks is a software that offers accounting and payroll tools to small businesses, including invoice and inventory management. Depending on which product you purchase, QuickBooks can be an online cloud-based software or software downloaded directly onto your computer.
Quicken typically focuses on personal finances and is ideal for those with side businesses, including rental real estate properties. With Quicken, you can manage rental properties, create customized budgets and monitor your investments. QuickBooks is generally better suited for small- to medium-sized businesses with more robust accounting needs.
If your needs are specific to personal finance or you operate a sole proprietorship, Quicken may be easier to use, as it doesn’t contain the myriad of accounting tools that QuickBooks offers. However, both Quicken and QuickBooks may require a learning curve if you’re brand new to the software.
Fortunately, Quicken provides a Getting Started guide after downloading the software to your computer. QuickBooks offers classes and has an extensive library of online video tutorials to help you learn how to use QuickBooks online.
Choosing between QuickBooks Online or downloading the desktop version boils down to pricing and accessibility. QuickBooks Online is cloud-based, making it easy to access anywhere with online connectivity but it charges a monthly subscription. QuickBooks Desktop lets you operate the software offline.
QuickBooks was intended as an accounting solution for businesses, but it is also a possible (and more costly) option for home and personal use. Depending on which plan you choose, you can track income and expenses, organize receipts and manage cash flow.
Prices current as of publication date.
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