With everything revolving around software programs these days, accounting field has also not remained untouched by its impact and power. Not to forget its contribution in going paperless. Name any area or field and you would find everything centralized and easily accessible. To suite your requirement there are varied accounting solutions available in the market. The confusion lies in picking the right fit for your organization. The confusion increases when you find two similarly named accounting solutions like QuickBooks and Quicken.
When you go through both names starting with ‘Quick’ in first glance, both of them appear to be similar. As Quicken and QuickBooks were both introduced by Intuit Inc. in the market, this becomes the second reason of confusion in people’s minds. However, the fact is that QuickBooks came much later after Quicken has gained popularity in the market. The third reason is the success of both accounting solutions in their respective segments. However, opting between them is not a tough task if you can understand their purpose and what they have to offer you.
Quicken was first released in 1983 as a personal finance management tool i.e. its primary motive is to help the individual users to manage their finances. Single-entry accounting capability is followed by the software that serves the personal accounting needs such as listing and tracking financial transactions. Intuit sold Quicken later to H.I.G Capital in 2016.
|Current Owner||H.I.G. Capital||Intuit Inc.|
|Supported OS||Windows & Mac||Windows & Mac|
|Current Versions||Quicken Deluxe, Quicken Starter, Quicken Rental Property Manager, Quicken Home & Business and Quicken Premier||QuickBooks Accountant, QuickBooks Enterprise, QuickBooks Premier, QuickBooks Pro|
|Recommended For||Personal Finance Management||Small & Mid-size Business Accounting Operations|
|Accounting Capability||Single Entry||Double Entry|
|Cloud Version||No||Available as QuickBooks Online|
|Invoice and Tax Feature||No||Yes|
|File Format||*.QDF||*.QBM, *.QBA, *.QBW|
QuickBooks was first released by Intuit Inc. in 1998 as accounting software, almost over a decade after Quicken. QuickBooks targeted primarily the small and mid-sized businesses that have complex accounting requirements. It is available in various versions that encompass versatile features and options to simplify the entire accounting operations such as maintaining payroll and preparing taxes, etc. Due to its ease of use and versatile features, it has widely covered 85-90% business accounting market of USA.
Quicken and QuickBooks: Is it the Same Thing?
QuickBooks and Quicken are distinct software programs where both encompass different set of features and operations targeted for different set of audiences. However, this does not imply that you should go for QuickBooks over Quicken for your business. There are certain businesses for which Quicken is the right solution where as QuickBooks proves to be a better choice for businesses that have numerous invoices to be prepared and send.
To bring more clarity on which product to choose among QuickBooks and Quicken for your respective purpose and requirements, you may call on 1-800-945-0645 for further details.