Quicken Home & Business vs. Quickbooks

[GL]

Can somebody explain what each is useful for and the differences between the two? I've scoured the website of both products, and even talked to a customer service representative for Quickbooks who said she didn't know about Quicken. I asked her if I called Quicken support (I already own Quicken Deluxe 2002), would they know about Quickbooks. She said no. So I can't get this relatively simple question solved by Intuit.

There's an option to unlock Quicken Home & Business in the Deluxe version and I was thinking of doing that. But I'm not sure if it would be better for me to simply use Quickbooks for the business in addition to Quicken for my personal finances.

Thanks in advance.

 

[bbates]

GL, good question.... I have used both and still do. I have currently gone back just to useing Quicken. With Quicken most features are automatic and require little or no intervention on the users part. Wiht QuickBooks, the user MUST get into the inner workings during setup as there is little performed automatically for the user. Also in QuickBooks, there is a very definite order for entering data to achieve accuracy for any reports the user may desire. Speaking of reports, both programs are very full featured in this area. They can give you a report on just about ANY aspect of your finances with very litttle trouble for the user.
Quicken is single user. QuickBooks is multi user capable but requires copies of the EXPENSIVE software on any machine that will access the master QuickBooks database file for your organizations financial records/data.
If it is to be used in a commercial environment with a fairly nice yearly income and lots of transactions then go with QuickBooks. If you have an office person that does the accounting work for you, then QuickBooks would probably pose no probems for him/her. It also provides a function for putting everything onto floppys for your outside auditor if you so desire.
The biggest complaint I have with quickbooks is the COST. It is an excellent software package and the online help system is superior.
I hope this answers most of your concerns. There will probably me more to respond anyway.
Next time you call Intuit, ask to speak to a person knowledgeable with both packages. They are very customer oriented. May take a bit to get past the call screening process but it will work.
Oh, by the way......BOTH programs interface with TAX preperation software packages from several sources and most online banking services.
Best of Luck
Bill

 

[gsaldivar]

H&B Suite Information

H&B Feature Sheet

QBP "Basic Edition" Feature Sheet (Tons of Screenshots)

I doubt this information is new to you, but I hope it helps you determine the differences between the packages. In my opinion, if you are going to be using the software more than 5 times a week, the learning curve won't present much of a problem for you. I'd recommend biting the bullet and going with Quickbooks Pro now, rather than waiting a few months until you outgrow H&B and end up buying QBP on top of H&B.

If you spend some time with the screenshots in the QBP link above, I hope the differences in the two packages will become clearer for you. Talk to Intuit and see if there is a trial version of each software you can get to evaluate the different packages for your own. Also you might see if there is a trade-up program to QBP, if you discover that H&B doesn't quite meet your needs.

Please post back and let us know what you decided!

Good Luck...

 

[GL]

Thanks both of you! I wasn't sure if anybody would actually get around to answering this thread.

I still have a few questions though! I took a few accounting courses in high school, so I'm familiar with basic accounting principles. Is QuickBooks more of an accounting package than Quicken H&B? This is a very small business (I'm still a student and it's more of a side thing). So I'll be doing all the accounting. I'm familiar with how to do basic accounting (i.e. journals, ledgers, income statements, balance sheets, etc.). There won't be very many transactions to track for a few years. Both software packages claim to keep track of all accounts. Now, I read this as the accounts that would be in the ledger - not necessarily bank accounts, but accounts to hold other assets (i.e. office equipment like any computers I buy).

To me, Quicken is more of a financial analysis tool than an accounting package. Am I right in thinking Quickbooks is more of an accounting package? As I said, there is a lot of feature-overlap between the two which makes choosing between them difficult. Both help you create and track invoices, do cc payments, generate financial reports like balance sheets, etc. I suppose I'm looking for an accounting system that gives me those basic income statements, balance sheets, etc.

I have a trial version of Quickbooks coming in the mail already, and I'll try it out. But I won't have a trial version of Quicken H&B - maybe I should call and ask. Since I already have Quicken Deluxe, it'll only cost me ~$20 for me to unlock H&B, whereas Quickbooks would be a lot more costly.

Thanks again.

 

[bbates]

Sounds like Quicken would do the task you want. It provides all the reports you desire and then some. All are customizeable to your desires and needs.
Quicken is not picky about the order in which data is entered. It will give accurate amounts no matter what order data is entered into the system. With QuickBooks there is a specific order of doing things or it will throw off the balance totals in some of the reports it produces. The HELP system is complete and very useful though and provides all the info on how to avoid those pitfalls.
I chose quickbooks only because it was a gift and it allows me to become familiar with it in a "non critical" environment. When the time comes that Quicken will not do the job, I will feel comfortable enough with quickbooks, that I won't worry about the tax man or investors.
The QuickBooks demo is really good.
Good Luck
Bill

 

[GL]

Thanks again, I suppose I'll upgrade my Quicken to H&B. I guess I can always compare it to the trial version of Quickbooks anyways. But from the sounds of it, Quicken will be a better bet.

 

[JuliaWR]

QuickBooks is a good and popular solution, but not necessary the best option for everyone. Quicken is suppose to be simplier. You can check this comparison table to easy spot the differences:

http://bit.ly/162a2lH

Also, you might take a look at this list of more than 250 accounting solutions. I encourage you to first take advantage of the free trials. In the end, there’s no substitute for experience.

http://www.getapp.com/accounting-software

 

[fritzfield]

Wow

 

[ringtail]

Target user:

Quicken = a person
Quickbooks = a business

​

Free alternatives:

too many to count. Like ants.
​

Suggested FREE alternatives I've used:
(these FREE alternatives are AT LEAST as good as Quicken/Quickbooks, but only IF you're willing to put in time to learn them)

for Quicken: PL Cash PL stands for Paul Lutus, a polymath genius who gives away lots of SUPERB programs at http://www.arachnoid.com/

for Quickbooks: Gnu Cash German program is excellent IF you're willing to invest time to learn it
​

I've used them all. Currently experimenting with the free Wave Accounting, but we're only half-way satisfied with it so far.

 

[fritzfield]

An early resurrection, huh. Easter is actually in 2 weeks, not today. Did anyone click on the above link?

 

[RLGL]

I had a small business for years. Used Quicken for personal and QB for the business end. QB had more options for the business part of things