Whether you are running a small business or a large business, whether you are in the construction firm or in the eCommerce industry, the one thing that you will have to make sure is you are taking care of all your business process with proper seriousness.
If you will be careless about any process of your firm then you will never be able to fuel the growth of your business and all your efforts to make your business successful and profitable will go astray. Well, it is true that most of the businesses out there focus on their sales and marketing, but the most overlooked department in any business is accounting and this is what we are going to address in this blog post.
You should know that proper accounting is the key to success in any industry and you just can't ignore it. With proper accounting practices, you will be able to manage your books properly and thus you will be able to attract investors, keep other stakeholders informed about the financial health of your business and make better and more accurate decisions. There are many things that you can do in order to streamline your accounting department, but if you want to begin on the right foot, then you will have to start your journey by choosing the best accounting software solution out there.
The accounting software that you will be choosing will play a lead role in how you are going to manage your books. The market is filled with different types of accounting software and almost each one of them has its unique advantage. But when it comes to the best accounting software then most of the people are not able to decide between QuickBooks and Quicken.
Both QB and Quicken are the most advanced accounting software that is used by businesses and accounting professionals from all around the world. Both of them have advanced accounting feature and since both of them are very easy to use, most people are not able to decide which one will be better for their business. Well, if you are stuck with such a dilemma then you have come to the right place as in this blog post, we will discuss which accounting software will be better for your small business; Quicken or QuickBooks.
What is QuickBooks?
QuickBooks is an accounting software that is developed and marketed by the famous company Intuit. You should know that QB has been around in the market form quite a long time and that's why it has a solid hold in the market. You will be surprised to know that QuickBooks has more than 85% of market share in the U.S and it is growing at a very fast pace in other parts of the world as well. The best part about QB is it has been designed for small businesses and thus all the features and tools that come along with the accounting software fit in like a glove in the need of small businesses.
There are mainly three versions of QB available in the market; Pro, Premier, and Enterprise. All these three versions have their own advantages and they are perfect for different sizes of businesses. You should know that there are industry-specific versions of the software available in the market as well, but these industry-specific versions are available in Premier and Enterprise version only. You can easily host the QB accounting software on the cloud by choosing a cloud hosting provider as all the three versions of QB are cloud compatible and this is what makes QB one of the best accounting solutions for small businesses.
What is Quicken?
Quicken is a personal finance management tool that is considered almost perfect for small businesses. You should know that Quicken was also a part of the Intuit flagship, but in the year 2006, Intuit decided to sell Quicken to H.I.G Capital. There are different versions of Quicken available in the market for both Windows and Macintosh. Some of the most popular versions of Quicken that you will find are Quicken Deluxe, Quicken Rental Property, Quicken Home and Business, Quicken Premier and Quicken for Mac as well. You can choose the best version of Quicken according to your industry, specific business needs, and requirements.
Just like QuickBooks, even Quicken can be easily hosted on the cloud platform and all that you will need is a cloud hosting provider. You should know that from 2008, all the versions of Quicken have got their release year in their name as before 2008; the company used a numbering system to name the versions. The biggest marketplace of Quicken is in North America but it doesn't mean that this advanced accounting software can't be used anywhere else. You should know that the Quicken accounting software has been tailored to suit a wide array of marketplaces and industries and that's why it is so effective.
QuickBooks Vs Quicken comparison chart
There will be several factors that you will need to consider while making a decision on QB and Quicken, but the main thing that you will need to look forward to will be the growth of your company. If accounting software is not able to offer you the expected growth, then there is no need of spending time on that accounting software solution. This is why you will need to look at which of these two accounting software solutions is able to fuel your growth and provide you the expected result without any hassle.
On one side, QuickBooks is built for small businesses that are planning to grow significantly in the upcoming years and looking forward to increasing the number of employees in their firm. While on the other side, Quicken looks perfect for those small businesses that are not expecting magical growth in the upcoming years, and thus there will be no change in their accounting practices. You should know that both these accounting software solutions are perfect for different types of small business and that’s why we can’t say that which one is best out of them. Just use the mentioned considerations and make the right decision.