QuickBooks vs Quicken, Which Software is Best for Me?

 

This week I received a call from a potential client saying that their CPA requested that they move from Quicken to QuickBooks.  They needed help with the conversion but they were also curious if it was a good idea to  make the change.  After talking to many potential clients in this situation,  I find that some are great candidates for QuickBooks and some were much better off in Quicken.  Normally I recommend Quicken for Individuals and Property Management firms and I recommend QuickBooks for businesses.  However, I’ve included a summary below so you can decide for yourself.

Quicken is an excellent option for Individuals or businesses tracking personal finances, investments and rental properties. Quicken is available in multiple versions:

  • Deluxe – Least expensive version designed for individuals to manage their personal finances.
  • Premier – Includes Deluxe features and additional features to manage and track your investments all in one place.
  • Home & Business – Includes Premier features and can be used for very small businesses.  Does not include inventory or many of the features included in QuickBooks.
  • Rental Property Manager – Includes the features of Home and Business but it is designed to meet the needs of individuals or businesses that are managing rental properties. 

QuickBooks is an excellent choice for a Business that wants to invoice customers, manage inventory, or produce financial statements. There are multiple versions of QuickBooks that businesses can choose from to meet their needs:

  • QuickBooks Pro – Least expensive option allows user to manage basic inventory, invoice customers, calculate payroll, and it provides standard reports and the ability to customize reports.  I usually recommend this for very small business with a small number of transactions.
  • QuickBooks Premier – This product has industry specific reports and language to meet the needs of small to medium size businesses.  The industry versions included are General Business, Contractor, Manufacturing & Wholesale, Nonprofit, Professional Services, and Retail.  These versions include all the features of QuickBooks Pro but also have additional features to make the user more productive, industry specific reports and additional inventory features.
  • QuickBooks Accountant – This product has all the features of QuickBooks Premier and additional features designed for bookkeepers and accounting professionals.  It also includes Intuit Statement Writer.
  • QuickBooks Enterprise Solutions – This product  has all the features of QuickBooks Accountant and has additional features to manage inventory, larger files, larger volume of transactions, and more options to create user rights when configuring security.

 I hope this helps in determining which product(s) will meet your needs.  As always please call or e-mail me to get the latest specials on QuickBooks software and add-on services

 

Software Licensing – Better Safe Than Sorry

I was recently talking with someone who needed help with his computer software and mentioned that his new computer consultant had installed software that he had not paid for, and really didn’t even need.  The computer consultant had the product codes and enough registration information from his employer that he was able to accomplish this illegal install.  The person I was talking to told me that the computer consultant worked for a large company and they really did not care if he did this ….REALLY…. Are you kidding me, I can’t believe you would repeat this comment in a court of law! 

I told this individual that the software should be uninstalled immediately and I would perform an uninstall if needed.  Instead I was informed that the computer consultant could do this on his next visit…REALLY…are you actually letting that fraudster back in your door??? 

This is a situation that I see more often than I would expect and I am always surprised who falls for this.  It’s folks who could easily afford the software and are ethical in other parts of their lives and businesses but somehow illegal software downloads are OK.  The fraudster, otherwise known as the computer consultant, is just one 16 digit number away from stealing your credit card number and just one 9 digit number away from your social security number. 

Keep in mind that when you let a computer consultant in the door you are probably giving them a password or two while they are assisting you with your computer and network issues.  You may even grant them remote access.  I have to admit that I have not met this individual  but I can tell you without a doubt they are only  one decision  away from committing a fraud with your information,  it may be a only a matter of time.

As a software reseller and consultant I work with a lot of clients and I sell software and perform installs for some clients.  Recently I’ve spent an increasing amount of time helping clients put their businesses back together after frauds.  These frauds were often committed by long time employees who were trusted and often socialized with the business owners.  Quite often I’m told the owner even attended weddings and other events of these fraudsters.  You never know what decisions a person might make, even after they have a history of making the right decision in the past.  It’s always a good idea to be careful and exercise common sense when dealing with a situation that just doesn’t seem quite right!