Quicken is one of the leading names in the personal accounting software market. Quicken Home & Business, in addition to personal accounting, also provides most of the basic functionality of standard accounting software. Using it, you can easily manage your business and personal accounting tasks in one place. The Home and Business editions support estimates, invoices, accounts payable, contract management, and project management for suppliers and customers. It also has a great rental property management feature through which the user can manage his tenants and properties. Simply put; This is a great solution for small businesses that want to take control of their business and personal accounting.
Read: How to Create a Budget in Quicken And Track Your Finances
Defining Features of Quicken Home and Business
The software offers various new features, including viewing balances, tracking spending trends, and checking investment performance. You can also sync your data across the web, mobile, and desktop. It simplifies the management of your small business or rental property. You can create your own invoices and set up email fare reminders with custom invoices. You can also track rental income, rates, rental terms, and deposits.
That’s why Quicken Home and Business reviews are excellent, with many ratings close to 4 stars. Here are some of the notable features of this software.
Dashboard
This version comes with a dashboard that shows spending trends and gives you an overview of your budget. You can also find upcoming bills, savings goals and personal assets. You can check your bank account balance, investments, assets and loans on the left.
Business Center
The Business Center provides a complete overview of your cash flow, profit and loss, and business accounts. Now you can set business reminders and reflect on your spending habits.
Invoice
Quicken Software provides a customizable invoice template. Although it lacks automation such as auto-scheduling and recurring invoicing, it does support refunds, customer credits, and finance fees. It also makes it easy to add notes to each invoice.
An Estimate
The software allows you to send quotes and convert them into invoices. Quotations for projects may also be attached.
Contact Management
Quicken Home & Business has an extensive contact management section. Here you can save both contact information and personal information. It’s also possible to attach documents to your contacts and create contact groups.
Expense Tracking
You have two options: manually enter expenses and income into Quicken or connect to your bank to download them. You can also join the business and personal accounts or separate business and personal transactions if you use one account for both. The software automatically categorizes user transactions and displays trends in your business and personal expenses. It’s also possible to track scheduled transactions to show a picture of your spending balance along with any upcoming expense deductions.
Bank Reconciliation and Accounts Payable
Thanks to the Personal and Professional versions, you can resolve your bank accounts in a jiffy. You can also manage vendor and individual invoices in two ways. You can either log into your lenders online or enter invoices manually. You can also use the ‘Bill Pay’ service and make your bill payments online through the software.
Item
There is no section in Quicken Home and Business to display your items. But you can save it by adding items to a specific invoice. Therefore, you do not need to enter items every time you send an invoice.
Project Management
You can also create projects with this software. Add a project description, custom project status, start date, and estimated and actual end dates. In addition, you can also attach clients and documents to your projects and then generate quotes and invoices for them.
Personal Property Management
It is also possible to add your assets to Quicken. These assets include cars, property, etc. Loans such as loans and mortgages can also be combined.
Rental Property Management
In this version, you can find a rental center where you can find each of your properties, tenants, vacant properties, and payable tents. You can also view your rental profit and loss and create rental reminders. It is also possible to add PayPal links to these reminders.
Tenant Management
Users can easily manage their tenants and save their tenancy and contact details, lease terms, and security deposit details.
Reports
The software provides up to 50 reports to help users analyze their personal finances. Among them, budget and expense reports provide a lot of interesting information. The Home & Business edition provides four additional rental reports and 13 business reports. It also provides functionality to email reports directly from the software.
Track Mileage & Budget
It is possible to track mileage directly from the software. It also allows you to budget by year, quarter or month. When you log into your bank, Quicken will automatically create a budget based on your expenses. You can adjust this budget as needed.
Tax Support
This accounting software provides tax schedule and schedule C reports. It also has a Tax Center where you can view your estimated taxes and stay informed about important tax dates. You can hire a tax planner to estimate your annual taxes. Plus, you can create and save as many sales tax rates as you need.
Import/Export
Data can be imported via QIF, QFX, or CSV files. You can also export reports and files through specialized programs such as QFX, QIF, or Excel.
What Mac. Is there a Quicken for Home and Business edition?
With Personal and Business subscriptions, you can perform your business and personal transactions in the same software. However, there is still no Quicken Home and Business for Mac. Quicken for Mac is missing in the Home and Business versions. You can only get it in Quicken for Windows.
Conclusion
Quicken Home & Business has received good ratings and reviews across multiple boards. People love its new features, especially the one that lets them track rental properties. The easy-to-use software allows people to have complete control over their personal and business transactions and finances so that they can manage them in a better way.