CeePrompt! Computer Connection
Originally published September 3, 2001
Quicken for Home & Business
between Quickbooks and Quicken is a jewel of product called Quicken 2002
Home & Business. You won't find it listed under the "best selling
products" on the Intuit home page and it doesn't get the marketing
muscle that Quickbooks or Quicken receives. In fact, you have to dig a bit
into the website to find Home & Business, but you'll find it's a
worthy product among the Intuit arsenal of financial software packages.
Since I've installed and tested this product, I can see that many users
who are struggling to master Quickbooks would find this product much
easier to use and well capable of meeting their business needs.
is a full-figured bookkeeping package that relies on a double-entry system
of assets/liabilities and income/expenses. It's a classic bookkeeping
model that has many strengths and advantages, but it's often overkill for
some smaller companies. It relies on a system of lists for vendors,
customers, inventory items, and employees that must track back to the
appropriate accounts for proper reports.
no such thing as generating a quicky invoice in Quickbooks. First, you
must setup the customer and then the item to be billed. Invoices and items
must each track to the correct asset or income account. When the payment
is received, it must be posted and deposited in separate steps before it
actually appears in the bank register. Paying bills using the accounts
payable routine is equally demanding, but this is a must for many
companies, however, merely want to pay bills, generate invoices, issue
statements and receive payments on a cash basis, without setting up an
elaborate accounts receivable or accounts payable system.
Quicken 2002 Home & Business has all the ease of traditional
Quicken but with a business flair that leaves out the complexities of the
Quickbooks double-entry bookkeeping system.
Home and Business version still generates an accounts receivable register,
for example, but billings and payments are both maintained from this one
register. Since this version does not manage inventory, the invoicing
process is much more streamlined. Customers and items to be invoiced can
be added directly from the invoice screen, without going to the separate
list utility that Quickbooks requires.
and statements can be easily customized to include only the fields you
need. You can choose your own fonts and add company name, logo and memo.
The statements generated by the Home & Business version are
actually much more useful than the ones generated by Quickbooks.
They list a balance forward and history of transactions.
business reports such as Profit & Loss and Balance Sheet statements
can be generated in this version of Quicken. A Schedule C will be created
if the proper tax categories have been assigned to income and expense
categories. A payroll module, QuickPayroll, can be easily added if
desired. It's a standalone payroll utility that writes checks, tracks the
payroll liabilities and automatically generates required forms, such as
940, 941, W-2 & W-3. The
only items that track back to the actual Quicken register are the
deductions from the bank account when the payments for payroll or payroll
liabilities are actually made.
convenient features offered by Quicken Home & Business include
tracking vehicle mileage, creating estimates, tracking projects, and
creating a "mini" business plan. The program is enabled for
online banking and any data you currently maintain in Quicken translates
seamlessly to the Home & Business version.
you don't need the bookkeeping power of Quickbooks, this product is
actually a much better value. Quickbooks
Pro 2001 sells new for $250 and upgrades cost $170. Quicken for Home &
Business sells for $80. If
you're using Quickbooks for payroll, annual tax table updates cost $130 as
compared to $89 for the Home & Business version. Do check with your
accountant to determine the best software product for your business needs.
Cathi Schuler owns a computer literacy training/consulting company, Cee Prompt! She is a co-author of computer textbooks and can be reached by e-mail at firstname.lastname@example.org or email@example.com or by mail c/o The Record, P.O. Box 900, Stockton, CA 95201. She is on the Internet at: http://www.ceeprompt.com. Click here for past archived columns.
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