Quicken Review: Pros, Cons, Features, and Pricing
Quicken is a budgeting and planning software that helps you manage personal and small business finances. It’s best for individuals, freelancers, and small business owners who need straightforward financial tracking and budgeting solutions. Quicken offers reliable financial management tools in an easy-to-use format.
Quicken addresses common pain points such as budgeting, expense and net worth tracking, and financial planning for individuals and small teams. In this article, I'll cover Quicken's features, pros and cons, use cases, and pricing to help you decide whether it aligns with your financial management needs.
Quicken Evaluation Summary
- From $5.99/month (billed annually)
- Free demo available
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Quicken Overview
In my opinion, Quicken is a solid choice for personal and small business financial management. It offers a user-friendly interface and effective budgeting tools, making it ideal for individual users and small teams. While Quicken excels in ease of use and value for money, its onboarding and customer support could be improved. Compared to other finance tools and software, Quicken delivers essential features effectively but falls short in terms of advanced integrations and customization options. It's best for those looking for straightforward financial tracking without the complexity and cost of larger enterprise solutions.
pros
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It’s easy to use, making it accessible for you or your team.
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It offers strong budgeting tools for personal and small business finances.
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It provides reliable financial tracking for your work.
cons
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It lacks advanced customization options for your specific needs.
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Its onboarding process could be improved.
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It may not offer the best customer support for your work.
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How We Test & Score Tools
We’ve spent years building, refining, and improving our software testing and scoring system. The rubric is designed to capture the nuances of software selection and what makes a tool effective, focusing on critical aspects of the decision-making process.
Below, you can see exactly how our testing and scoring works across seven criteria. It allows us to provide an unbiased evaluation of the software based on core functionality, standout features, ease of use, onboarding, customer support, integrations, customer reviews, and value for money.
Core Functionality (25% of final scoring)
The starting point of our evaluation is always the core functionality of the tool. Does it have the basic features and functions that a user would expect to see? Are any of those core features locked to higher-tiered pricing plans? At its core, we expect a tool to stand up against the baseline capabilities of its competitors.
Standout Features (25% of final scoring)
Next, we evaluate uncommon standout features that go above and beyond the core functionality typically found in tools of its kind. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.
We also evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Tools offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.
Ease of Use (10% of final scoring)
We consider how quick and easy it is to execute the tasks defined in the core functionality using the tool. High scoring software is well designed, intuitive to use, offers mobile apps, provides templates, and makes relatively complex tasks seem simple.
Onboarding (10% of final scoring)
We know how important rapid team adoption is for a new platform, so we evaluate how easy it is to learn and use a tool with minimal training. We evaluate how quickly a team member can get set up and start using the tool with no experience. High scoring solutions indicate little or no support is required.
Customer Support (10% of final scoring)
We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Tools and companies that provide real-time support score best, while chatbots score worst.
Customer Reviews (10% of final scoring)
Beyond our own testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the tool again for the core functionality. A high scoring software reflects a high net promoter score from current or past customers.
Value for Money (10% of final scoring)
Lastly, in consideration of all the other criteria, we review the average price of entry level plans against the core features and consider the value of the other evaluation criteria. Software that delivers more, for less, will score higher.
Core Features
Budgeting Tools: Quicken lets you create and manage budgets easily, helping you track your savings goals. You can set limits for different categories and see how your spending compares.
Expense Tracking: You can track every dollar spent with Quicken’s detailed expense tracking, which categorizes your transactions automatically.
Financial Reporting: Quicken generates clear financial reports that give you insights into your financial health. You can customize reports to focus on what matters to you, such as rental properties.
Bill Management: Quicken helps you track and pay bills on time with its bill management feature. You can view all your upcoming bills in one place.
Investment Tracking: Track your investment performance with Quicken’s investment tracking tools, giving you a clear picture of your portfolio. You can see gains, losses, and market values quickly.
Account Reconciliation: Quicken’s account reconciliation feature ensures that your records match your bank statements. This helps you catch errors or discrepancies in your accounts, including credit card accounts and investment accounts.
Ease of Use
Quicken is user-friendly, making it easy for you to manage your finances without hassle. Its intuitive user interface and straightforward navigation let you access budgeting tools, track expenses, and generate reports quickly. Users appreciate its simplicity, especially when setting up budgets or reconciling bank accounts. Compared to other accounting software, such as QuickBooks or YNAB, Quicken stands out for its ease of use, providing clear instructions and helpful prompts.
Integrations
Quicken integrates with PayPal, Dropbox, Excel, TurboTax, Microsoft Money, Bank of America, and Chase.
Quicken does not have a public API, and it primarily connects through direct methods with financial institutions.
Quicken Specs
- 2-Factor Authentication
- Accounts Payable
- Accounts Receivable
- API
- Balance Sheet
- Billing/Invoicing
- BitCoin
- Budgeting
- Calendar Management
- Contact Management
- CRM Integration
- Customer Management
- Dashboard
- Data Export
- Data Import
- Data Visualization
- Expense Tracking
- External Integrations
- Forecasting
- General Account Ledger
- Inventory Tracking
- Multi-Currency
- Multi-User
- Notifications
- P&L
- PayPal
- Payroll
- SAP Integration
- Stripe
- Supplier Management
- Tax Management
