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Q: Quickbooks or Quicken ( Answered 5 out of 5 stars,   0 Comments )
Question  
Subject: Quickbooks or Quicken
Category: Business and Money > Accounting
Asked by: lucyfur-ga
List Price: $5.00
Posted: 14 Mar 2003 13:47 PST
Expires: 13 Apr 2003 14:47 PDT
Question ID: 176273
I am a real estate investor who specializes in developing and
financing mobile home lots. No payroll, No employees. For help I use
only subcontractors. For bookkeeping should I use Quicken or
Quickbooks? Why? Thx.
Answer  
Subject: Re: Quickbooks or Quicken
Answered By: taxmama-ga on 14 Mar 2003 13:54 PST
Rated:5 out of 5 stars
 
Dear Lucyfur,

If you're in business, then pick the tool that's designed for business. 
Even the lowest level of QuickBooks is better for running a business
than Quicken. Quicken is really a personal finanial management tool.
And it's really good for that purpose. 

Yes, I know. Lots of people use it for their businesses. And they've
adapted sophisticated charts of accounts to make that work for them. 

But, for business purposes, the reports are hokey. The terminology
is all wrong. So, when your banker asks you for a report, Quicken
calls it something else. 

QuickBooks will give you a double-entry set of books, painlessly.
You'll be able to get proper Profit and Loss Statements, Balance
Sheets, General Ledgers. And more. 

For the few dollars difference in price - go for the business tool. 

This is coming from someone who has been working with both tools
since they were in DOS form. (And I have at least 3-8 versions of
each on my computers...to accomodate different clients.)

Best wishes,

Your TaxMama-ga
lucyfur-ga rated this answer:5 out of 5 stars
Great answer. Just what I was looking for.

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