What are the differences between the new cloud Business option and Classic Business (Mac)?

A Pensive Panda
A Pensive Panda Quicken Windows Subscription Member ✭✭
edited November 15 in Before you Buy

I could not find a comparison of the two products to understand what the differences are. Describing one as "local" and the other as "in the cloud" means little unless the products are identical in all other functionality. Is that the case?

Please provide a breakdown of which business product has which functionality.

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Best Answer

  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod
    Answer ✓

    Thank you for your reply,

    Based on the list you provided, I think that Quicken Classic Business and Personal would best meet your needs because it offers better support for investments and offers more reports/customization options for reports. Note - Please be aware that both products are intended for use in the US and Canada only. You may have difficulty logging into Quicken when outside the US and Canada.

    For the full comparison, based on the items you listed, see below:

    • Both support having multiple accounts marked as business accounts and also support having multiple businesses.
    • Both allow you to create and track invoices.
    • Both offer some support for tax schedule exports. For more information, see this article for Quicken Business and Personal (cloud) https://support.simplifi.quicken.com/en/articles/10180200-reports-with-quicken-business-personal and these articles for Quicken Classic Business and Personal (Mac) https://info.quicken.com/mac/exporting-data-to-tax-software & https://www.quicken.com/support/creating-and-exporting-tax-schedule-report-quicken-mac/
    • Both support multiple types of personal accounts. Quicken Classic Business and Personal offers more features for investment accounts and has more report options.
    • Both support split transactions.
    • Both offer some customizable automatic renaming/categorization of downloaded transactions through the use of rules (Renaming rules & Memorized Payees in Quicken Classic Business and Personal, Transaction Rules in Quicken Business and Personal). Quicken Classic Business and Personal gives slightly more options than Quicken Business and Personal does.
    • If investment details/options is important to you, then Quicken Classic Business and Personal would be the best fit. Support for investment accounts/features is one of Quicken Business and Personal's (cloud) weaker areas.
    • While both offer some ability to customize reports, Quicken Classic Business and Personal offers more report types and customization options.
    • Both offer export options. Currently, Quicken Classic Business and Personal offers more export options.

    I hope this helps!

    Quicken Kristina

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Answers

  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod

    Hello @A Pensive Panda,

    Thank you for reaching out! Unfortunately, the Quicken website doesn't provide a direct comparison between the two. The cloud version of Quicken Business and Personal is Quicken Simplifi with Business and Personal features added. In general, it has fewer features and fewer reports available compared to Quicken Classic Business and Personal.

    This is the link to the page on Quicken.com that lists the general features of Quicken Business and Personal (cloud version) - https://www.quicken.com/products/business-personal/

    This is the link to the page on Quicken.com that lists the general features of Quicken Classic Business and Personal (Note - Some features, like the separate Rental module, are Windows only) - https://www.quicken.com/products/pricing-comparison-classic/

    Are there any specific features/reports you are looking for?

    I look forward to your response!

    Quicken Kristina

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  • A Pensive Panda
    A Pensive Panda Quicken Windows Subscription Member ✭✭

    Thanks, Kristina. I'm not sure what to say until I realize it's missing! I suppose they are:

    • multiple business accounts
    • invoice generation and tracking
    • tax schedule exports
    • multiple types of personal accounts
    • transaction splits
    • customizable auto-renaming, auto-categorization, etc. of transactions
    • investment tracking details
    • customizable reporting
    • Export options like csv.
  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod
    Answer ✓

    Thank you for your reply,

    Based on the list you provided, I think that Quicken Classic Business and Personal would best meet your needs because it offers better support for investments and offers more reports/customization options for reports. Note - Please be aware that both products are intended for use in the US and Canada only. You may have difficulty logging into Quicken when outside the US and Canada.

    For the full comparison, based on the items you listed, see below:

    • Both support having multiple accounts marked as business accounts and also support having multiple businesses.
    • Both allow you to create and track invoices.
    • Both offer some support for tax schedule exports. For more information, see this article for Quicken Business and Personal (cloud) https://support.simplifi.quicken.com/en/articles/10180200-reports-with-quicken-business-personal and these articles for Quicken Classic Business and Personal (Mac) https://info.quicken.com/mac/exporting-data-to-tax-software & https://www.quicken.com/support/creating-and-exporting-tax-schedule-report-quicken-mac/
    • Both support multiple types of personal accounts. Quicken Classic Business and Personal offers more features for investment accounts and has more report options.
    • Both support split transactions.
    • Both offer some customizable automatic renaming/categorization of downloaded transactions through the use of rules (Renaming rules & Memorized Payees in Quicken Classic Business and Personal, Transaction Rules in Quicken Business and Personal). Quicken Classic Business and Personal gives slightly more options than Quicken Business and Personal does.
    • If investment details/options is important to you, then Quicken Classic Business and Personal would be the best fit. Support for investment accounts/features is one of Quicken Business and Personal's (cloud) weaker areas.
    • While both offer some ability to customize reports, Quicken Classic Business and Personal offers more report types and customization options.
    • Both offer export options. Currently, Quicken Classic Business and Personal offers more export options.

    I hope this helps!

    Quicken Kristina

    Make sure to sign up for the email digest to see a round up of your top posts.

  • A Pensive Panda
    A Pensive Panda Quicken Windows Subscription Member ✭✭

    Thanks Kristina. Looks like I'll need to stick with Classic, however it would be great to see Classic get full online support, so users didn't have to rely on a local copy. The last time I used Classic's web/online interface, it was a bit glitchy and did not support most of the functionality nor data in the desktop app.

    Have a good holiday season.

  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod

    You're welcome!

    I hope you have a wonderful holiday season also.

    If you need further assistance, please feel free to reach out!

    Quicken Kristina

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