Product Overview of Quicken
Quicken is a comprehensive personal and business financial management software that has been a trusted tool for over 40 years. Designed to help users track, manage, and optimize their financial activities, Quicken offers a range of features and functionalities that cater to both individuals and small business owners.
What Quicken Does
Quicken enables users to centralize their financial data, providing a single platform to manage bank accounts, investments, bills, credit cards, and other financial obligations. It automates many financial tasks, offers advanced reporting and planning tools, and ensures data security with robust encryption.
Key Features and Functionality
Subscription Plans
Quicken offers several subscription plans tailored to different needs:
- Simplifi: Designed for individuals with simple financial situations, this plan includes mobile notifications and basic financial tracking.
- Classic Plans: These include Deluxe, Premier, and Business and Personal tiers. The Deluxe plan is ideal for individuals planning for future goals, the Premier plan is suited for those with investments needing analytics, and the Business and Personal plan is designed for small-business owners, offering features like custom invoicing and business-related tax schedule prepopulation.
Financial Management
- Automated Transaction Tracking: Quicken automatically downloads and categorizes transactions from your bank accounts, helping you track spending trends and stay on top of your finances.
- Budgeting and Savings: Users can create flexible budgets, set savings goals, and receive suggestions based on their spending history. The software also helps in identifying opportunities to save money and invest more for retirement.
Investment and Portfolio Management
- Investment Tracking: Quicken allows you to view and manage your investment accounts, including retirement investments, in one easy-to-use dashboard. It provides up-to-the-minute portfolio values and helps in making informed buy/sell decisions.
Bill Management
- In-House Bill Paying: Quicken enables users to pay bills directly from the dashboard, supporting payments to a wide range of payees such as Netflix, AT&T, and mortgage lenders.
Reporting and Planning
- Advanced Reporting: Quicken offers customizable reports that provide detailed insights into various financial areas. The “Lifetime Planner” tool helps users plan for long-term goals such as retirement, buying a home, or having a child. It also allows for ‘what-if’ scenarios to forecast financial performance in different conditions.
Business Tools
- Small Business Features: The Business and Personal plan includes specialized tools like custom invoicing, separation of personal and business revenue, property value tracking via Zillow, and prepopulation of business-related tax schedules.
Data Accessibility and Security
- Multi-Platform Access: Quicken data can be accessed via desktop, web, and mobile apps, ensuring that your financial information is always up to date and available across different devices.
- Data Security: Quicken protects your financial information using robust 256-bit encryption and provides a Data Access Guarantee, ensuring you always have full access to and ownership of your data.
Educational Resources and Support
- User-Friendly Interface: Quicken is designed to be novice-friendly, with an intuitive interface and extensive educational resources, including guides, tutorials, and online forums. Users also have access to free, one-on-one live onboarding support.
In summary, Quicken is a powerful financial management tool that offers a comprehensive suite of features to help individuals and small business owners manage their finances effectively, plan for the future, and make informed financial decisions.