There are multiple financial management software products to help you monitor and control how money flows in and out of your accounts. Deploying an accounting and financial management solution can enable you to save time and increase efficiency, helping you focus more on core business processes such as production, operations, and customer service. In this article, we will compare Banktivity and QuickBooks to ease your search for an ideal solution for your financial management needs.
What Is Banktivity, and How Does It Support Financial Management?
Banktivity is a subscription-based financial management platform for Mac and iOS devices. The software gives you greater control over your money and helps you make your financial goals easy and achievable. Banktivity provides you with tools, tips, and help documents to help you efficiently plan your financial goals and spend mindfully for greater savings. You can use the software for building a budget, syncing your bank accounts, tracking expenses, paying bills, and monitoring your investments.
How Does QuickBooks Streamline Financial Management?
Designed for small and mid-sized businesses, QuickBooks provides users with real-time access to client, vendor, and employee information. The accounting software features tools for accounts payable, accounts receivable, bookkeeping, invoicing, reporting, and more. QuickBooks Desktop offers you a robust set of features and allows you to upgrade for advanced features that solve the increasingly complex accounting needs of your business. In addition to accounting and financial management, the higher versions of QuickBooks can also enable you to better manage your business with features for payroll, inventory planning, warehouse management, role-based access, and a lot more.
Which Software Can Produce More Benefits for You?
Though there are multiple similar features in QuickBooks and Banktivity, they are designed to meet entirely different use cases. QuickBooks is a robust accounting system with features for financial management, whereas Banktivity is a core financial management software. The latter one lacks strong accounting features and the capabilities for accepting payments, payroll, batch invoicing, and many other business management processes.
Another major difference is that QuickBooks solutions are available for both Mac and Windows users, whereas Banktivity allows you to use the services on only Mac devices. When it comes to reports, QuickBooks solutions provide you up to 130 standard reports depending on the version you select, while Banktivity has 15 simple reports. QuickBooks also allows you to use templates and design your own reports if necessary.
To conclude, most Banktivity features revolve around investment, planning, budgeting, and designing financial goals, while QuickBooks features are focused on tracking and managing your accounts with your customers, vendors, and employees. If you are a freelancer or a solopreneur and looking for personal financial management software, Banktivity can help you to some extent. If you are a business and looking for robust tools to keep track of your business transactions, manage warehouse activities, run payroll, keep your books organized for audit trails, ensure tax compliance, and more, QuickBooks will make a better choice.
Cloud-Hosted Solutions Outperform Their Desktop Counterparts
QuickBooks plays a major role in helping you keep track of money and draw effective strategies for increasing savings and profit, no matter whether you are a solopreneur, startup, or a full-fledged business. QuickBooks can be hosted in the cloud for remote access and scalability. As an Intuit Authorized QuickBooks Host, Apps4Rent offers you curated hosting plans to manage your accounts from anywhere. We can host a wide range of financial management platforms and accounting applications on virtual machines to make them available accessible independent of the operating system on the physical device used to access the solution. Contact our QuickBooks hosting experts, available 24/7 via phone, chat, and email for hosting plan inquiries.