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Before we can discuss whether QuickBooks is functional for personal finance management, you need to know: What does QuickBooks do?

The main functions of QuickBooks:

  • Streamline your company’s accounting with an integrated accounting plan and automatic VAT management.
  • Direct commercial management by creating invoices and budgets and sending them to customers.
  • Monitor pending payments or invoices sent. Late payment notifications allow you to send reminders to customers in a timely manner.
  • Manage bank reconciliation: QuickBooks allows you to download your banking operations directly from your account to perform your bank reconciliation. 

QuickBooks is an accounting program especially designed for use by small businesses. QuickBooks offers many versions designed to meet the accounting needs of many types of  small or medium businesses. All versions of QuickBooks have tools for routine accounting including tracking invoices, expenses, customers, invoices and more. 

The QuickBooks Pro edition can create estimates and invoices; track sales, payments, sales taxes and inventory; integrate with Microsoft Outlook and export data to Excel, among some other functions. It can also:

  • Share data 
  • Create more than 100 customizable accounting reports.
  • Manage payroll.
  • Track all your accounts in one place with (QuickBooks Bill Tracker).
  • Provide step by step tutorials.
  • Support up to three simultaneous users.

Therefore, we can say…

All the functions explained above can be ADAPTED for individual use, but it does not take away from the fact that QuickBooks specialization is small and medium-sized companies. Due to its high cost and the complexity of software learning it is counter-productive for the finances of the home. QuickBooks plans are priced in a  manner that precludes individual purchase and use. Additionally, QuickBooks has a steep learning curve that are beyond the needs of personal finance. 

FreshBooks

FreshBooks offers much cheaper plans and is so simple and comfortable to manage that you don’t need any previous experience with this type of software or accounting to manage your finances as an expert. You can plan your personal projects and keep your organization synchronized on all your devices. 

It has robust features which are definitely very helpful for your personal accounting needs. Some powerful features included in FreshBooks are: 

  1. Ease of use. All accounting tasks are done with a few clicks, allowing you to focus more on your work.
  2. Affordable and transparent pricing and packages. Monthly pricing plans are manageable for personal use.
  3. All device access. You may access your FreshBooks account anytime, anywhere with the use of your phone, tablet, or computer. 
  4. Top notch customer support. Any problems you may encounter can be easily resolved with FreshBooks’ great customer support.

FreshBooks is the perfect choice for non-accountants because it provides exactly what they need. Give it a try and experience accounting like you have never experienced it before. Read more about FreshBooks by visiting their website at https://www.freshbooks.com. You can try FreshBooks free for 30 days and see why so many people prefer to use it.