YNAB vs. Quickbooks

Can anyone tell me why I should use one over the other. I will be working with a small online marketing business.  Payroll is to independent contractors, not employees.  There will be merchandise and they will put on conferences, but other than that I don't think it's too complicated. Can this work with YNAB or is Quickbooks the best choice? Why?

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  • YNAB is a budgeting program, not a small business finance program. I would and do use Quickbooks for my business. It's better suited to the necessary financial reporting as well as dealing with AR/AP.

     

    Or maybe I misread that.... Are you running the business or a contractor?

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  • As nolesrule said, there's a case for using both. I have run a business using YNAB solo, but if you have independent contractors, merchandise (guessing inventory, right?) and such, then definitely need bookkeeping software. Per the IRS, if you have inventory, you have to use the accrual system (at least that's what my CPA told me, check with yours!). YNAB is amazing and you'll want to use it as a cash management system, but it's not built to replace QBO or other bookkeeping software, it's meant as an additional tool. Hope that helps!

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  • We use both. YNAB for cashflow management and QB for reporting. I agree with Noles and add that you may want job costing and other data as your business grows.

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