S Corp

Is anyone using YNAB with an S Corp?

I'm doing the books for my husband's service type business that was set up as an S Corp 4 years ago.  I've been using Quickbooks for 3 years, but I hate it.  At the 3 year mark (December), I have to decide whether to renew for another 3 years or switch to something else.

I started with Quickbooks because it would help me with doing payroll--just for my husband and I, no other employees.  S Corps are required to have the owners on payroll and paying payroll taxes.  I'm pretty sure I can do that on my own now.

I've been using YNAB for our personal finances for at least 6 years (not sure quite how long).  I would much prefer using YNAB for the business also, but not having access to the accounting reports makes me nervous.  Do any of you do these on your own also (balance sheet, profit & loss, trial balance, etc...)?

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    • nolesrule
    • Stealing From the Future fix is an improvement but is incomplete....
    • nolesrule
    • 1 mth ago
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    • Reported - view

    YNAB makes for a terrible accounting package. I used Quickbooks for my S Corp (I switched back to sole proprietor a few years ago). I used YNAB for the budget but would never dream of it for managing the actual books. it doesn't handle more complicated accounting scenarios very well.

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  • Except for *maybe* a sole proprietor or one-member LLC, I wouldn't use YNAB for business finances.

    I have had excellent experiences with Xero.com which is much easier to use than Quickbooks, and quite feature-rich. For most small businesses, it's also less expensive than QB. (No affiliation, just happily using the service for a small business and a nonprofit.

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      • Green Beat
      • Green_Beat.18
      • 4 wk ago
      • Reported - view

      HedgeMage so how does that work?  do you keep two sets of books?  Your YNAB budget books and then a set for business finances?  I've run my small biz off of YNAB for almost 7 years but we have really started to grow and I'm finding it so painful to have to run reports.  I desperately want YNAB to do it all and not have to get another piece of software if I can help it. 

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