Deal with Invoices to be Paid

Hi!

 

I'm starting YNAB for business and had a question with setting up accounts. I have some suppliers that i can pay within month after goods received. How should i account that to remember to pay that bills?

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  • Create scheduled transactions in the account you will make the payment from.

    YNAB is a cash-based allocation budget system and is not designed to handle accounts payable and accounts receivable. I recommend that most business users use an actual business accounting software package in order to better manage the non-budgeting aspects of their business. Yes, it requires double entry of transactions, but it'll be easier to manage the business reporting and tracking needs.

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  • Hi Khaki Pilot !

    I think Nolesrule's suggestion is a great idea! When you have a moment, also check out this article on how to set up a business budget.

    Our founder, Jesse, has written a number of business blog posts, so I'll leave them here:

    Keep in mind that they were created based off of our previous version of YNAB (YNAB 4) so you won't recognize some of the screenshots. The information is all still relevant, though! 

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  • Faness , nolesrule  thank you for answers! 

    At first i tried to set up something like credit card line, but it becomes to complicated.

    We have not so much payments to make. So we will payoff them in july and try to start august without delayed payments.

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  • I have set up many accounts receivable and accounts payable. Just create an unlinked account and set the type for the AR as an asset account and AP as a liability account. You will need to create an account for each client. 

    Just keep in mind that the AR is an asset account so it will have a positive value that represents what they owe you. The AP is a liability account and will have a negative value that represents what you owe them. 

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