Supplier invoices

hi how do you track invoices in ynab ?  we purchace items for our business and dont pay them for 60 days as this is how we get paid (in the uk) so how do i track these in ynab ?

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  • Use a small business accounting package, not YNAB.

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  • One approach is to use a Tracking account as an Accounts Receivable register. Enter the invoiced amount directly in that account. When paid, record in checking as a transfer from the AR, categorized as To Be Budgeted.

    However, you may find that a dedicated business accounting tool provides other things you might want.

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  • Hi martin farrow !

    When you have a moment, heck out this article on how to set up a business budget. It goes in details about the approach dakinemaui mentioned.

    We also have a number of business blog posts that Jesse has written!

    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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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 7 mths ago
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      Faness YNAB is not capable of the majority of what is required of a small business accounting package, and I don't think they should even try to push it. You might be able to pull it off if you are a trained accountant in the same way they can get away with a basic spreadsheet, but there's no robust A/R and A/P functionality or invoice and inventory, and asset/depreciation management. You can't run a Balance Sheet or Cash Flow analysis by dates. But at least there's a P&L (Income vs. Expenses).

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    • nolesrule 

      We actually run YNAB the company on YNAB the software. I know there are a number of programs out there specifically tailored for business use, but it is possible with YNAB and we have a Using YNAB for Small Business workshop to help. :)

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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 7 mths ago
      • 1
      • Reported - view

      Faness Yes, it can be done, but that doesn't mean it should be done. As an experienced small business owner, I can assure you that a real small business accounting package is much better at running a small business with less effort, and one should be trying to reduce the amount of time spent dealing with business finances, as that is a source of expense (time/labor), not a revenue generator.

      YNAB isn't even willing to provide some of the basic functionality required in a robust personal finance program. It falls well short of what is needed for a business finance program, so let's not even try to pretend.

      I use YNAB for my business budget, which requires double entry along with Quickbooks, but I would not stop using Quickbooks s my primary financial package.

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