The Search for Simple Bookkeeping Software: A Guide for Self-Employed Contractors

As a self-employed independent contractor operating under an LLC taxed as an S-Corp, managing your Bookkeeping can seem daunting, especially when your focus should be on delivering top-notch healthcare services. With minimal expenses and straightforward 1099 compensation, it’s essential to find a Bookkeeping solution that’s not only effective but also uncomplicated. After all, not everyone needs the extensive features offered by larger platforms like QuickBooks.

What You Need in Bookkeeping Software

In your case, simplicity is key. You require a user-friendly application that allows for easy collaboration with your accountant without the unnecessary complexity of managing inventory, invoicing, or time tracking. With payroll being processed through Gusto and receiving 1099s from the facilities you contract with, your bookkeeping needs primarily revolve around syncing expenses and income.

Considerations for Choosing the Right Tool

1. Cost-Effectiveness: You’re looking for a solution that won’t break the bank. Monthly fees for some popular software, such as QuickBooks Simple Start at $35, can be a financial burden when your needs are minimal.

2. Mobile Access: As you prefer to manage your finances on the go, a strong iOS app is crucial. An ideal software should allow you to conduct most tasks from your mobile device.

3. Bank Integration: Effortless transaction importation from your bank and credit card accounts will streamline your bookkeeping process, making it easier to track income and expenses.

Current Options on Your Radar

At the moment, you’ve narrowed your options down to Wave and Zoho Books. Both platforms have their advantages and can cater to your precise requirements while avoiding the complexity of heavier software.

• Wave: Known for its free features, Wave could be an excellent choice if you are looking for basic bookkeeping without any monthly fees. It offers functionality such as invoice and expense tracking, alongside bank syncing capabilities.

• Zoho Books: While slightly more robust, Zoho Books offers a user-friendly interface and the ability to customize features to suit your business needs. Its pricing is generally reasonable, making it a viable contender as well.

Conclusion

Finding the right bookkeeping software doesn’t have to be complicated or costly. As a self-employed independent contractor, prioritizing simplicity will not only ease your administrative burden but also enhance collaboration with your accountant. Explore your options between Wave and Zoho Books