Finding the Perfect Bookkeeping Solution for Independent Contractors

As a self-employed independent contractor operating as an LLC taxed as an S-Corp, managing finances can sometimes feel overwhelming. However, it doesn’t have to be complicated, especially if your financial activities are relatively straightforward.

For those of you like me, who primarily deal with a handful of business expenses and receive monthly 1099 compensation, the search for efficient Bookkeeping software can begin to feel daunting. While there are numerous options available in the market, not all of them fit the needs of a busy contractor.

The Quest for Simplicity

I provide healthcare services under a 1099 independent contractor model, and currently handle my payroll through Gusto. As my financial situation is quite simple—limited to 1099 forms from the facilities I work with and a few business expenses—I find that standard solutions like QuickBooks are far too complex and costly for my requirements. I don’t need features such as inventory management, invoicing, or time tracking—just a straightforward platform to keep my books in order.

Ideal Features for My Bookkeeping Needs

I’m on the lookout for a user-friendly bookkeeping solution that won’t break the bank. Ideally, I’m aiming for something under $35 a month, as seen with QuickBooks Simple Start. Furthermore, a robust mobile app would be a huge advantage, allowing me to manage my finances on-the-go. Seamless transaction syncing from my bank and credit card accounts is another essential feature I need to simplify my bookkeeping process.

Exploring Potential Options

Right now, I’m considering two potential candidates: Wave and Zoho Books. Both platforms seem promising, but I’d love to gain insights from others who have experience with these or any other simple solutions tailored for independent contractors like myself.

If you have any recommendations or experiences to share, I would greatly appreciate your insights. Thank you for your help!