Finding the Ideal Bookkeeping Software for Self-Employed Independent Contractors

As a self-employed independent contractor, keeping track of finances can sometimes feel overwhelming, especially when trying to determine the best Bookkeeping software to meet your needs. If you’re an LLC taxed as an S-Corp, and your workload consists of a handful of monthly 1099 earnings along with basic expenses, you might be searching for a solution that’s straightforward and budget-friendly.

Understanding Your Needs

In my case, I provide healthcare services and manage payroll for myself using Gusto. The main challenge I face is finding a Bookkeeping platform that simplifies my financial reporting for my accountant without the complexity of expansive features I don’t require. My financial activities are relatively uncomplicated: I receive 1099 forms from various facilities I contract with and handle a small amount of business expenses. No need for inventory management, invoicing, or sophisticated time tracking!

Criteria for Choosing Software

When looking for the right bookkeeping software, here are my main criteria:

• Simplicity: I’m not looking for a feature-heavy platform. A software that allows me to manage a few transactions seamlessly would be ideal.
• Affordability: I want to avoid monthly fees that can quickly escalate, like the $35 per month associated with QuickBooks Simple Start.
• Mobile Accessibility: An intuitive iOS app that allows me to manage my finances on-the-go is crucial.
• Bank Integration: It’s essential for the software to connect with my bank and credit card accounts for streamlined transaction tracking.

Possible Options

Currently, I’m considering Wave and Zoho Books as viable solutions. Both options seem promising, but I’m keen to explore which one offers the best experience for my specific requirements.

Conclusion

If anyone has experience with Wave or Zoho Books, I would love to hear your insights. My goal is to find the most efficient and uncomplicated bookkeeping software that makes tax time a breeze for my accountant. Thank you for your recommendations!