Seeking Simple Bookkeeping Software for Independent Contractors

As a self-employed independent contractor running an LLC taxed as an S-Corp, managing your finances should be straightforward—not overwhelming. If you provide healthcare services as a 1099 contractor and handle payroll for yourself through platforms like Gusto, you might find traditional Bookkeeping solutions to be more complex than necessary.

You’re likely dealing with a few essential components: receiving 1099 forms from the facilities you work with and tracking some basic business expenses. For businesses with no inventory, invoicing, or time tracking, finding a user-friendly Bookkeeping software can save you both time and money.

What to Look for in Bookkeeping Software

When searching for a bookkeeping solution, consider the following:

• Simplicity: The ideal software should be easy to navigate, allowing you to manage your finances without a steep learning curve.
• Affordability: Many popular tools like QuickBooks can be pricey, often starting at around $35/month. You may want to explore more cost-effective alternatives.
• Mobile Accessibility: Since you prefer managing finances via an iOS app, ensure the software has a robust mobile platform.
• Bank Integration: Look for options that allow you to link your bank and credit card accounts for seamless transaction importing.

Your Options: Wave vs. Zoho Books

Currently, you may be considering Wave and Zoho Books, which are both appealing because they cater to the needs of sole proprietors and independent contractors.

• Wave: Known for its free services, Wave offers essential bookkeeping features without the hefty price tag. It’s particularly beneficial for tracking income and expenses, making it an attractive option for those with simple financial needs.

• Zoho Books: While slightly more expensive than Wave, Zoho Books offers a comprehensive set of features tailored for small businesses. However, evaluate whether all these features align with your straightforward requirements.

Conclusion

Finding the right bookkeeping software as a self-employed contractor doesn’t have to be complicated. Strive for simplicity and affordability while ensuring the platform meets your essential needs. By exploring options like Wave or Zoho Books, you can streamline your financial management and provide your accountant with the information they need without overwhelming yourself in the process. Happy bookkeeping!