What’s the most simple bookkeeping software for a self-employed independent contractor (LLC taxed as s-corp)? All I have are (few) expenses and monthly 1099 compensation.

Finding the Best Simple Bookkeeping Software for Independent Contractors

As a self-employed independent contractor operating as an LLC taxed as an S-corporation, managing finances can often feel overwhelming—especially when it comes to Bookkeeping. With only a few business expenses and monthly 1099 compensation, many independent contractors seek straightforward and efficient solutions to keep their financials organized.

If you provide healthcare services on a 1099 basis and handle your own payroll through Gusto, the right Bookkeeping software can make life much easier. While robust platforms like QuickBooks offer extensive features, they may prove to be more complicated and costly than necessary for those with simple needs, such as limited expenses and income from 1099 forms.

What to Look For in Bookkeeping Software

When selecting a bookkeeping solution, here are a few points to consider:

1. Simplicity: Look for software that allows you to easily input and track your income and expenses without the need for additional features, such as inventory management or invoicing.

2. Affordability: High monthly fees can quickly add up, so finding a cost-effective option is essential. Ideally, the software should be budget-friendly and not exceed your financial expectations.

3. Mobile Accessibility: In today’s digital world, having software with a functional iOS app can provide the flexibility needed to manage finances on the go.

4. Integration with Bank and Credit Card Accounts: The ability to link your financial accounts can streamline the process of tracking transactions, making reconciliation much simpler.

Current Contenders: Wave vs. Zoho Books

At present, two popular options worth considering are Wave and Zoho Books.

• Wave is known for its user-friendly interface and offers a free tier, making it an appealing choice for independent contractors who have minimal Accounting needs. It provides basic income and expense tracking, along with the ability to link bank accounts, all without a steep monthly fee.

• Zoho Books is another strong contender offering robust features at a competitive price. While it may be slightly more complex than Wave, its functionality is still manageable for those focused on essentials like tracking income and expenses. Zoho Books does come with a monthly charge, but it often includes a broader range of features which could be beneficial as your business grows.

Conclusion

Choosing the right bookkeeping software as an independent contractor doesn’t have to be daunting. Focus on simplicity, cost, mobile access, and the ability