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 Perfect Bookkeeping Software for Self-Employed Independent Contractors

If you’re a self-employed independent contractor operating as an LLC taxed as an S-Corp, finding straightforward Bookkeeping software can seem daunting. This is especially true if your Bookkeeping needs are minimal, consisting mainly of handling a few business expenses and tracking your monthly 1099 income.

As someone who provides healthcare services on a 1099 basis, you may already handle payroll for yourself using services like Gusto. However, the need for simple, efficient bookkeeping software is paramount, especially if you’re trying to make things easier for your accountant.

Many popular options, like QuickBooks, might feel overly complex for your straightforward requirements. If you’re not dealing with inventory, invoicing, or advanced time tracking, a less cumbersome solution is essential.

What to Look For in Bookkeeping Software

When searching for the right software, consider these key features:

1. Simplicity: You need something that won’t overwhelm you with unnecessary features. The goal is to track your 1099 income and business expenses without fuss.

2. Affordability: High monthly costs, like the $35/month fee for QuickBooks Simple Start, can be a burden, especially if your budget is tight.

3. Mobile Friendliness: As someone who prefers to work on the go, an application that functions well on iOS is a must. Look for software that allows you to manage your finances primarily from your smartphone or tablet.

4. Automatic Transaction Syncing: It’s beneficial to choose a platform that can link directly to your bank and credit card accounts, allowing transactions to flow automatically into your bookkeeping platform.

Options to Consider: Wave vs. Zoho Books

Currently, two avenues worth exploring are Wave and Zoho Books.

• Wave: This software is particularly appealing due to its no-cost structure for basic Accounting. It is user-friendly and perfect for those with simple financial scenarios like yours. Wave offers features that help you manage income and expenses with ease.

• Zoho Books: Another noteworthy choice, Zoho Books is slightly more robust but still offers simplicity that can cater to contractors. It has an affordable pricing structure and good mobile app support, making it a viable option for your needs.

Conclusion

In summary, the right bookkeeping software for an independent contractor should simplify your financial management without incurring high costs. Tools like Wave and Zoho Books can provide the simplicity