Simplifying Bookkeeping for Independent Contractors: Finding the Right Software

As a self-employed independent contractor, managing your finances can often feel overwhelming, especially when you’re operating as a single-member LLC taxed as an S-corp. If your Bookkeeping needs are straightforward—primarily revolving around a few expenses and monthly 1099 income—you might be wondering which software is best suited for your needs.

I provide healthcare services on a 1099 basis and have streamlined my payroll process using Gusto to pay myself. With this structure, I’m in search of a Bookkeeping solution that is user-friendly and efficient enough to support my accountant while avoiding the complexities of more robust platforms like QuickBooks.

My requirements are quite simple. I only generate 1099s from the facilities I contract with and have minimal business expenses to track—no inventory management, invoicing, or time tracking to complicate matters. Therefore, I’m looking for a basic software option that won’t break the bank—something less than $35 per month, like QuickBooks Simple Start.

Another key feature I need is a mobile-friendly experience. Ideally, I would prefer a platform that allows me to manage most of my transactions through an iOS app. Automatic transaction syncing with my bank and credit card accounts is also a must-have for seamless bookkeeping.

Currently, I’m evaluating two contenders: Wave and Zoho Books. Each has its own merits, but finding the right fit for my specific needs is critical.

In conclusion, as an independent contractor, choosing the right bookkeeping software shouldn’t be a daunting task. It’s about finding a solution that simplifies your financial management, not complicates it. Whether I settle on Wave, Zoho Books, or another option, I’m optimistic there’s a tool out there that can make bookkeeping straightforward and efficient for my business. If you have any recommendations, I’d love to hear from you!