The Ultimate Guide to Choosing Simple Bookkeeping Software for Independent Contractors

As an independent contractor providing healthcare services, managing finances can be a daunting task—especially when it comes to Bookkeeping. For many self-employed professionals, particularly those categorized as LLCs taxed as S-corps, finding a straightforward and budget-friendly Bookkeeping solution is essential. If you are in a similar situation, you might be wondering: what is the simplest bookkeeping software available?

Understanding Your Needs

As an independent contractor, your bookkeeping requirements may be minimal. You might only deal with a limited number of business expenses and receive monthly payments through 1099 forms. Moreover, if you’re processing payroll for yourself through platforms like Gusto, you need a software solution that enhances simplicity rather than complicates your financial tracking.

Why Complex Software Isn’t Your Best Fit

Many popular solutions, such as QuickBooks, offer a comprehensive suite of features that can often feel overwhelming. For a professional who doesn’t require functions like inventory management or invoicing, these platforms can lead to unnecessary complexity and higher costs—often starting at around $35 per month for their basic plans.

Instead, you may be looking for software that allows you to efficiently track your 1099 income and manage essential business expenses without breaking the bank.

Essential Features to Look For

When evaluating your options, consider the following features that will enhance both usability and efficiency:

• User-Friendly Interface: As a busy contractor, you want software that is intuitive and easy to navigate.
• Mobile Compatibility: An iOS app that allows you to manage your finances on the go could be crucial to keeping everything organized.
• Bank Integration: The ability to link your bank and credit card accounts for seamless transaction tracking can save you time and reduce errors.

Exploring Your Options: Wave vs. Zoho Books

Currently, two well-regarded platforms have emerged for independent contractors seeking simplicity: Wave and Zoho Books.

Wave

Wave is a great option for those who want a free solution without sacrificing essential features. It offers standard bookkeeping tools such as expense tracking and income management, perfect for contractors with minimal needs. Its mobile app is easy to use, making it convenient for tracking finances on the go.

Zoho Books

On the other hand, Zoho Books is a more advanced tool with a variety of features. While it does have a cost associated with it, it provides a user-friendly experience and the flexibility to scale your bookkeeping needs as your