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 User-Friendly Bookkeeping Software for Independent Contractors

As an independent contractor working as a self-employed LLC taxed as an S-Corp, simplifying your Bookkeeping can be crucial for maintaining efficiency and ensuring a smooth process for your accountant. If you’re primarily dealing with a few expenses and receiving monthly 1099 compensation, you don’t need overly complex software that includes features that are irrelevant to your needs.

Having worked in the healthcare sector and managing payroll through Gusto, it’s understandable that you seek a straightforward Bookkeeping solution without the overwhelming features of platforms like QuickBooks. For your unique circumstances, you need software that focuses on the essentials: managing 1099s and a handful of business expenses, without the need for inventory management, invoicing, or time tracking.

Key Features to Consider

When searching for the ideal bookkeeping software, consider the following aspects:

1. Simplicity: You need a system that’s intuitive and user-friendly. The goal is to make bookkeeping as hassle-free as possible, allowing you to focus on your healthcare services instead of Accounting complexities.

2. Cost Efficiency: It’s essential to find a solution that fits your budget. You’re looking for an option that doesn’t carry a hefty monthly fee like the $35 QuickBooks Simple Start plan.

3. Mobile Accessibility: Given your preference for using an iOS app, ensure that the software has robust mobile features, enabling you to manage transactions on-the-go.

4. Automatic Transaction Import: A valuable feature would be the ability to connect your bank and credit card accounts directly to the software, facilitating automatic transaction imports and minimizing manual entry.

Comparing Options: Wave vs. Zoho Books

Currently, Wave and Zoho Books are two contenders on your radar. Here’s a quick overview:

• Wave: Wave is known for its free bookkeeping software that is perfect for freelancers and independent contractors. It supports 1099 forms and allows easy tracking of expenses. The mobile app also facilitates on-the-go management, and since it is free, it presents a cost-effective option.

• Zoho Books: Zoho Books is slightly more feature-rich, designed to cater to small businesses. While it may come with a cost, it offers great automation features, including bank feeds and expense tracking, which can ease the bookkeeping process.

Conclusion

In conclusion, finding the right bookkeeping software can streamline your financial management as an independent contractor. A basic option like Wave may suit your needs