Simplifying Bookkeeping for Independent Contractors: Finding the Right Software

As a self-employed independent contractor operating as an LLC taxed as an S-Corp, managing your Bookkeeping can often feel overwhelming—especially when you’re simply looking for a straightforward solution. If your business structure mirrors this scenario, you likely have minimal expenses and mostly receive 1099 compensation. The goal is to streamline your financial tracking while keeping your accountant happy.

In my case, I provide healthcare services as a 1099 contractor and manage payroll for myself through Gusto. With this setup, my Accounting needs are quite basic. I only deal with a few business expenses and 1099 forms from facilities I contract with—no inventory management, invoicing, or time tracking required.

The most pressing question arises: What is the simplest Bookkeeping software available that won’t break the bank? For instance, I find QuickBooks—particularly the Simple Start version—too complex and expensive for my needs at around $35 a month. Instead, I’m on the lookout for a budget-friendly option that streamlines the process and ideally offers an easy-to-navigate iOS app.

I want software that allows me to integrate my bank and credit card accounts seamlessly so that transactions automatically flow into the system. This would save me time and minimize manual entry.

Currently, I’m considering two contenders: Wave and Zoho Books. Both options seem promising in terms of simplicity and cost-effectiveness, but I would appreciate any insights or recommendations from fellow independent contractors who have faced similar challenges.

If you have experience with these platforms or can suggest an alternative for hassle-free bookkeeping, I’d love to hear from you! Together, let’s make managing our finances just a bit easier.