Simplified Bookkeeping Solutions for Self-Employed Contractors

As a self-employed independent contractor operating as an LLC taxed as an S-Corp, managing your finances shouldn’t have to be complicated. If you provide healthcare services and primarily deal with 1099 income and a limited number of expenses, finding a straightforward Bookkeeping software is essential.

While I run payroll through Gusto, my Accounting needs remain minimal. I’m on the lookout for a user-friendly Bookkeeping solution that simplifies my financial management while making life easier for my accountant. Unfortunately, traditional options like QuickBooks seem overly complex and costly, with features far beyond what I require for my business model.

Key Requirements for Ideal Software

• Simplicity: I need software that is straightforward and doesn’t burden me with options I won’t use, like inventory management, invoicing, or time tracking.
• Cost-Effective: I’m not interested in high monthly fees. The search is on for a solution that’s more affordable than QuickBooks Simple Start, which starts at $35 per month.
• Mobile Accessibility: I prefer a platform that allows me to handle most of my bookkeeping tasks via an iOS app.
• Automatic Transactions: It’s crucial for me to link my bank and credit card accounts so transactions can flow directly into the software, reducing manual entry and minimizing errors.

Current Options Under Consideration

At the moment, I’m evaluating two options: Wave and Zoho Books. Both platforms provide a combination of simplicity and features that may align well with what I’m looking for.

Wave is particularly appealing due to its free pricing model for core functionalities and user-friendly interface. It’s designed for freelancers and small business owners, which fits my situation perfectly.

Zoho Books, on the other hand, offers a robust set of features, though I’m wary of going overboard with options I don’t need. It does have a reasonable monthly fee, but I will need to assess if its capabilities justify that cost.

If you have any thoughts or experiences with these platforms, or if you know of other simple bookkeeping software options tailored for someone in my position, I would greatly appreciate your input. Thank you for your support!