USA how to account for freelancers

Sep 6, 2012
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I'm stumped and Google was no help. As a new business owner I've hired a handful of freelancers/contractors to work on various projects. For ease, lets say I've hired four: two directly, two through an online service such as I think answering my question for the oDesk two will answer well enough for the other two, but would love for someone to confirm this.

How do I put these contractors into accounting software (I'm using Wave if it matters any)? I assume as vendors, but is my vendor oDesk or is it the individual contractor?

Now it gets really bad. I'm trying to learn accounting here. When I have a project and I put in bills from contractors from oDesk, how do I tie that to a specific project/client? Or should I?

Ever feel like you jumped into the deep end thinking, "Hey, I know how to swim." Only to find out the water's teaming with sharks? Funny, they have IRS stamped on them. That can't be right—

If anyone has a good primer somewhere I could read to sort of get this, fantastic. Thank you much.

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