Catch-Up Bookkeeping
Months or years behind? We bring the books current.
Catch-up bookkeeping for U.S. businesses that need to get current before a tax deadline, a loan application, an investor conversation, or simply to know where the business stands.
What we do
Everything needed to close the gap.
Gather the records
Bank and credit-card statements, payroll reports, loan statements, merchant reports, and prior tax returns for the period behind.
Post and reconcile
Every account reconciled for every month in the catch-up period, not just the ending balance.
Review the Balance Sheet
Loans, payroll liabilities, equity, A/R, A/P, and clearing accounts reviewed so the results can be relied on.
Deliver tax-ready financials
Profit and Loss and Balance Sheet by year, ready for your CPA or for Ashmore to prepare the return.
Timeline
How long does catch-up take?
It depends on the number of months, the number of accounts, transaction volume, and how quickly records arrive. After the Books X-Ray you receive an expected timeline with the quote, and a deadline can be planned around.
- Fixed project quote where scope can be defined
- Expected timeline stated upfront
- Progress updates as each period is closed
- Questions raised early to avoid rework
- Multi-year periods handled, including 7 to 8 years when source records support it
After catch-up
Stay current with monthly accounting.
Once the books are current, most clients move to monthly accounting so the gap never reopens. If the return is due, tax preparation can follow directly from the catch-up work.
Deadline questions
When the tax deadline is close.
What owners ask when the return is due soon and the books are not ready. For a step-by-step list, read what to do when the tax deadline is close and the books are not ready.
The tax deadline is weeks away and the books are months behind. Where do I start?
Start with the items that change the tax: bank and card reconciliations, income tied to 1099 forms, loans and transfers kept out of income, payroll, and large purchases. Detailed categorization can follow after filing. A Books X-Ray shows how far behind the file is and what can realistically be done first.
Can you catch up only the tax year I need right now?
Yes, when the opening balances for that year can be supported. If earlier years were never closed properly, some prior-year work may be needed so the starting balances are correct. The Books X-Ray identifies this before a quote is given.
Should I file an extension while the books are fixed?
If the original deadline has not passed, an extension is usually worth filing, because it gives more time to file without a late-filing penalty. It does not extend the time to pay, so an estimated payment may still be needed. Your tax preparer can advise on the amount.
What should I send first to get started quickly?
Read-only access to the accounting file, if one exists, and bank and credit card statements for the period that is behind. Payroll reports, loan statements, and 1099s can follow. Starting with the statements lets reconciliations begin while the rest is gathered.
Tell us how far behind the books are.
Share the software, the period that needs work, and the number of bank and credit-card accounts. We will come back with a scope, a timeline, and a fixed quote.