What documents do I need to provide for catch-up bookkeeping?
The good news is you don’t need perfect records to get your books caught up. If everything was perfectly organized, you probably wouldn’t need catch-up bookkeeping in the first place.
Bank statements are the foundation. These are the single most important documents because they show every dollar that moved through the business. If you only have one thing, make it bank statements for all business accounts covering the period you need caught up. Most banks let you download statements as PDFs going back several years. If you use online banking, your bookkeeper may be able to connect directly and pull transactions automatically.
Credit card statements come next if you use cards for business purchases. Same principle as bank statements. They show what was spent and where. If you use personal cards for some business expenses, pull those statements too and be ready to identify which charges were business-related.
Receipts and invoices help categorize transactions correctly, but don’t panic if you’re missing some. A bookkeeper can often figure out what a charge was based on the vendor name and amount. What you can’t reconstruct, you can usually categorize as general and administrative or a similar catch-all. Not ideal, but better than leaving books undone.
If you have employees, gather any payroll records you have. Payroll reports from your provider, quarterly 941 filings, state unemployment reports. If you processed payroll manually or through software you manage, pull whatever documentation exists showing wages paid and taxes withheld.
Prior tax returns matter. Your last filed business return shows the ending balances that should be the starting point for catch-up bookkeeping. If there’s a gap between what the return shows and what the books show, that gap needs to be addressed before moving forward.
Loan and lease documents help track liabilities correctly. The original loan amount, interest rate, and payment schedule let a bookkeeper set up proper amortization so principal and interest are recorded correctly each month.
1099s you’ve received from clients help confirm income. 1099s you’ve issued to contractors help confirm those expenses. If you have outstanding invoices to customers or bills from vendors, those help establish receivables and payables at any given point in time.
The honest truth is that catch-up work usually starts with whatever you have and fills gaps as they’re discovered. A good bookkeeper will tell you what’s missing and what’s essential to find versus what can be worked around.
If you’re looking for bookkeeping services in Richmond and need help getting books back on track, gather what you can and reach out. The process goes faster when statements are complete, but we’ve reconstructed books from less. Most business owners are surprised how much can be pieced together once someone who knows what they’re looking for starts digging through the records.
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