How to Get Your Bookkeeping
Back on Track

Then another month passes. Before long, opening your bookkeeping software feels like a job in itself.

If that sounds familiar, you don’t need to get everything organised before asking for help. Catch-up bookkeeping starts by finding out where things stand, identifying what’s missing and working through a clear plan.

What is catch-up bookkeeping

Catch-up bookkeeping brings overdue financial records up to date. Depending on your business, it may involve entering missing transactions, reconciling accounts, organising supporting documents and reviewing outstanding invoices or bills.

Sometimes the records are mostly complete but need checking. In other cases, several months of activity need to be brought together.

The first step is to understand the backlog so the work can be prioritised properly.

Start with the last period you can trust

You might have transactions entered right up to today, but that doesn’t necessarily mean your books are current.

For example, a bank feed may have imported payments while some remain unexplained, duplicated or matched to the wrong invoices.

A useful starting question is: when were your accounts last checked against your bank statements?

If you don’t know, say so. Your bookkeeper can review the records and work out where to begin.

Gather the records you already have

You don’t need a perfect filing system to get started. Bring together what’s available, including:

• Statements for business bank accounts, credit cards and loans.
• Sales invoices, supplier bills and receipts.
• Payment platform or merchant settlement reports.
• Payroll records, if you employ staff.
• Previously lodged BAS and relevant ATO correspondence.
• Access to your bookkeeping software through its user invitation process.

Make a list of anything you can’t find. A missing document is easier to address when it’s identified early.

Flag deadlines and notices straight away

Let your bookkeeper know about approaching deadlines, overdue lodgements or letters you’ve received. Share the actual notices so the relevant dates and reporting periods can be checked.

Bookflow is a registered tax agent with the Tax Practitioners Board (TPB). If overdue BAS or tax matters need attention, we can discuss your obligations and the support you need. The TPB explains how to find and check a registered tax practitioner.

Avoid guessing at figures simply to clear a task from your list. The aim is to rebuild reliable records and understand what still needs action.

Agree on the work and the cost

Before the catch-up work begins, ask what needs to be reviewed, which periods are involved and what information you’ll need to supply.

It’s also worth discussing how questions will be handled. A short list of queries at an agreed time can be much easier to manage than searching through months of emails one transaction at a time.

At Bookflow, we believe clear expectations should include clear pricing. We’ll discuss your situation and the work involved so you can understand the next steps.

Build a routine that helps you stay current

Once the backlog is resolved, a manageable routine makes a difference. Save receipts as they arrive, keep business spending separate where possible and set aside a regular time to answer bookkeeping questions.

Ongoing support can also help prevent another backlog. Bookflow’s packages offer clear, easy pricing with regular direct debit payments, making your bookkeeping support easier to budget for.