Catch-Up Bookkeeping for Vancouver Businesses
Whether you're a few months behind or haven't dealt with your bookkeeping in several years, xBooks can help get everything organized, reconciled and up to date.
We'll figure out where things stand, deal with what needs attention and give you a clear path forward.
Behind on your books? We’ll help you get caught up and move forward.
There Are Lots Of Reasons
Books Fall Behind
Running a business tends to come first. Bookkeeping doesn't always.
Sometimes the books slowly fall behind. Sometimes they've been maintained inconsistently. And sometimes everything has been entered, but you're no longer confident it's right.
Whatever brought you here, the first step is simply figuring out where things stand.
The Books Haven't Been Updated.
A few busy months turned into six months, a year or several years, and now there's a backlog that needs to be dealt with.
The Bookkeeping Was Started but Never Finished.
Some transactions are entered, others aren't. Accounts haven't been reconciled and it's difficult to know what's complete.
You're Not Sure the Books Are Right.
The bookkeeping may appear current, but balances don't make sense, accounts don't reconcile or you don't trust the financial statements.
Something Has Triggered the Need to Get Caught Up.
A tax deadline, CRA request, year-end, financing application or another requirement means the books can no longer wait.
No judgment. Just a plan to get you back on track.
How We Get Your Books Caught Up
We Figure Out Where Things Stand.
We review the existing bookkeeping and determine which periods need attention, what has already been completed and what information is missing.
We'll give you a clear list of anything we need from you, including bank and credit card statements that may need to be requested from your financial institutions.
We Work Through the Books Period by Period.
Once we have the records we need, we work through the outstanding bookkeeping, categorize transactions, reconcile the accounts and correct issues we find along the way.
We don't simply enter transactions and call the job finished. Each period needs to reconcile and the resulting balances need to make sense.
We Get Everything to a Reliable Starting Point.
Once the bookkeeping is caught up and reconciled, we can produce reliable financial information and deal with whatever comes next — outstanding GST/PST, payroll issues, year-end accounting or tax.
Then, if you'd like us to continue, we'll recommend an ongoing bookkeeping schedule that keeps everything from falling behind again.
Catch-Up & Cleanup Bookkeeping Done Properly
Catch-up bookkeeping isn't simply about entering old transactions into QuickBooks. Depending on where things stand, the books may need to be caught up, cleaned up, corrected or partially rebuilt.
The goal is the same: reliable books that accurately reflect the business and are ready for whatever comes next.
Rebuild the Bookkeeping
We work through the outstanding periods, organize the available information and properly categorize the business activity.
Where bookkeeping has already been done, we review what's there rather than assuming it's correct.
Reconcile and Correct the Accounts
Bank and credit card accounts are reconciled to the statements, and we review important balances to identify anything that doesn't make sense.
If we find errors or inconsistencies along the way, we deal with them as part of getting the books back to a reliable position.
Deal With What Comes Next
Falling behind on bookkeeping can also mean falling behind on GST/PST filings, payroll reporting, year-end accounting or tax.
Once the underlying books are reliable, we can determine what else needs attention and take care of the process from there.
What If My Bookkeeping Is Really Behind?
That’s okay.
We work with businesses that are a few months behind, several years behind, or where bookkeeping has been started but needs to be corrected.
The first step is figuring out exactly where things stand. We determine which periods need to be completed, what records are available and what information is missing.
Bank and credit card statements are an important part of that process. If older statements are missing, we'll identify exactly what we need so you can request them from your bank or credit card provider. Older records aren't always immediately available, but having complete statements is necessary for us to properly work through and reconcile the books.
Once we have the information we need, we can work through the bookkeeping methodically and get the business back to a reliable starting point.
You don't need to have everything organized before contacting us. We'll tell you what we need and help you figure out where to start.
Once You’re Caught Up, Staying Caught Up Is Easier
Getting the books caught up solves the immediate problem. The next step is making sure you don't end up in the same position again.
That doesn't necessarily mean monthly bookkeeping. Some businesses only need attention once or twice a year, while others are better suited to quarterly or monthly support.
Once we've completed the catch-up work, we'll understand your business and your books. We can recommend a schedule that keeps things organized without providing more service than you actually need.
And if you choose to stay with xBooks, we can continue looking after the bookkeeping, accounting and tax side of the business going forward.
The goal is simple: once you're caught up, you shouldn't have to get caught up again.
Frequently Asked Questions
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There isn't a fixed limit. We can help whether you're a few months behind or several years behind.
The first step is figuring out which periods need attention, what has already been done and what records are available. From there, we can determine what it will take to get everything caught up.
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That's common, particularly when the bookkeeping has been behind for several years.
We'll identify exactly which statements are missing and ask you to obtain them from your bank or credit card provider. Older statements aren't always immediately available online, so you may need to contact the financial institution and request them.
Complete statements are important because they allow us to properly work through and reconcile the books rather than guessing at what happened.
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No.
You don't need to sort through years of paperwork or try to clean up QuickBooks before speaking with us.
We'll review where things stand, tell you what we need and give you a clear list of anything you need to provide or obtain.
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Yes. Sometimes the books aren't actually behind — they've been kept up to date, but they're not right.
We can review the existing bookkeeping, reconcile the accounts and correct issues we identify so we're working from reliable numbers going forward.
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That's something we can deal with as part of the catch-up process.
We first need reliable bookkeeping for the periods involved. Once the underlying books are in order, we can determine which returns are outstanding and deal with the filings that need attention.
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That can often be part of the same problem.
The bookkeeping needs to be brought into a reliable position before the accounting and tax work can be properly completed. Once the books are ready, xBooks can take care of the accounting and tax side and coordinate the process from beginning to end.
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It depends on how far behind the bookkeeping is, the number of transactions and accounts involved, the condition of the existing books and how much needs to be corrected or reconstructed.
We review where things stand first so we can understand the work involved and discuss the cost with you before proceeding.
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Yes.
Many catch-up clients choose to stay with us afterward. Once we've worked through the historical bookkeeping, we already understand the business and how the books are structured.
We can then recommend an annual, semi-annual, quarterly or monthly schedule based on how much ongoing attention the business actually needs.
Ready to Get Your Books Caught Up?
Whether you're six months behind or several years behind, you don't need to sort everything out before contacting us.
Tell us where things stand and what you're dealing with. We'll help you understand what needs to happen, what information we'll need and how to get the business back on track.
No judgment. Just a clear way forward.