What documents do I need to catch up my bookkeeping?
Bank statements and credit card statements are the foundation. Without these, catch-up bookkeeping isn’t really possible. You need statements for every business account covering the entire period you’re behind on. If you’re missing a year, you need twelve months of statements for each account.
Most banks let you download statements going back several years through online banking. Credit card companies typically keep 18 to 24 months available online. If you need older records, you may have to request them directly from the bank. This sometimes takes a few weeks and may involve fees for archived statements.
Merchant processing reports come next if you accept payments through Square, Stripe, PayPal, or similar platforms. These show deposits that hit your bank account and the fees taken out. Without them, reconciling those deposits is guesswork.
Loan and equipment lease statements help explain large transactions and recurring payments. If you financed equipment or took out a business loan during the catch-up period, gather those documents. They clarify what’s principal versus interest and ensure liabilities are recorded correctly.
Payroll records matter if you have employees. This includes pay stubs, quarterly tax filings, and year-end W-2s. If you use a payroll service, they should have reports available for download. Catch-up bookkeeping projects often uncover payroll recording issues that need correcting before the books can close properly.
Receipts and invoices improve accuracy but aren’t always essential. If you have them organized, great. If they’re scattered in a shoebox or lost entirely, a bookkeeper can still work from statements. The statements show that transactions happened. Receipts confirm what they were for. You’ll have more confidence in expense categories if receipts exist, but missing a few won’t derail the project.
Prior year tax returns and the last set of completed financial statements give your bookkeeper a starting point. They show ending balances that should match beginning balances in the catch-up period. If those don’t exist or the previous books were never accurate, that’s useful information too.
For product businesses, inventory counts and cost records help establish beginning and ending inventory values. For contractors, any job cost tracking you’ve done helps allocate expenses to the right projects.
Don’t wait until everything is perfectly organized to start. Gather what you can access easily, especially statements, and let your bookkeeper tell you what else they need. Most small business bookkeeping catch-up projects begin with incomplete records. Part of the job is figuring out what’s missing and working around gaps where necessary. The goal is accurate books moving forward, not perfection for every transaction in the past.
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More Questions
What's the difference between catch-up and cleanup bookkeeping?
The terms are often used interchangeably. When distinguished, catch-up means recording missing transactions to get current, while cleanup means fixing errors in books that were kept incorrectly.
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Track labor costs by having employees record hours daily to specific projects, capturing fully burdened costs in your accounting software, and reconciling weekly. The key is real-time tracking, not reconstructing timesheets later.
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Record the full order amount as revenue and the fees as a separate expense. Don't just book the net deposit or you'll understate both your sales and your deductible expenses.
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Yes, several bookkeeping firms in the Greater Phoenix area specialize in e-commerce. Since bookkeeping is largely digital, you're not limited to firms physically located in the East Valley.
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Food waste and spoilage flow through your cost of goods sold, not as a separate expense. Track waste daily by category so you can see how much of your food cost comes from loss versus productive use.
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Record your gross sales as revenue and Shopify fees as a separate expense. Don't just book the net payout amount to income or you'll underreport revenue and miss tracking what you're actually paying in fees.
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