Catch-Up Bookkeeping

Catch-up bookkeeping is the process of going back through one or more months (or years) of activity, categorizing every transaction, reconciling each account, and producing the P&L and balance sheet that should have been produced at the time.

The catch-up process

  1. Connect every bank, card, and merchant account.
  2. Build or fix the chart of accounts.
  3. Categorize every transaction, oldest to newest.
  4. Reconcile each account against statements.
  5. Identify owner contributions and draws.
  6. Produce final P&L and balance sheet for each year.

What it should cost

Independent bookkeepers typically charge $300–$600 per month being caught up. At GuidedLedger, catch-up is free with any monthly subscription — up to 12 months back, included.