📚Familiarize yourself with the client's books to understand their categorization, chart of accounts, and financial health.
📅Determine where to start by checking the last reconciled date and the client's tax filing history.
💼Do the catch-up work by importing bank feeds, categorizing transactions, and reconciling statements.
🔄Develop efficient routines for ongoing work, including regular check-ins with the client and customized reports.
How do I start catching up years of bookkeeping work?
—Start by familiarizing yourself with the client's books, obtaining their bank statements, and understanding their financial situation.
Which month should I start with when doing catch-up work?
—You should start with the most recent month or the month that needs immediate tax filing. Consult with the client to determine the priority.
What is the best way to import and categorize old transactions?
—If the bank feeds provide sufficient data, import the transactions into QuickBooks and use rules to categorize them. If not, import data from spreadsheets and categorize manually.
How often should I revisit and update the client's books?
—It depends on the complexity and needs of the client, but regular monthly or quarterly reviews are recommended to ensure accuracy and provide updated financial information.
How should I price my catch-up bookkeeping services?
—You can charge either an hourly rate or a fixed rate based on the number of months or years of catch-up work. Discuss pricing options with the client based on the estimated time and effort required.
00:07If you have a new bookkeeping client and need to catch up on years of transactions, follow these four steps.
01:55Familiarize yourself with the client's books, including their categorization, chart of accounts, and financial health.
02:59Determine where to start by checking the last reconciled date and the client's tax filing history.
03:59Do the catch-up work by importing bank feeds, categorizing transactions, and reconciling statements.
08:52Develop efficient routines for ongoing work, including regular check-ins with the client and customized reports.
