Catchup bookkeeping is a once-off project to get your accounts up to date and reconciled. It's usually done where the accounts have fallen behind, or there are problems in the accounts that need to be resolved to be financially accurate. Occasionally the trigger is wanting to get your tax returns done during tax season before you see your accountant. Sometimes it involves also catching up on BAS or other compliance reporting. Some people refer to catch up bookkeeping as a rescue or fix up - we like to think we're simply helping business owners get a clean set of books that they can move forward with, with confidence.
To get your bookkeeping caught up, here are some things you need to do. Collect your receipts and import them into Xero. Reconcile your bank accounts, so that it matches what is on your bank statement. Keep a clear separation between personal and business expenses. Have a registered BAS agent review your income and expenses to check that they are correct for GST. Lodge all outstanding Business Activity Statements (BAS), and any other financial reporting obligations.
Pretty much everything. When we are looking to catch up bookkeeping, we're simply looking to get your books up to date and reconciled. Sometimes that's fixing up errors in the accounts, other times it's cleaning up or doing data entry by importing bank transactions and credit card statements, invoices and bills.