Catch-up bookkeeping
Putting incomplete or incorrect records in order and filing missing returns and financial statements — going back over several years’ material if needed.
Overview
Books in order, even where they were left undone
Every business has an interest in keeping its books precise and up to date, yet situations arise where an earlier period has to be reworked retrospectively.
As part of catch-up bookkeeping we undertake to file missing returns and financial statements and to process the company’s previous years retrospectively. If we find an error during the work, we correct it and, where necessary, redo the returns and financial statements concerned.
We also undertake to put incomplete or inaccurate books fully in order for a company in liquidation or bankruptcy proceedings. In such cases we prepare the tax returns and the financial statements and represent the company before the authorities.
What we do
What catch-up bookkeeping covers
We determine the scope of the task after reviewing the existing records, so the size of the job is clear from the outset.
- Status assessment. Review of the existing accounting material and documents, and identification of the gaps.
- Retrospective bookkeeping. Processing the bookkeeping of previous years on the basis of the documents available.
- Error correction. Correcting the accounting errors found and reconciling the records.
- Filing missing returns. Preparing and submitting the tax returns that were not filed.
- Filing missing financial statements. Compiling the missing annual financial statements and preparing them for publication.
- Self-revision. Correcting previously submitted returns by way of self-revision.
- Restoring sub-ledgers. Putting fixed asset, customer, supplier and inventory records in order.
- Representation before the authorities. Representing the company before the authorities while matters are being put right.
Frequently asked questions
What our clients ask most often
When is it worth starting catch-up bookkeeping?
Before a self-revision, a tax authority audit or a sale of the company it is always worth having the administration checked, because any errors can then still be corrected in time. If there are too many inaccuracies, even a longer period can be reworked.
Is it possible during liquidation or bankruptcy proceedings?
Yes. In such cases too we undertake to put incomplete or inaccurate books fully in order, to prepare the tax returns and financial statements, and to represent the company before the authorities.
What material is needed for the work?
Primarily the available documents, bank statements, contracts and the earlier accounting data. If something is missing, we go through the possible ways of replacing it together; the scope of the work depends on the state of the material.
How far back can the books be put in order?
Self-revision and supplementary returns can generally be made within the limitation period. In practice we look at which years are affected, what documents are available and in what order it is best to proceed, so that the financial statements build on one another again.
How many documents are needed for catch-up bookkeeping?
The more complete the documentation, the faster the work. If something is missing, we help replace it: most gaps can be reconstructed from bank statements, copy invoices requested from partners and data held by the authorities.
Related services
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Full general ledger and analytical bookkeeping, tax returns and the preparation of financial statements.
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Lawful wind-up of the company from the decision to deregistration from the company register.
Details
Request a quote
Let us see what is missing
Tell us which period’s bookkeeping is incomplete or uncertain, and we will agree the steps needed to put the records in order.