What to Do When You’re Months (or Years) Behind on Your Bookkeeping?
Feeling Overwhelmed by a Backlog? You’re Not Alone (And Here’s What to Do About It)
Let’s face it: life gets busy, and for many business owners, bookkeeping is the first thing that falls by the wayside. Whether you’re a few months behind—or even a full financial year—it’s more common than you might think, and bets are that we’ve seen worse files that yours, so don’t be embarrassed to reach out.
The good news? It’s fixable. Here’s a step-by-step guide on how to tackle your backlog without the stress spiral.
- Don’t Panic—You’re Not the First
Falling behind on your books happens more often than most people admit. But ignoring the problem doesn’t make it go away—it usually makes things worse come tax time or when applying for finance. - Take Control—Get Proactive
Don’t wait for the tax man to come knocking on your door, take a breath, take ownership and take one step at a time. Instead of letting the backlog continue to grow review where things currently stand. Being hands-on—even for a short time—helps you understand the scope of what’s missing. By facing the data head-on, you’ll feel more in control and ready to tackle the clean-up one step at a time. Even if you engage a professional bookkeeper – they will still need your input. Help them, to help you. - Organise Your Paperwork
Gather all your source documents:- Bank statements
- Credit card statements
- Invoices issued and received
- Receipts
- Payroll records
- Loan or lease agreements
Use folders (physical or digital) to sort these by month or by supplier. If you’re using a cloud tool like Dext, now’s the time to upload everything.
1. Prioritise the Oldest Data First
Work your way forward from the earliest missing month. This ensures your balances and reconciliations line up as you progress. It might even be that you can start lodging older overdue BAS or tax returns before you have fully completed the catch up work – which feels amazing.
2. Look for Missing Transactions
Compare your bookkeeping records with bank statements to make sure nothing is missing. Your bookkeeper will liaise with you to highlight missing paperwork they need to bring things up to date. Gaps in data are common when you are months behind, especially if you’ve switched bank accounts, payment processors, or software platforms.
3. Get Professional Help
This is where a Xero bookkeeping rescue service (like ours!) can be invaluable. We’ve helped countless businesses get caught up—fast. What might take you weeks (or months) to tackle on your own can often be resolved in a matter of days with expert support – but be prepared to be tasked with locating missing information to keep the job moving forward.
4. Stay On Track Going Forward
Once you’re caught up, create a simple monthly process:
• Reconcile bank accounts regularly – I like to do mine daily
• Set aside 15–30 minutes each month to review your accounts and understand your financial position
• Automate what you can (receipt uploads, recurring invoices, etc.)
Or better yet—outsource it entirely and focus on growing your business instead.
Behind on your books? Don’t wait until tax season panic hits. Get in touch today and ask us about our Bookkeeping Rescue Packages—we’ll get you back on track with no judgment, just results.
At Tashly Consulting, we are licensed BAS agents and can assist you with your payroll, BAS, and bookkeeping needs. We offer Bookkeeping Packages and if you need help tidying up your records or have fallen behind in your obligations. We can also provide Adhoc Consultations via zoom meeting, or face to face, for any queries you may have, as well as Xero training if you would prefer to keep your bookkeeping in-house but need help getting started.
Tashly Consulting Xero Bookkeepers Adelaide are Registered BAS Agents #86318001, and we are dedicated to providing seamless, high-quality, transparent bookkeeping services – If you would like any further information please contact us via telephone (08) 8121 4424 or via email to discover how the multi-award-winning team at Tashly Consulting can help you better manage your business bookkeeping.
Tashly Consulting Xero Bookkeepers Adelaide – Not your average Bean Counter!
Disclaimer: All or any advice contained in this blog/newsletter is of a general nature only & may not apply to your individual business circumstances. For specific advice relating to your specific situation, please contact your accountant or other professional adviser for further discussion.
Images by Xero | Edited by @tashlydesign
