My bookkeeping is behind. What now?
Short answer
Start with what is most urgent: outstanding tax returns and assessments. Collect bank statements, invoices and receipts by period and have the backlog cleared in one go. File missing returns as soon as possible, even if they are not yet perfect: corrections can be made later.
Updated on · Reviewed by the tax advisers at Boekhoudvriend
A backlog grows by itself: the longer it lasts, the harder it is to find documents. On top of that come penalties and estimated assessments that are often higher than necessary.
How to tackle it
- Make an overview of outstanding returns, assessments and letters
- Download bank statements for the whole period
- Collect invoices from your email and request missing copies
- Have an accountant process everything in one go and file the returns
- Object to estimates that are too high
At Boekhoudvriend
We first map out what is needed and make a fixed-price proposal for clearing the backlog. After that, we keep your bookkeeping up to date continuously, so it doesn't happen again.
Sources
This answer is general information, not personal advice. Your own situation may work out differently, so feel free to ask our team.