Catch-up Bookkeeping for Small Businesses and Professional Corporations

Need to Catch Up on Bookkeeping? Our Small Business Bookkeepers in Toronto Handle the Backlog with Accuracy and Care.

Professional and expert catch-up bookkeeping services for Small Businesses, Corporations, and Professionals in Toronto, Scarborough, Markham, Ajax, Pickering, Whitby, Oshawa, Bowmanville, York, Mississauga, Brampton, Oakville, Hamilton and across Ontario.

If your business bookkeeping has fallen behind—whether by months or even years—you’re not alone. Many small business owners, self-employed professionals, and incorporated professionals in Ontario find themselves too busy to keep up with day-to-day recordkeeping. But late books can quickly snowball into missed tax filings, CRA penalties, and serious cash flow issues.

Small business bookkeepers Scarborough in our CPA firm specialize in catch-up bookkeeping for businesses that need to get current quickly, accurately, and with CRA-compliant practices. Whether you’re behind a few months or several years, we help you rebuild your financial records, support tax filings, and restore peace of mind.

Who Needs Catch-up Bookkeeping?

You may need catch-up bookkeeping if:

  • You haven’t recorded transactions for several months or years
  • You’re missing tax filing deadlines due to incomplete books
  • You’ve received a CRA reminder or audit notice
  • You’re behind on HST/GST remittances or payroll filings
  • You plan to incorporate, sell your business, or apply for a loan
  • You’re transitioning to a new accountant or cloud accounting system

What’s Included in Our Catch-up Bookkeeping Services?

We provide full-cycle, catch-up bookkeeping customized to your business structure and needs:

  • Review and record transactions in your bank, credit card, and loan statements
  • Input of all missing sales, expenses, and receipts, if asked for
  • Reconciliation of bank and credit card accounts
  • Accurate HST/GST tracking and remittance support
  • Accounts receivable and payable reconciliation, if asked for
  • Year-end adjusting journal entries and trial balance preparation for your Accountant
  • CRA audit preparation (if applicable)
  • Preparation for corporate tax filing or business tax filing
  • Transition to a cloud-based accounting platform (e.g. QuickBooks, Xero, CosmoLex)

We work with you to gather missing records and statements , and deliver a clean, up-to-date set of books.

Timelines and Tax Implications

🔹 How Long Does Catch-up Bookkeeping Take?

Depends on:

  • The number of months or years behind
  • Volume of transactions
  • Quality/availability of source documents

Typical turnaround: 2 to 6 weeks for 1 year of catch-up depending on volume and upon receipt of complete documents and information. Larger backlogs may take longer but can be prioritized.

🔹 Tax Filing Implications

Clean books are required for:

  • T1 personal tax returns (including self-employed businesses and professionals)
  • T2 corporate tax returns
  • GST/HST returns
  • Payroll remittances
  • Year-end financial statements

Why Choose Us for Catch-up Bookkeeping?

✅ CRA-compliant bookkeeping backed by licensed CPAs
✅ Years of experience handling multi-year cleanups by business bookkeepers Toronto
✅ Fast, discreet, and non-judgmental service
✅ Clear, organized records ready for tax filing or audit
✅ We work with all major bookkeeping apps (QuickBooks, Wave, Xero, Cosmolex for legal bookkeeping)
✅ Flat-fee pricing options for multi-year cleanup

Frequently Asked Questions (FAQs)

1. I haven’t done my books in over a year. Can you help?

Yes! We specialize in multi-year catch-up bookkeeping. Whether you’re behind one year or five, we’ll help you get back on track, accurately and quickly.

2. Will I get in trouble with the CRA if my books are late?

Not necessarily, but late filings can result in penalties and interest. The sooner you catch up, the better your chances of avoiding or minimizing CRA consequences.

3. Can I do my catch-up bookkeeping in spreadsheets?

It’s possible, but risky. CRA prefers audit-ready books. We recommend using CRA-compliant accounting software such as QuickBooks Online or Xero, which we help set up and maintain.

4. What if I’m missing receipts or records?

We can still help. We’ll use bank statements, vendor records, etc. and guide you through what’s required.

5. Is catch-up bookkeeping tax-deductible?

Yes. Bookkeeping services are generally fully deductible as a business expense on your tax return.

Let’s Get Your Business Books Back on Track

Fallen behind on your bookkeeping? Don’t wait until CRA comes knocking. Let our experienced Toronto small business bookkeepers clean up your books, file your taxes, and put you back in control of your finances.

📧 Email us: info@maqcpa.ca
📞 Call us: (416) 901-4126