Two years of catch-up bookkeeping for a contractor before a bank loan

What we did

1. 01

   Access and document collection

   We received accountant access to QuickBooks Online with MFA, reconnected read-only bank and credit-card feeds, and collected 24 months of statements for every bank, card, loan and merchant account. Payroll reports came from the contractor's payroll provider. Receipts were uploaded to the contractor's own document tool rather than downloaded to our devices. A single shared list on our LedgerDesk portal tracked what was still missing.

2. 02

   Rebuilding the books

   The chart of accounts was restructured for a contractor: direct job costs split into labor, materials, subcontractors and equipment, with overhead kept separate. Each job was set up as a project so income and cost could be tied to it. Equipment loans were split between principal and interest, duplicated card charges removed, owner draws separated from expenses, and subcontractor payments tagged for 1099 reporting. We posted the oldest month first and reconciled each account before moving on.

3. 03

   Weekly progress and a single question list

   Instead of a stream of emails, the accountant batched open questions into one weekly list and walked through it with the owner on a short call. Each completed month passed through our Two-Tier Review, with a second person checking the reconciliations, before it was marked closed on our CloseTrack log. The owner could see progress month by month rather than waiting for a finished file.

4. 04

   Vendor and customer statement calls

   To close open items, the team called suppliers and general contractors in the client's name to request statements, missing invoices and confirmation of retainage balances. Those calls cleared unexplained deposits and payments without the owner having to dig through old emails. Nothing was paid or negotiated by LedgerBPO; the owner approved and released every vendor payment.

5. 05

   The lender package and the monthly close

   With 24 months reconciled, we prepared the profit and loss by year, the balance sheet, accounts receivable and payable aging, and a job profitability summary to match the bank's request list. The contractor's CPA reviewed the package and prepared the tax returns from the same books. LedgerBPO then moved the contractor onto a standard monthly close so the file stays current for the next request.

KPIs

Services used

• Months behind? We'll bring your books current
• Every statement reconciled to the cent
• Reports your lender, investor and you will actually read