Six Years of Catch-Up, Done Right — A Property Management Turnaround

The Challenge

When Alex Ramsay of Ramsay Management Group came to FM Bookkeeping, the situation was one of the most significant cleanup projects we had taken on. Alex had not filed taxes in over five years, and his books had not been touched since 2018. There was no functioning bookkeeping system in place, only a dormant QuickBooks Online account with years of unreconciled transactions sitting behind it.

Getting those records in order was no small task. It required:

• Reaching out to banks to obtain old statements going back years
• Downloading CSV files transaction by transaction to reconstruct account histories
• Reconciling each year individually before moving on to the next
• Managing the process with weekly progress updates to keep Alex informed every step of the way

The full cleanup covered 2019 through 2024, nearly a full year of dedicated work before the books were ready for ongoing monthly maintenance.

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Why He Chose FM Bookkeeping

Alex came to FM Bookkeeping through a referral from an existing client. Like many business owners in his situation, he was nervous about being judged for how far behind things had gotten. From the first conversation, Mariel made clear that there was no room for shame or criticism, only a plan to move forward.

He did not consider other options. The referral, combined with Mariel's straightforward and non-judgmental approach, gave him the confidence to get started.

The Solution

FM Bookkeeping handled the full scope of work from historical cleanup through to ongoing monthly bookkeeping, including:

• Full bookkeeping cleanup and catch-up covering 2019 to 2024
• Sourcing old bank statements and reconstructing transaction histories
• Weekly progress update reports to keep Alex informed and the project on track
• In-person meetings to walk through key milestones and answer questions
• Transition to monthly bookkeeping once all historical records were clean and reconciled

The Results

Before:

• No bookkeeping system in place since 2018
• Taxes unfiled for over five years
• No visibility into cash flow or financial position
• Years of unreconciled transactions with no clear records

After:

• Six years of records fully cleaned, reconciled, and organized
• Clear monthly financial picture to support business decisions
• Foundation in place for tax filing going forward
• Ongoing monthly bookkeeping keeping everything current

Measurable Impact:

• Six years of records reconstructed and reconciled
• Hundreds of hours of financial admin removed from Alex's plate
• Business owner now positioned to file back taxes and move forward without the weight of years of unfinished books
• Financial clarity enabling focus on expanding the property portfolio and managing cash flow