Assessing how far behind the books are
What the first review actually checks before a single transaction is touched.
Reconstructing missed and messy transactions
Bank statements, receipts, and the gaps a backlog almost always has somewhere in the middle of it.
Reconciling to a clean, accurate history
Getting every account to match its statement, month by month, until the backlog is gone rather than just tidied.
What happens once you are current
The handoff into ongoing monthly bookkeeping, so the same gap does not quietly open again.
Written for general guidance. Thresholds and deadlines differ by jurisdiction and change often, so check your own position with an advisor before acting on it.