Bookkeeping is the process of recording, organizing, and managing all financial transactions for your business. It's crucial for keeping track of expenses, income, and ensuring accurate financial reports, which are essential for tax filing and making informed business decisions.

It's recommended to update your books monthly to maintain accurate and up-to-date financial records. This helps prevent errors, ensures tax compliance, and gives you a clear view of your business’s financial health.

If your books are not up to date, it can lead to missed tax deadlines, financial discrepancies, and potential penalties. Keeping your books current helps avoid these issues and ensures you have accurate data for making important business decisions.