The problem with doing your books quarterly or at the end of the year is that you simply have no idea what has been going on. In addition to that if there is a problem or you’re missing a receipt you now have to remember where you were, what was done, and it’s a crapshoot as to whether you will be able to get a copy of your receipt for your records.

In order to know if you’re achieving your goals, financially, you MUST be tracking those finances. In order to understand if your overhead is entirely too much you MUST track your expenses. In every business there are highs and lows. In order to know, and therefore plan, for those lows you must know when they are most likely to happen! That can only be done by regularly getting in to your bookkeeping software and DOING the books.