# How often should I update my business books?

Update your books at least once a week and review them once a month. ProfitDrawer's expense tracking guide suggests a fixed weekly slot of about 15 minutes to enter sales and receipts, then about 5 more minutes at month end to check profit and set aside tax. IRS Publication 463 says records made at or near the time are strongest, and a weekly mileage log can count as timely.

A rhythm that works for most small businesses:

- **Weekly (about 15 minutes):** enter new income and expenses from your bank account and receipts folder, log trips, and mark invoices that were paid.
- **Monthly:** check income minus expenses, look at the biggest categories, follow up on unpaid invoices and move a share of profit into tax savings.
- **Quarterly:** total the quarter for estimated tax. For tax year 2027 the payments are due April 15, June 15 and September 15, 2027, and January 18, 2028.
- **Yearly:** total everything by category, gather receipts and the mileage log, and give them to whoever prepares your return.

If you only update once a year, receipts go missing and mileage gets guessed, which can cost you deductions. If you are months behind, catch up one month at a time, starting with bank statements.

General information, not tax advice.

- Source: [How to Track Business Expenses: A Simple System for Small Business Owners](https://profitdrawer.com/guides/how-to-track-business-expenses.html)
- Updated: 2026-10-29
- Published: 2026-10-29
- Category: Bookkeeping basics
- Canonical: https://profitdrawer.com/answers/how-often-should-i-update-my-business-books.html
- Publisher: ProfitDrawer (https://profitdrawer.com)