Chartered Accountant · ICAI M.No. 153926 · FRN 136869W
Monthly is the minimum
Books should be updated at least monthly — ideally as transactions occur. GST returns and TDS are monthly obligations, so your records must be current to file correctly and claim input credit in time. A disciplined monthly close (reconcile bank, book all entries, review) is the practical standard.
Why year-end-only fails
Leaving books to year-end causes errors and omissions (forgotten transactions, lost bills), missed ITC and late GST/TDS filings with penalties, and — worst — no visibility to manage cash or spot problems. You end up making decisions blind and scrambling at filing time. Timely books are the basis for timely, correct compliance.
A worked example
Example: a business doing a monthly close files accurate GST every month, catches a mispriced product in March, and hands its auditor clean books in April. A peer updating books once a year misses input credits, files corrections, and learns of a loss-making line far too late. Monthly discipline pays for itself. It also feeds your MIS. Our team can run a reliable monthly close for you.