Bookkeeping is essential for maintaining the financial health of any business. It involves recording and organizing financial transactions, ensuring accuracy and compliance with tax regulations. Proper bookkeeping helps business owners track income and expenses, make informed financial decisions, and plan for growth. It also simplifies tax preparation, reducing the risk of errors or penalties. Additionally, well-maintained financial records improve transparency, making it easier to secure loans or attract investors. Without effective bookkeeping, businesses may struggle with cash flow management, missed payments, or financial misstatements, which can hinder long-term success.