7 financial tasks for year-end tax planning in Canada

Nex CPA
Sep 17
3 min read

Updated: Sep 22

September isn’t just back-to-school season — it’s back-to-business for founders and entrepreneurs.

After a summer of travel, lighter schedules, or simply delayed to-dos, September marks the ideal moment to reset your financial operations before Q4 hits.

Here are 7 financial tasks every founder should prioritize this month:

1. Reconcile All Summer Transactions

Whether you were operating at full speed or slowing down in July and August, it’s time to match every expense, payment, and invoice to your books.

If you’ve fallen behind, platforms like Xero and Dext make this faster than ever — and Nex CPA can help automate it.

2. Review Your Q3 Performance vs. Forecast

Before Q4 begins, take a moment to compare your budget vs. actuals for the year so far.

Are you hitting revenue targets?
Are operating expenses creeping up?
Is your runway shorter than you thought?

This insight will shape the strategic decisions you need to make before December.

3. Clean Up Your Chart of Accounts (COA)

Now’s the perfect time to trim down messy or redundant GL codes and standardize categories.

We often find duplicated or unused accounts creating confusion and reporting errors — especially in growing startups.

A clean COA = better insights = faster decisions.

4. Review Accounts Receivable and Chase Overdue Invoices

September is when cash flow gets tight for many businesses.

Check your A/R aging report and chase unpaid invoices. Better yet, automate reminders and late fees so you don’t have to think about it again.

Uncollected receivables are one of the most overlooked drains on profitability.

5. Set a Fall Budget and Cash Flow Projection

Forecast your burn, expected revenue, and cash flow through to year-end.

Even a simple 90-day forecast helps you:

Decide whether to defer or accelerate spending
Spot upcoming cash gaps
Prepare for debt repayments or equipment purchases

If you need help, Nex CPA builds this with our clients inside Joiin, Fathom, or Google Sheets.

6. Make Sure CRA Remittances Are Up to Date

This is the perfect time to get ahead of:

Payroll remittances (T4s, source deductions)
GST/HST instalments
Corporate tax instalments

Want to avoid penalties in 2026? Stay current now.

7. Book Your Year-End Tax Planning Call Early

Too many businesses leave tax planning until February or March — when it’s too late to take action.

By booking your tax planning call in September or October, we can still:

Adjust compensation (salary vs dividends)
Time capital purchases
Review shareholder loans
Optimize taxable income before December 31

Your future self will thank you.

Let’s Make Q4 Count

You don’t need to wait for the CRA to come knocking or for your books to fall apart before taking action. At Nex CPA, we help clients stay ahead — not scramble behind.

📞 Book a 30-minute strategy call and we’ll help you tackle these 7 tasks with the tools, systems, and insight your business deserves.

About Nex CPA

Nex CPA is a boutique Canadian digital accounting firm that provides online accounting solutions by combining technology and forward-thinking businesses. Tailored for the modern entrepreneur, we provide an easy, automated and client-focused service so you can focus on working 'on' the business and not 'in' the business.

For more information, email us at info@nex.cpa