September often feels like a fresh start. The summer holidays are coming to an end; children are heading back to school, routines are returning and diaries start filling up again and while you might be thinking about getting the family organised for the new school term, September is also the perfect time to take a step back and get your business finances organised for the months ahead. Before you rush headlong towards Christmas and the end of the year, there are a few things worth checking.
How is your business really doing?
It’s very easy to judge how your business is performing by looking at your bank balance or the amount of work coming in. But neither necessarily tells you the full story. You could be incredibly busy and still not be making the profit you think you are.
So, as part of your September reset, take some time to look at your latest management accounts or profit and loss figures.
Ask yourself:
- Are sales where you expected them to be?
- Has your profit increased or decreased?
- Are your costs creeping up?
- Which products or services are generating the best return?
- Are there areas of the business that are taking up lots of time but producing very little profit?
If you don’t know the answers, September is a great time to find out.
Check your cash flow
Profit and cash aren’t the same thing. You can have a profitable business on paper and still find yourself struggling to pay bills if money isn’t coming into the business at the right time. Take a look at what’s expected to come in over the next few months and what needs to go out.
Are there outstanding invoices that need chasing?
Are any large expenses coming up?
Do you have enough cash available to cover your regular commitments?
A simple cash-flow forecast can give you a much clearer picture of what’s ahead and help you spot potential problems before they become urgent.
Don’t forget about tax
Nobody likes an unexpected tax bill. One of the simplest ways to avoid that nasty surprise is to keep an eye on your tax position throughout the year rather than waiting until your accounts or tax return are prepared.
The government recommends incorporating tax planning into your budgeting and cash-flow forecasting and regularly setting money aside for your tax liabilities.
So, ask yourself:
Do you know roughly what your next tax bill is likely to be?
And more importantly, have you actually put the money aside to pay it?
If you’re not sure, it’s worth speaking to your accountant now rather than discovering the answer when the bill arrives.
Review your pricing
When was the last time you properly reviewed your prices?
Costs have a habit of increasing gradually, which means it’s surprisingly easy to continue charging prices that were set months or even years ago.
Look at your main products and services and consider:
Are they still profitable?
Don’t just look at your turnover. Look at the actual costs involved in delivering what you sell, including your time.
If something takes you twice as long as you expected but you’re charging the same price, your profit margin may be much smaller than you think.
September can be a great time to review your pricing and make changes before you head into the final quarter of the year.
Have a clear-out
A financial reset is also a good opportunity to have a little business housekeeping session.
Go through your regular expenses and subscriptions.
Are you still using everything you’re paying for?
Do you have software subscriptions that were useful once but are now sitting unused?
Are there services you could renegotiate?
Small monthly costs can add up to a surprisingly large amount over a year.
And don’t forget your business records either. Keeping accurate records of income and expenses isn’t just about making life easier at tax-return time. Good records can help you understand your cash flow and identify which areas of your business are performing best.
Look at the rest of 2026
Once you’ve reviewed the numbers, look ahead.
What do you want the next four months to look like?
Perhaps you want to:
- Increase turnover
- Improve your profit margin
- Take on a new member of staff
- Invest in new equipment
- Launch a new product or service
- Reduce unnecessary costs
- Finally get on top of your bookkeeping
- Or simply create more financial stability in the business
Whatever your goals, make sure you know what the numbers need to look like to make them achievable.
For example, if you want to increase your profit by £10,000 before the end of the year, what does that actually mean in terms of additional sales, pricing or cost savings?
That’s where understanding your figures becomes so much more valuable than simply recording them.
Don’t wait until January
January is traditionally when people decide they’re going to get organised.
New year. New goals. New plans.
But why wait?
By January, the final few months of the year have already happened.
September gives you an opportunity to do something about them while there’s still time.
You can spot problems, make changes, take advantage of opportunities and finish the year in a much stronger position.
Think of it as your business’s back-to-school reset.
Your September financial checklist
Before you get swept up in the autumn rush, take an hour or two to:
✓ Review your latest profit and loss figures
✓ Check your cash flow
✓ Review outstanding invoices
✓ Check how much you’ve set aside for tax
✓ Review your pricing and profit margins
✓ Look at your regular expenses and subscriptions
✓ Make sure your bookkeeping and records are up to date
✓ Review your business goals for the rest of the year
✓ Identify the one or two financial areas that need your attention most
You don’t have to do everything at once.
The important thing is to know where you are now and where you want to be by the end of the year.
Need a little help with your September reset?
Sometimes the hardest part isn’t doing the numbers. It’s knowing what the numbers are actually telling you.
At Chapmans Business Solutions, we don’t believe your accounts should simply sit in a folder until it’s time to submit your tax return.
Your figures can help you make better decisions, plan ahead and understand how your business is really performing.
So, if September has highlighted a few questions about your business finances, talk to us.
Let’s make sure you finish 2026 knowing exactly where your business stands and where you’re going next.
Drop us a line to book in for a FREE no obligation call on 01775 529345.
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