{"id":78983,"date":"2023-11-21T15:16:36","date_gmt":"2023-11-21T20:16:36","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=78983"},"modified":"2024-09-04T09:53:21","modified_gmt":"2024-09-04T13:53:21","slug":"tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/","title":{"rendered":"Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\">\n\t\t\t\t\t\t\t<span>Entrepreneur<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Diane Amato<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Ethnic small business owner smiling cheerfully while standing in her shop. Happy businesswoman managing her clothing orders on a laptop. Black female entrepreneur running an online clothing store.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg 2120w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?resize=2048,1366 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024 &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published November 21, 2023 \u2022 11 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>No matter how many years you&#8217;ve been in business, taking certain steps at year-end can help you tie up any loose ends and set yourself up for a great year ahead. Here are 8 essential steps to take as we close out 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Sum up your business financials<\/h2>\n\n\n\n<p>The end of the year is a great time to do a financial roundup, which ultimately starts with gathering your financial statements. Look at your income statement, cash flow statement and balance sheet to understand your current financial standing clearly and to forecast the year ahead. This is also a good time to leverage some fundamental financial tools and ratios, which can help you evaluate the performance of your business and identify potential pitfalls.<\/p>\n\n\n\n<p>Here are some ratios to consider using to benchmark your business:<\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapseeb361a76\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapseeb361a76\" data-dig-id=\"LP-78983-eb361a76\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Current Ratio\"><span>Current Ratio<\/span><span>Current Ratio<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapseeb361a76\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Also called Working Capital Ratio, this calculation indicates whether your business has enough cash flow to meet your short-term obligations, act on opportunities and look good in the eyes of potential lenders. It can also help you avoid cash flow problems before they surface.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapsea9ebaefa\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapsea9ebaefa\" data-dig-id=\"LP-78983-a9ebaefa\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"How to calculate Current Ratio \"><span>How to calculate Current Ratio <\/span><span>How to calculate Current Ratio <\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapsea9ebaefa\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Divide your current assets by your current liabilities. Ideally, your Current Ratio should fall between 1.5 and 2 \u2014 a ratio of 1 means you may not have enough money to last the year, while a ratio of more than 2 could mean you\u2019re not investing enough into your business for the future.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapseb6128851\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapseb6128851\" data-dig-id=\"LP-78983-b6128851\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Debt Ratio\"><span>Debt Ratio<\/span><span>Debt Ratio<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapseb6128851\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Your Debt Ratio shows the percentage of your business\u2019 assets financed by creditors. It\u2019s a ratio a lender will look at before lending money to your business, so it\u2019s wise to know this number before planning the year ahead.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse6fe7a112\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse6fe7a112\" data-dig-id=\"LP-78983-6fe7a112\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"How to calculate Debt Ratio\"><span>How to calculate Debt Ratio<\/span><span>How to calculate Debt Ratio<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse6fe7a112\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Divide your total debt by your total assets. A good Debt Ratio largely depends on your industry, but anything below 0.3 is considered fair. With anything above 0.6, it may be difficult to obtain additional loans.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapsea41f0548\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapsea41f0548\" data-dig-id=\"LP-78983-a41f0548\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Gross Profit Margin\"><span>Gross Profit Margin<\/span><span>Gross Profit Margin<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapsea41f0548\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This calculation shows you what percentage of your income is profit after paying for the cost of doing business. These costs include labour, materials and other production costs. While it can help you assess your company\u2019s financial health, it\u2019s best used to track your company\u2019s performance over time or benchmark your business against companies in the same industry.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse3358ad67\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse3358ad67\" data-dig-id=\"LP-78983-3358ad67\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"How to calculate Gross Profit Margin\"><span>How to calculate Gross Profit Margin<\/span><span>How to calculate Gross Profit Margin<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse3358ad67\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Subtract your expenses\/&nbsp;<a href=\"https:\/\/www.bdc.ca\/en\/articles-tools\/entrepreneur-toolkit\/templates-business-guides\/glossary\/cost-of-goods-sold\" target=\"_blank\" rel=\"noreferrer noopener\">cost<\/a>&nbsp;of goods sold from your net sales (gross revenues minus returns, allowances and discounts). Then, divide that number by your net revenues and multiply by 100% to calculate the gross profit margin ratio.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse56e61e25\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse56e61e25\" data-dig-id=\"LP-78983-56e61e25\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Debt Service Coverage Ratio\"><span>Debt Service Coverage Ratio<\/span><span>Debt Service Coverage Ratio<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse56e61e25\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>The Debt Service Coverage Ratio (DSCR) is a key measure of a company\u2019s ability to repay its loans, take on new financing and make dividend payments. Different debt providers may have different numbers they like to see; however, the greater the value over 1.25 (125% coverage), the better. The key value in calculating DSCR is identifying your company\u2019s net income. If your business has a growth plan requiring investor\/lender assistance, it is important to maintain a strong DSCR.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapsefc158d3b\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapsefc158d3b\" data-dig-id=\"LP-78983-fc158d3b\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"How to calculate Debt Service Ratio\"><span>How to calculate Debt Service Ratio<\/span><span>How to calculate Debt Service Ratio<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapsefc158d3b\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>To calculate DSCR, divide net operating income by debt service, which is the sum of all current debts, including principal and interest.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<p class=\"mar-t-hlf mar-b-hlf\">&nbsp;<br><em>Tip: Gather your bank and loan statements early so that you can identify any gaps that need filling and have your documents on hand for when you&#8217;re ready to do your review. Should you require bank confirmation of account balances, it&#8217;s best to initiate your request as soon as possible, especially if your year-end is Dec 31<sup>st<\/sup>.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Find ways to save money in the year ahead<\/h2>\n\n\n\n<p>2023 was a tough year for many Canadian businesses. Rising interest rates increased the cost of borrowing, and inflation boosted the cost of goods, materials and supplies. Doing business in 2024 likely won&#8217;t be cheap, so it will take some creativity, negotiation and resourcefulness to find opportunities to save. Here are a few ideas to stretch your dollar:<\/p>\n\n\n\n<p>Tips for finding savings:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"is-style-default default\"><strong>Reduce your variable costs<\/strong>. From inventory management to utility costs and subscriptions to marketing, evaluate expenses and consider how you can become more efficient with your spending in 2024.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Assess your credit cards and loans<\/strong>. There are easy ways to maximize your business credit card\u2019s potential while saving on borrowing costs, such as rewards points, leveraging the grace period and paying off the balance on time. There may be ways to reduce your repayment costs if you have loans.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Utilize tax credits<\/strong>. Tax credits can help reduce the amount you pay on your taxable income and can make a difference to your bottom line come tax time.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Get creative with hiring and retaining talent<\/strong>. Employees today value the opportunity to learn new skills and grow professionally. If you have a new role to fill, consider upskilling the talent you have in-house to save on the higher cost of new labour. Or, find young talent that matches the skills you\u2019re looking for.&nbsp;<a href=\"https:\/\/swpp.magnet.today\/rbc-future-launch\/\" target=\"_blank\" rel=\"noreferrer noopener\">Magnet<\/a>&nbsp;helps you hire students and cost-effectively integrate learning opportunities.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Evaluate your supplier terms<\/strong>. Year-end is a good time to assess your accounts receivable and accounts payable terms to see if there are any opportunities to affect your cash flow and save some money. Are there any early payment discounts available? Could you extend payment terms with your long-term vendors to ease cash flow pressures?<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><strong><em>More money-saving tips<\/em><\/strong>:&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/5-tips-to-help-find-hidden-savings-and-offset-rising-business-costs\/\" data-dig-id=\"LP-78983-56084b55\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"5 Tips to Help Find Hidden Savings and Offset Rising Business Costs\" class=\"rbc-link-format\">5 Tips to Help Find Hidden Savings and Offset Rising Business Costs<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Tap into funding opportunities<\/h2>\n\n\n\n<p>Business owners can tap into several new and unique opportunities that make it easier to access capital and grow their businesses.<\/p>\n\n\n\n<p>Programs to consider:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"is-style-default default\"><strong>The Canada Digital Adoption Program (CDAP)<\/strong>. This $4 billion investment is designed to help small and medium-sized businesses get online with new digital tools.<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/grow-your-business\/what-business-owners-need-to-know-before-applying-for-the-new-canada-digital-adoption-program-cdap\/\" data-dig-id=\"LP-78983-b8852b2a\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"&nbsp;Learn more about CDAP here\" class=\"rbc-link-format\">&nbsp;Learn more about CDAP here<\/a><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Other grants relevant to your business<\/strong>. Non-repayable government grants can help you expand, create jobs, advance innovation, launch environmental initiatives and more.&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/looking-at-government-grants-for-your-business-read-these-tips-before-you-apply\/\" data-dig-id=\"LP-78983-9294360f\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"GrantMatch can help you find and secure government funding\" class=\"rbc-link-format\">GrantMatch can help you find and secure government funding<\/a><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>The Canada Small Business Financing (CSBF) program<\/strong>. While not technically a funding program, the CSBF can ake it easier for businesses to access financing. Through the program, the government is providing a partial guarantee to lenders on behalf of eligible businesses, enabling businesses to start or expand their operations while taking on less personal risk than typical lending scenarios.&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/grow-your-business\/learn-how-the-canada-small-business-financing-program-can-help-grow-your-business\/\" data-dig-id=\"LP-78983-3184c9a4\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Learn more about the CSBF program\" class=\"rbc-link-format\">Learn more about the CSBF program<\/a><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>RBC Black Entrepreneurship Program<\/strong>. RBC offers resources, funding and support to help create opportunity, growth and equity for Black entrepreneurs, including loans up to $250,000 to help start, manage or grow a business.&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/business\/advice\/blackentrepreneur.html\" data-dig-id=\"LP-78983-b3819717\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Learn more about this program\" class=\"rbc-link-format\">Learn more about this program<\/a><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Programs for young business owners<\/strong>. Futurpreneur offers access to business resources, financing and mentoring to help owners aged 18 \u2013 39 build and grow a business.&nbsp;<a href=\"https:\/\/www.futurpreneur.ca\/en\/rbc-beyond-banking\/\" data-dig-id=\"LP-78983-1b393431\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"See how Futurpreneur can help\" class=\"rbc-link-format\">See how Futurpreneur can help<\/a><\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">4. Do some scenario planning<\/h2>\n\n\n\n<p>The last few years have thrown an array of curveballs at business owners, making scenario planning an essential part of running a business. Often defined as \u201cwhat if&#8221; planning, business scenario planning involves making assumptions on what the future will bring \u2013 and determining how these situations, or scenarios, will affect your business.<\/p>\n\n\n\n<p>For instance:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"is-style-default default\">What if interest rates rose by over 3% in a year?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What if you lost half your clients?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What if you cost of raw materials doubled?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What if your biggest supplier didn&#8217;t pay you on time?<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Scenario planning lets you see alternative versions of your future business, giving you the opportunity to detect potential pitfalls or cash gaps before they happen. It can also stress test your plans against a variety of situations.<\/p>\n\n\n\n<p>Tips for stress testing your business:&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\" data-dig-id=\"LP-78983-a74ef970\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan\" class=\"rbc-link-format\">RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. Get ready for tax season<\/h2>\n\n\n\n<p>While you&#8217;re not required to file your taxes for several months yet, there are some steps you can take now to prepare yourself for tax season. For example, are any activities you can take on now that will relieve your 2023 tax burden? Can you maximize tax credits, such as research and development or marketing incentives? If it makes sense for your business, are there any major purchases you can make and claim for this year?<\/p>\n\n\n\n<p><em>Tip: It&#8217;s a good idea to chat with your accountant about possible things you can do in 2022 to minimize your taxes come spring and to estimate how much income to take out your business in 2023. It&#8217;s also smart to start organizing your business expenses and receipts now!<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">6. Do an operations check-in<\/h2>\n\n\n\n<p>When you&#8217;re caught up in the day-to-day running of your business, it can be easy for some of the maintenance activities to slip through the cracks. The end of the year is a great time to check that some key elements of your business are functioning as they should. Ask yourself: Are there areas of your operations you can streamline for greater efficiency? Are there new tools and platforms you can use to help make your business run better? Consider these&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/business\/beyond-banking\/beyond-banking-offers-and-services\/index-v3.html\" data-dig-id=\"LP-78983-d44e0d35\" data-dig-label=\"Beyond Banking Services\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">Beyond Banking Services<\/a>&nbsp;offered at special rates to RBC clients:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"is-style-default default\">The<strong>&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/business\/beyond-banking\/go-digital\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">RBC Go Digital program<\/a><\/strong>&nbsp;can help you adapt to changes in the digital world, access new technologies and differentiate yourself in a disruptive market.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong><a href=\"https:\/\/www.rbcroyalbank.com\/business\/beyond-banking\/index.html\">Sherweb<\/a><\/strong>&nbsp;can help you access digital tools to enhance productivity, communication, collaboration, data analytics and your business operations.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Offers on mobility, internet, security, and business connect plans can help your thriving business.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><i>Tips:<\/i><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"is-style-default default\"><em>Check that all your software is up-to-date and that your cyber security measures continue to align with your business needs. <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/cyber-safety-for-business-owners-taking-the-first-step\/\" data-dig-id=\"LP-78983-1308b60b\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Learn how to become cyber ready \" class=\"rbc-link-format\">Learn how to become cyber ready <\/a><\/em><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><em>Check your marketing channels to ensure your website, social media, and Google listing are all up to date.<\/em><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><em>Clean up your customer, vendor and supplier databases \u2014 add, remove and update as needed!<\/em><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><em>Review your insurance policies to ensure they line up with the size and scope of your business today.<\/em><\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">7. Take stock of your wins \u2014 and share them!<\/h2>\n\n\n\n<p>By the time December rolls around, it can be tough to remember everything that happened earlier in the year. Take some time to review your wins and accomplishments for 2023, beginning last January 1<sup>st<\/sup>. By itemizing all the great work you and your team did this year, you can see how your business grew, adapted and evolved \u2014 and it gives you a great opportunity to share a positive recap with employees, vendors and clients.<\/p>\n\n\n\n<p><em>Tip: Email valued clients, suppliers, and vendors, thanking them for their contribution to helping you make it through 2023, along with highlighting your business successes and any new plans for 2024.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">8. Prepare your 2024 Business Plan<\/h2>\n\n\n\n<p>When was the last time you looked at your Business Plan? Whether it was a decade ago or last year, now is the right time to review your plan and make necessary adjustments to align with your current goals and circumstances, as well as the state of the current economy. Many business owners also take this opportunity to review compensation packages at year-end to remain competitive \u2014 more than ever,&nbsp;<a href=\"https:\/\/discover.rbcroyalbank.com\/think-only-big-business-can-attract-and-retain-the-best-talent-here-are-6-ways-small-business-can-compete\/\" target=\"_blank\" rel=\"noreferrer noopener\">attracting and retaining<\/a>&nbsp;employees has become a top priority. Be diligent about employee evaluations; properly managed evaluations can play a crucial role in employee performance and boost job satisfaction.<\/p>\n\n\n\n<p>Evaluating and refreshing your 2024 Diversity, Equity and Inclusion goals \u2014 and embedding them into your Business Plan \u2014 is also a good exercise at this time of year.<\/p>\n\n\n\n<p><em>Tip: Set some 2024 financial goals. An important part of your business plan is your numbers, so refreshing your financial goals is one way to keep it current and your business moving forward. Some goals could include better cash flow management, reducing debt, investing more in your business and reducing expenses. Try the free&nbsp;<\/em><a href=\"https:\/\/www.rbcroyalbank.com\/business\/advice\/business-plan-builder\/index.html\" data-dig-id=\"LP-78983-c76633fc\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Business Plan Builder Tool\" class=\"rbc-link-format\">RBC Business Plan Builder Tool<\/a><em>&nbsp;to help you get started on your 2024 plan. Read our article&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/how-to-build-the-best-business-plan-ever-step-by-step-guide\/\" data-dig-id=\"LP-78983-c465f2db\" data-dig-label=\"How to Build the Best Business Plan Ever: Step-by-Step Guide\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">How to Build the Best Business Plan Ever: Step-by-Step Guide<\/a> for further inspiration.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Bottom line<\/h3>\n\n\n\n<p>Taking a close look at how you ended 2023 can help you strengthen your business in the face of challenging economic conditions, enabling you to take on the new year with optimism and confidence. And thinking outside the box when it comes to funding, hiring and operations can open up new ways of doing business that can lead to greater efficiency, productivity and resilience.<\/p>\n\n\n\n<p><b>Other links<\/b><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"is-style-default default\"><a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/lets-talk-about-debt-5-considerations-for-business-owners-today\/\" target=\"_blank\" rel=\"noreferrer noopener\">Let\u2019s Talk about Debt \u2013 5 Considerations for Business Owners Today<\/a><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/5-steps-to-strengthen-your-business-during-a-downward-economic-cycle\/\" target=\"_blank\" rel=\"noreferrer noopener\">5 Steps to Strengthen Your Business During a Downward Economic Cycle<\/a><\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-2eb9f2f5-5453-4696-9e67-eca9f1bf7bd0\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024 &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-c99d4dab-a22c-4c81-93bd-9e895e352af7\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Entrepreneur<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/ideas-and-insights\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Ideas and Insights<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/A-view-through-a-cylindrical-tube-in-a-factory.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A view through a cylindrical tube in a factory\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/A-view-through-a-cylindrical-tube-in-a-factory.jpg 7360w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/A-view-through-a-cylindrical-tube-in-a-factory.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/A-view-through-a-cylindrical-tube-in-a-factory.jpg?resize=768,513 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/A-view-through-a-cylindrical-tube-in-a-factory.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/A-view-through-a-cylindrical-tube-in-a-factory.jpg?resize=1536,1025 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/A-view-through-a-cylindrical-tube-in-a-factory.jpg?resize=2048,1367 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/\">\n\t\t\t\t\t\tCommercial\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-circular-manufacturing-could-be-a-win-for-your-business\/\" class=\"card-title h4 mar-t-0\">How Circular Manufacturing Could Be a Win for Your Business<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"720\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Cash-Flow-Article-Image.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Small business owners looking at financial documents\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Cash-Flow-Article-Image.jpg 6282w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Cash-Flow-Article-Image.jpg?resize=300,211 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Cash-Flow-Article-Image.jpg?resize=768,540 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Cash-Flow-Article-Image.jpg?resize=1024,720 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Cash-Flow-Article-Image.jpg?resize=1536,1080 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Cash-Flow-Article-Image.jpg?resize=2048,1439 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/\">\n\t\t\t\t\t\tCash Flow Management and Financials\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/how-to-build-financial-resilience-with-smart-cash-flow-management\/\" class=\"card-title h4 mar-t-0\">How to Build Financial Resilience With Smart Cash Flow Management<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/03\/iStock-1343159253_b7ad5a.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Woman and trainer lifting weights in a gym\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/03\/iStock-1343159253_b7ad5a.jpg 2121w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/03\/iStock-1343159253_b7ad5a.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/03\/iStock-1343159253_b7ad5a.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/03\/iStock-1343159253_b7ad5a.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/03\/iStock-1343159253_b7ad5a.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/03\/iStock-1343159253_b7ad5a.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/\">\n\t\t\t\t\t\tCash Flow Management and Financials\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/business-insolvencies-avoid-pitfalls\/\" class=\"card-title h4 mar-t-0\">Business Insolvencies Remain High in Canada: Avoid These 6 Pitfalls to Reduce Your Risk and Improve Your Financial Resilience<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-2eb9f2f5-5453-4696-9e67-eca9f1bf7bd0 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-2eb9f2f5-5453-4696-9e67-eca9f1bf7bd0 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-c99d4dab-a22c-4c81-93bd-9e895e352af7 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-c99d4dab-a22c-4c81-93bd-9e895e352af7 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>Here are 8 essential steps to close out your 2023 books and look forward to 2024.<\/p>\n","protected":false},"author":80,"featured_media":79005,"parent":57333,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[157,76],"rbc_content_type":[31],"rbc_audience":[110],"rbc_lob_group":[35],"rbc_difficulty_level":[33],"rbc_mmm_category":[305,386,324],"class_list":["post-78983","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-entrepreneur","tag-ideas-and-insights","rbc_content_type-article","rbc_audience-business-owners","rbc_lob_group-business","rbc_difficulty_level-beginner","rbc_mmm_category-business","rbc_mmm_category-cash-flow-management-and-financials","rbc_mmm_category-managing-your-business"],"acf":{"contently_publication_id":"375257","custom_author":"Diane Amato","rbc_video_header":"","rbc_media_duration":"","rbc_video_keywords":"","rbc_video_description":"","rbc_video_upload_date":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Here are 8 essential steps to close out your 2023 books and look forward to 2024.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"Here are 8 essential steps to close out your 2023 books and look forward to 2024.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Royal Bank\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-04T13:53:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80\" \/>\n\t<meta property=\"og:image:width\" content=\"2120\" \/>\n\t<meta property=\"og:image:height\" content=\"1414\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/\"},\"author\":{\"name\":\"jacquelinewu\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/#\\\/schema\\\/person\\\/d055d46e444faf6863d781f24c107a5e\"},\"headline\":\"Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024\",\"datePublished\":\"2023-11-21T20:16:36+00:00\",\"dateModified\":\"2024-09-04T13:53:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/\"},\"wordCount\":2108,\"image\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/11\\\/iStock-1412652081.jpg?quality=80\",\"keywords\":[\"Entrepreneur\",\"Ideas and Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/\",\"name\":\"Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024 - My Money Matters\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/11\\\/iStock-1412652081.jpg?quality=80\",\"datePublished\":\"2023-11-21T20:16:36+00:00\",\"dateModified\":\"2024-09-04T13:53:21+00:00\",\"description\":\"Here are 8 essential steps to close out your 2023 books and look forward to 2024.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/11\\\/iStock-1412652081.jpg?quality=80\",\"contentUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/11\\\/iStock-1412652081.jpg?quality=80\",\"width\":2120,\"height\":1414,\"caption\":\"Ethnic small business owner smiling cheerfully while standing in her shop. Happy businesswoman managing her clothing orders on a laptop. Black female entrepreneur running an online clothing store.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"My Money Matters\",\"item\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Managing Your Business\",\"item\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Cash Flow Management and Financials\",\"item\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/#website\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/\",\"name\":\"RBC Royal Bank\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/#\\\/schema\\\/person\\\/d055d46e444faf6863d781f24c107a5e\",\"name\":\"jacquelinewu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g\",\"caption\":\"jacquelinewu\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"description":"Here are 8 essential steps to close out your 2023 books and look forward to 2024.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/","og_locale":"en_US","og_type":"article","og_description":"Here are 8 essential steps to close out your 2023 books and look forward to 2024.","og_url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/","og_site_name":"RBC Royal Bank","article_modified_time":"2024-09-04T13:53:21+00:00","og_image":[{"width":2120,"height":1414,"url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/#article","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/"},"author":{"name":"jacquelinewu","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/d055d46e444faf6863d781f24c107a5e"},"headline":"Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024","datePublished":"2023-11-21T20:16:36+00:00","dateModified":"2024-09-04T13:53:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/"},"wordCount":2108,"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80","keywords":["Entrepreneur","Ideas and Insights"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/","name":"Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024 - My Money Matters","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/#primaryimage"},"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80","datePublished":"2023-11-21T20:16:36+00:00","dateModified":"2024-09-04T13:53:21+00:00","description":"Here are 8 essential steps to close out your 2023 books and look forward to 2024.","breadcrumb":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/#primaryimage","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80","contentUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80","width":2120,"height":1414,"caption":"Ethnic small business owner smiling cheerfully while standing in her shop. Happy businesswoman managing her clothing orders on a laptop. Black female entrepreneur running an online clothing store."},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"My Money Matters","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/"},{"@type":"ListItem","position":3,"name":"Managing Your Business","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/"},{"@type":"ListItem","position":4,"name":"Cash Flow Management and Financials","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/"},{"@type":"ListItem","position":5,"name":"Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024"}]},{"@type":"WebSite","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/","name":"RBC Royal Bank","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/d055d46e444faf6863d781f24c107a5e","name":"jacquelinewu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g","caption":"jacquelinewu"}}]}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024","url":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\/"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80&w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80"},"articleSection":"Uncategorized","author":[{"@type":"Person","name":"jacquelinewu"}],"creator":["jacquelinewu"],"publisher":{"@type":"Organization","name":"RBC Royal Bank","logo":""},"keywords":["entrepreneur","ideas and insights"],"dateCreated":"2023-11-21T20:16:36Z","datePublished":"2023-11-21T20:16:36Z","dateModified":"2024-09-04T13:53:21Z"},"rendered":"<script type=\"application\/ld+json\" class=\"wp-parsely-metadata\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Tackle Year End Like A Boss: 8 Steps to Close your Books and Plan for 2024\",\"url\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/managing-your-business\\\/cash-flow-management-and-financials\\\/tackle-year-end-like-a-boss-8-steps-to-close-your-books-and-plan-for-2024\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/11\\\/iStock-1412652081.jpg?quality=80&w=150&h=150&crop=1\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/11\\\/iStock-1412652081.jpg?quality=80\"},\"articleSection\":\"Uncategorized\",\"author\":[{\"@type\":\"Person\",\"name\":\"jacquelinewu\"}],\"creator\":[\"jacquelinewu\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"RBC Royal Bank\",\"logo\":\"\"},\"keywords\":[\"entrepreneur\",\"ideas and insights\"],\"dateCreated\":\"2023-11-21T20:16:36Z\",\"datePublished\":\"2023-11-21T20:16:36Z\",\"dateModified\":\"2024-09-04T13:53:21Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/rbcroyalbank.com\/p.js"},"featured_img":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/iStock-1412652081.jpg?quality=80&w=1024","coauthors":[],"author_meta":{"author_link":"https:\/\/www.rbcroyalbank.com\/en-ca\/author\/jacquelinewu\/","display_name":"jacquelinewu"},"relative_dates":{"created":"Posted 2 years ago","modified":"Updated 2 years ago"},"absolute_dates":{"created":"Posted on November 21, 2023","modified":"Updated on September 4, 2024"},"absolute_dates_time":{"created":"Posted on November 21, 2023 3:16 pm","modified":"Updated on September 4, 2024 9:53 am"},"featured_img_caption":"Ethnic small business owner smiling cheerfully while standing in her shop. Happy businesswoman managing her clothing orders on a laptop. Black female entrepreneur running an online clothing store.","tax_additional":{"post_tag":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"advgb-post-tax-term\">Entrepreneur<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/ideas-and-insights\/\" class=\"advgb-post-tax-term\">Ideas and Insights<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Entrepreneur<\/span>","<span class=\"advgb-post-tax-term\">Ideas and Insights<\/span>"],"slug":"post_tag","name":"Tags"},"rbc_content_type":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/content-type\/article\/\" class=\"advgb-post-tax-term\">Article<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Article<\/span>"],"slug":"rbc_content_type","name":"Content Types"},"rbc_audience":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/audience\/business-owners\/\" class=\"advgb-post-tax-term\">Business Owners<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Business Owners<\/span>"],"slug":"rbc_audience","name":"Audiences"},"rbc_lob_group":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/lob-group\/business\/\" class=\"advgb-post-tax-term\">Business<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Business<\/span>"],"slug":"rbc_lob_group","name":"LOB Groups"},"rbc_difficulty_level":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/difficulty-level\/beginner\/\" class=\"advgb-post-tax-term\">Beginner<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Beginner<\/span>"],"slug":"rbc_difficulty_level","name":"Difficulty Levels"},"rbc_mmm_category":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/business\/\" class=\"advgb-post-tax-term\">Business<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/cash-flow-management-and-financials\/\" class=\"advgb-post-tax-term\">Cash Flow Management and Financials<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/managing-your-business\/\" class=\"advgb-post-tax-term\">Managing Your Business<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Business<\/span>","<span class=\"advgb-post-tax-term\">Cash Flow Management and Financials<\/span>","<span class=\"advgb-post-tax-term\">Managing Your Business<\/span>"],"slug":"rbc_mmm_category","name":"Categories"},"ep_custom_result":{"linked":[],"unlinked":[],"slug":"ep_custom_result","name":"Custom Results"}},"series_order":"","jetpack_sharing_enabled":true,"primary_tag":"157","primary_rbc_mmm_category":"305","_links":{"self":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/78983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter"}],"about":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/types\/rbc_my_money_matter"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/users\/80"}],"version-history":[{"count":11,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/78983\/revisions"}],"predecessor-version":[{"id":89391,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/78983\/revisions\/89391"}],"up":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/57333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media\/79005"}],"wp:attachment":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media?parent=78983"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/tags?post=78983"},{"taxonomy":"rbc_content_type","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_content_type?post=78983"},{"taxonomy":"rbc_audience","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_audience?post=78983"},{"taxonomy":"rbc_lob_group","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_lob_group?post=78983"},{"taxonomy":"rbc_difficulty_level","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_difficulty_level?post=78983"},{"taxonomy":"rbc_mmm_category","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_mmm_category?post=78983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}