As we conclude the month of Tishrei, which is a month full of festivals, when we don’t say tachnun (from erev Yom Kippur) until the end of the month – and when we resume saying tachnun in the month of Cheshvan (after Rosh Chodesh) we are not accustomed yet to say tachnun [because this time period is still under the influence of the Yomim Tovim, especially before the seventh of Cheshvan] –
The cheshbon-tzedek ("just accounting") [and subsequent teshuva] is in a form of simcha, also the teshuva-tata’a (lower teshuva) which precedes Shabbos:
This is emphasized in this week of parshas Noach, which is the first full week of avoda in an ordinary weekday setting. It is now a time when we should make a cheshbon-tzedek where we are at:
The Previous Rebbe, nassi doreinu, stated that all aspects of our avoda have already been completed, including the "polishing of the buttons," and we stand ready to accept and greet our righteous Moshiach; The purpose of the "just accounting" done in this period, is the immediate need for the true and complete Redemption to come in actual reality!
To elaborate:
Although a person realizes his own situation, that there are things which need to be rectified, this doesn't, G-d forbid, contradict the statement of the Previous Rebbe, nassi doreinu, that we have already completed the Divine Service and stand ready to greet our righteous Moshiach, because over the course of the generations, during the time of exile, the Jewish people has collectively concluded and perfected their avoda which was required to bring the complete Redemption (which depends on "our deeds and service during the entire period of exile" (Tanya ch. 37).
There is absolutely no explanation or reason for the delay of the Redemption. Therefore, even if something is missing in an individual's Divine service over the course of time that the Redemption has been delayed for whatever reason, this is a personal matter which certainly needs to be rectified and completed. But this does not diminish, G-d forbid, the completion and perfection of the "actions and service" of the Jewish people as a whole, which stands ready for the Redemption.
This is why, also the personal avoda of rectifying and completion of an individual is easier, and can be done with joy, knowing that the true and complete Geula is coming imminently.
The entire Jewish people are compared to one body, and the deficiency of an individual is merely a slight, external ailment, which can be healed easily and quickly – this includes especially the healing through teshuva.
If this was said by the Previous Rebbe, nassi doreinu, in his times, how much more so now, after several decades have passed since then, and we have attained greater and deeper understanding.
...As we are preparing to read parshas Lech Lecha, which indicates a double "going forth" – a quicker "going out" of golus – which will be "And behold! With the clouds of heaven" (Daniel 7:13), because all the predetermined times have certainly passed, and teshuva has already been done, now it doesn’t depend only on our righteous Moshiach himself!
(Shabbos Parshas Noach, 4 Cheshvan, 5752)