Ever looked at your business bank account and thought, “Where’s it all gone?”
Or felt unsure whether you can actually afford to hire, invest, or pay yourself more?
You’re not alone.
Plenty of business owners feel uncertain about their business finances, not because they’re bad with money, but because they’re missing a clear financial picture. The good news? That confidence is absolutely within reach, and it starts with knowing what might be getting in the way.
Here are 3 common reasons business owners misread their business finances, and how to fix them.
If your main way of “checking in” with your business finances is glancing at your bank account, you’re only seeing part of the picture.
Your bank balance doesn’t show:
What to do instead:
Start tracking income, outgoings, and cash flow regularly, ideally weekly or monthly. Cloud-based accounting software can help, or even a simple spreadsheet to begin with. The key is consistency.
Our team of Bedford accountants can also help you set up the right tools and processes to make this easier and more accurate from the start.
Many business owners think they know their margins – until they do the maths.
If you’re not clear on how much profit you’re making per product, service or client, you might be pricing too low to be sustainable… or working too hard for too little return.
What to do instead:
Calculate your true costs (including time, tools, and overheads), and build healthy margins into your pricing. One client I spoke to recently made a small tweak to their quote pricing and instantly turned a £200 profit, without doing anything extra.
Need help working through the numbers? Speaking to an experienced accountant in Bedford could give you the clarity and structure to price more confidently.
This is completely understandable, but dangerous.
Avoidance can lead to missed opportunities, surprise tax bills, or cash flow gaps you didn’t see coming.
What to do instead:
You don’t need to become a finance expert. You just need simple systems, a few key metrics, and regular check-ins that make sense to you. If you’re not sure where to start, that’s exactly what we support clients with at TNQ.
Whether you’re looking to tidy up your business finances or scale with more control, our Bedford accountants can help you build the confidence to take the next step.
You don’t need to dive into every spreadsheet or become your own accountant.
But understanding your business finances gives you control. And with control comes the confidence to make decisions, plan for growth, and sleep better at night.
Want help making sense of your numbers?
Join our next free Lunch & Learn: Know Your Numbers session on Wednesday 24th July at 12:30pm.
We’ll cover simple, practical ways to understand and take control of your business finances, no jargon, no judgement.
Whether you’re just starting out or want a fresh perspective, you’re welcome to pull up a chair (and your lunch) and learn something valuable.