At Insight Finance Solutions Ltd, we’re here to take the stress out of your finances. Whether you’re a business owner trying to grow, or simply looking for some clarity, you’re in the right place. Below are some of the most common questions we’re asked – and how we can help.

“What’s a Profit and Loss Account?”

A profit and loss account shows how your business is performing over a period of time. Think of it as telling the story of your business’ trading activity with how much money your business has earned (income) and spent (expenses) with what is left over (or not!) being the profit or loss. It’s a useful way to understand what’s going well, what might need to change, and where your money is going as well as providing a basis to calculate tax owed to HMRC.

“What’s a Balance Sheet?”

A balance sheet shows how your business is growing and provides a snapshot of what your business owns (assets) and what it owes (liabilities) at a certain moment in time. It gives you a clear idea of how healthy your business is and how much it’s worth. It’s also really helpful when you’re making big decisions or talking to lenders and investors.

“If I’ve Made All That Profit, Why Don’t I Have The Cash in My Bank Account?”

This is one of the most common questions we hear – and it’s a good one! Profit doesn’t always equal cash. You might have unpaid invoices, stock sitting on shelves, or loan repayments going out. We can help you break this down clearly, so you understand where your money really is – and what to do next.

“Why Do I Need Management Accounts?”

Management accounts are regular reports that show how your business is doing right now. Unlike year-end accounts, which look back at the past, these help you keep track of things month by month. They make it easier to plan ahead, spot problems early, and make better decisions. You can read more about why they’re so useful in our blog here.

“Can You Tell Me How Much I Need To Save Each Month For Tax?”

Absolutely – that’s one of our most popular services. We’ll help you understand your tax obligations and set up a system that works for you. That way, you won’t have any nasty surprises when your tax bill comes in. Instead, you’ll have peace of mind and a clear plan in place.

“I’m In a Mess, Can You Please Help Me?!”

Yes, we can – and you’re not alone. Whether your books are behind, your taxes feel overwhelming, or you’re simply not sure where to start, we’re here to support you. No judgement, no jargon – just calm, friendly advice and a plan to get you back on track.

“I Can’t Pay My Corporation Tax or VAT – What Do I Do?”

First things first: don’t panic. There are always options. We can work with you to understand your cash flow, speak to HMRC if needed, and put a plan in place to manage the situation. The key thing is not to ignore it. Let’s chat and find the best way forward.

“Can I Take On a New Team Member, Premises or Buy More Stock?”

That depends on your current numbers – and your future goals. We’ll look at your cash flow, profitability, and forecast to help you make a clear, informed decision. Sometimes the answer is yes, sometimes it’s “not yet” – but we’ll always give you the full picture so you can move forward with confidence.

“Can You Help Me Get a Mortgage?”

Yes, we can help with that too. Whether you’re self-employed, a limited company director or running a growing business, we can prepare the financial information lenders need – and guide you through the process. We can work with your mortgage advisor to find out what they need to see, and make sure your accounts are in order and tell your story in the right way.

“Can You Save Me Time?”

Yes – and that’s what most of our clients love most about working with us. From sorting your bookkeeping to dealing with HMRC and helping you plan for the future, we take the weight off your shoulders so you can focus on what you do best. You didn’t start a business to get lost in spreadsheets – we did.

Need more help? Get in touch today and let’s talk through your questions, worries or goals. At Insight, we’re more than just accountants – we’re your financial partners, here to make things simple.