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Join for freePosted: Tue 9th Jun 2026
Money worries can quietly influence the way you lead, plan and make decisions. When the numbers seem unclear, even good work can feel harder than it needs to.
In this Lunch and Learn, Genny Jones, The Joyful Accountant explains how getting to grips with your finances can reduce stress, build your confidence and make you a healthier leader.
This session is ideal for purpose-led organisations, trustees, leaders, founders and anyone who wants to feel more confident about finance without losing their joy.
Building confidence with finance: How to understand key reports such as budgets, cash flow forecasts and management accounts without feeling overwhelmed
Reducing stress around numbers: Practical ways to approach finances with more confidence
Creating balance as a leader: How financial confidence and personal wellbeing can work together to support sustainable leadership
Genny is the founder of Genny Jones Training Ltd, an accounting trainer, a speaker and a wellbeing facilitator with over 30 years' experience supporting charities, CICs, trustees and purpose-led organisations.
Having worked from bookkeeper to head of finance in the charity sector, Genny now helps organisations understand finance in a practical and engaging way through training, mentoring and consultancy.
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Lightly edited for clarity.
Beth: Hello, and welcome to today's Lunch and Learn. My name is Beth, and I'll be your host today.
For those of you attending a Lunch and Learn for the first time, Enterprise Nation is a vibrant community platform for start-ups and small businesses. I'm very pleased to introduce Genny Jones, who is an accounting trainer.
In this session, Genny will show you how understanding your finances can reduce stress, build confidence and make you a healthier leader. If you have any questions throughout the webinar, please post them in the chat, and we'll do our best to answer them at the end.
Today's webinar will be recorded, and we'll send a follow-up email with the recording and further resources later today. Over to you, Genny.
Genny: Thank you so much, Beth. Good morning, everyone, and welcome to this webinar.
I'm Genny Jones, and they call me the Joyful Accountant. I guess you don't see many accountants who are joyful. But after 30 years in finance, I realised that many people fear numbers. My mission is to take the stress out of finance and replace it with confidence, clarity and peace of mind.
When you understand your finances, you make better decisions, reduce worry and focus on what you do best. Finance and joy can come together, and hopefully you'll see that by the end of this session.
Today, we're looking at how to reduce stress around business finance. My aim is to help you feel calmer, clearer and more confident when you're looking at the financial part of your business.
My full name is Genevieve, which is why Genny is spelled with a G. But Genny is fine.
When we look at finance, I always say that money worries affect more than money. Money worries can quietly influence the way we lead, the way we plan and the way we make decisions. When the numbers feel unclear, even good work can feel harder than it needs to be.
As a business owner myself, I can see the pressure I feel when I don't understand my figures or when my figures don't come on time.
Financial confidence doesn't mean knowing everything. It means knowing what matters, where to look and what action to take.
Sometimes business owners leave the finance to someone else. They'll say, "Genny, I've got an accountant, and the accountant does everything for me."
That's fine, but do you understand the figures? When the accountant gives you a profit and loss or balance sheet, do you understand what it means, or do you just accept the figures?
You don't have to do the accounts yourself, but you do need to understand what they mean. You also need to ask questions and be able to take relevant action.
A lot of people say to me, "I run my business. What do I need to know? I've got my accountant. I've got my bookkeeper. They're doing everything for me."
I usually say there are three reports that matter most. The first is the budget. The budget shows what you planned. When you're running a business, you may have a business plan. The business plan is the words. It tells you what you're going to do this year. But you also need the figures. How many things are you going to sell? What are you going to buy? What is your day-to-day expenditure?
The second report is a cash flow forecast. The budget is for the year, while the cash flow forecast is something you monitor on a regular basis. I do mine every Monday. I look at the money I have in the bank, the payments I need to make and what is coming in.
The third report is your management accounts. The management accounts show what is really happening now.
These three reports help you move from guessing to managing with confidence. A lot of business owners tell me they know how much profit they're making, but when I ask what they mean by profit, they're often thinking of the money they have in the bank. That isn't the same thing.
Let's break this down.
The budget is your financial plan for the year. My financial year starts on 1 April. Before then, around September, I sit down, write a business plan and say: this is what I want the business to do next year. That's the written plan.
Then I create the financial plan. I look at sales and ask: what are my sales predictions? How much income am I going to get?
I do training, consultancy and coaching, so I list those down and populate a spreadsheet with how much income I need for the year and how much expenditure I expect.
I do the same for anything I'm buying and for day-to-day overheads such as printing, postage and stationery. I calculate expected income and expected expenditure. That gives me a balance, so I can see whether I'm likely to make a surplus or a deficit.
So the budget is a financial plan of your expected income and expenditure for the year. I do full sessions on budgeting, where I work with people on how to create one properly.
Once we have the budget for the year, the next report is the cash flow forecast. With the cash flow forecast, I'm looking at money coming in and going out.
For example, when I raise an invoice, I expect people to pay within 30 days. Some may pay within 60 days, but on the whole, most tend to pay within 30 days.
I then project my sales income and ask: what do I expect in 30 days? What do I expect in 14 days? I make a rough projection of the money coming in.
I go through my expenditure too. I look at regular costs such as salaries and insurance. Salaries are paid monthly. In my case, insurance is paid annually. I predict what is going out, then compare that with the money coming in and my bank balance.
The cash flow forecast tells me whether I'm going to have money in the bank. It shows whether I'm likely to be overdrawn.
That's important because it tells you your bank position. If, at the end of this week, I realise I'm overdrawn, I need to ask why. What bills do I have to pay next month? Who do I need to chase?
The cash flow forecast is important because it looks at timing: when money comes in and when you need to make payments. The budget is for the year. The cash flow forecast can be broken down monthly, and some people do it weekly.
Then we have the management accounts. This is where we compare what we planned with what actually happened.
For example, in the budget I might have said I was going to have sales of £50,000 for a particular month. But the actual sales came to £20,000. I then need to look at the variance, which is the difference between what I budgeted for and what actually happened.
I can then ask why. Did I not make enough sales? Was expected consultancy income delayed? Did another activity not happen?
I then look at expenditure. Why is my expenditure different from what I budgeted for? For example, I might have budgeted £1,000 for printing, but actually spent £2,000 because I needed to print a lot of leaflets.
I believe management accounts should be done regularly. I do mine monthly, because then I can compare budget against actuals and take action immediately. If you can't do it monthly, you can do it quarterly.
Accounting software can help with this. If it's set up properly, you can print a report showing your budget against your actuals, and then you can see the variance.
So the three reports you need are: the budget for the year, the cash flow forecast broken down regularly, and management accounts for decision making. You can do management accounts monthly or quarterly, but you should have them.
A lot of business owners wait until the end of the year. When I ask how much profit they're making, they say they're waiting for the accountant to tell them.
But to run a business effectively, you need a system where every month or every quarter you know the state of play. Are you making a profit or a loss? Then you can take action now, rather than waiting until the end of the year.
When you have these reports, people often ask how to read them. Sometimes the reports can feel overwhelming because there are figures everywhere. But take a deep breath and start with one report at a time.
The budget is the starting point for the year. The cash flow forecast can be reviewed monthly. Ask: what money is coming in? What money is going out? What is it telling me? What action do I need to take?
Look for trends, not perfection. For example, with my training sessions, I know I'm usually OK up to June. Between July and August, I don't have as much training income coming in, so I either plan other work or, more often, I go on holiday.
Ask simple questions. If someone presents your management accounts and there's a difference between budget and actuals, ask why. Why have we got fewer sales? Why are we paying more on insurance? Why are we paying more on telephone costs?
Keep a regular finance rhythm. Know when you're going to do your budget. Know when you're reviewing your cash flow. Know whether you're doing management accounts monthly or quarterly.
The bookkeeping is also crucial. To look properly at your budget, cash flow and management accounts, you need to make sure your bookkeeping system is up to date.
If someone does your bookkeeping, I suggest checking at the end of each month. Has the bookkeeping system been updated? Have they reconciled things with the bank account? Who do we owe? Who owes us?
If your bookkeeping is not up to date, you can't really rely on your management accounts. Have a system in place so that, monthly, you check: have we recorded all our invoices? Have we captured all our expenses? Has the bank been reconciled?
From bookkeeping, you can then prepare your management accounts and compare budget against actuals.
There are simple questions you can ask. Do we have enough cash in the bank each month? Are we on track against budget? If you said you were going to run ten training courses each month, are you on track? What needs improving? What needs attention?
If your sales figures show you're not reaching your sales target, you need to stop and take action. Look at income, look at expenditure, and make sure you are on track.
If things are tough, I believe you should do management accounts monthly. It keeps you more up to date.
Finance and wellbeing work hand in hand. Financial confidence supports sustainable leadership. When you feel clear about the numbers, you can lead with more energy, balance and resilience.
Imagine you came to work today and looked at the management accounts for the last quarter. Sales have gone up, expenditure is down and you've made a profit. That feels good. Your whole outlook changes because you can see that the business has been doing well.
But if you look at the management accounts and see that sales are down and expenditure has increased, you immediately start thinking: what do we do about this? As a business owner, that affects your whole body and stress levels. You start thinking about how you'll manage and pay the bills.
But if you can take a deep breath and say, "Every Monday, I'm going to look at my bank statement, my spreadsheet or my software, and review income and expenditure," you can spot problems earlier. If things are not going the way you want, you can stop and take action.
When things go wrong financially, when you don't have money to pay people or there are bailiffs at the door, it's not a good place to be. If you have a team, they feel that stress as well.
One of my clients once said, "Genny, we can't pay you this month." I asked what had happened, because they were expecting £70,000. I spoke to their bookkeeper and realised the debtors hadn't been chased. People hadn't paid for 60 or 90 days.
The manager said, "Genny, I'm so busy doing my work that I rely on the bookkeeper to do all of that."
As business owners, we have to realise that we own the business. Yes, you can have a bookkeeper. Yes, you can have an accountant. But you also need the confidence and knowledge to ask what your bookkeeper is doing and whether things are on track.
Have a checklist for the bookkeeper or for yourself. Every Monday, ask: have I recorded all my income? Have I sent all my invoices? Who do I need to pay? Have I got enough money in the bank?
When you do this regularly, you have the confidence to say: I'm running my business, and I know where we are at each stage.
You can't just rely on other people. You need to say to yourself: I need enough confidence to understand my business finance. I may not be doing the bookkeeping. I may not be doing the end-of-year accounts. But when I'm given a budget, I can question the figures.
When I look at a cash flow forecast, I can ask why we might be overdrawn in August or September. When I see management accounts, I can ask why sales haven't reached the target.
As business owners, we are passionate about our businesses, but we must remember that the figures are really important. You don't have to know how to do everything. You just need to understand the figures and know the questions to ask.
As a next step, review one key report regularly. Even before that, sit down and check whether your bookkeeping system is up to date.
If you use a bookkeeper or accountant, ask: have we done the bank reconciliation? Is it up to date? Have we done it monthly? If you haven't checked against the bank, your management accounts may not be right. Have we picked up all invoices? Have we sent invoices out? Have we chased payments?
The bookkeeping stage is really important. Raise invoices, send chasing letters, pay the bills, reconcile the bank and make sure everything is recorded. Then you can look at budget against actuals and ask: how am I doing?
Do this regularly, whether monthly or quarterly. Insist that you have the figures because you don't want to wait until the end of the year. That is too late. Ask questions. If you don't understand the terminology your accountant uses, ask them to explain it in plain English.
Build one support habit instead of a panic habit. Don't wait until something goes wrong and you don't know who owns it. Be calm and say: I'm going to have a system where my bookkeeping is up to date, my budget is up to date and my management accounts are up to date. Every month or every quarter, I will know my budget against actuals, my variance and the action I need to take.
Thank you very much for listening. I'll now see if there are any questions I can answer.
Beth: Thanks, Genny. We do have some questions.
You talked about making sure you understand the terminology, and if you don't, asking someone to explain it. We had a question in the chat: what is bank reconciliation?
Genny: Bank reconciliation is where you look at your bank statement and check it against your accounting records.
Let's say you've made a payment for your telephone bill. You check whether that payment has gone through the bank and whether it has been recorded correctly in your bookkeeping system.
You're checking that income and payments match, so that your reports are accurate.
Beth: Great, thank you. We've had another question.
If you're at the start of the road and want to do the bookkeeping yourself, what is the best practice guide or research you could consult to learn more about it?
Genny: The starting point is to ask what type of business you run.
For example, I run a training business. Am I registered for VAT? That's one of the basics. Then ask: do I have any bookkeeping knowledge? If not, can I go on a short course that explains bookkeeping?
There are one-day courses that show you the basics. When you're running a business, you need to keep track of income and expenditure, and check it against the bank.
I would start with a basic business finance or bookkeeping course. There are also resources on Enterprise Nation around simple bookkeeping systems. You may also want someone to work with you at the start to make sure you get it right.
Beth: That makes sense. Another question here: can you find one accountancy service that offers all different services, or should you seek separate individuals for different accountancy needs?
Genny: I believe you should find an accountant who understands your type of business.
For example, I do a lot of charity accounts, so I know a lot about charity accounts. But if someone is a dentist, they shouldn't necessarily come to me, because I don't know much about dentistry.
Find an accountant who understands your business and ask for references from people in similar businesses. That accountant will understand not just the accounts, but also the tax issues that apply to your type of business.
Beth: Thank you. Maggie would like to know whether it's worth getting a tax adviser.
Genny: Yes. A lot of accountancy firms do both accounts and tax. But especially in the first year, there may be things you don't know you can claim for.
If you're a limited company, you may not know what to do for corporation tax. If you're self-employed, you may not know what allowances to claim. I always believe it's worth getting professional advice, especially when you're starting out.
Beth: Which bank would you say is most start-up friendly? Do you have any recommendations?
Genny: Unfortunately, I can't recommend a bank because I work with lots of small businesses, and they all use different banks.
One person will say one bank is good, and another person will say it isn't. You need to research which one is best for your needs.
Beth: For someone who feels intimidated by financial information, where is the best place to start?
Genny: They need to contact me for a free 30 minutes, and I'll make accounting exciting.
I failed maths at school and hated maths, and now I'm an accountant. That's why they call me the Joyful Accountant. If I explain profit and loss, balance sheet or break-even point, you'll be excited by it.
So whoever asked that question, please send me a message.
Beth: You don't often hear of a joyful accountant. I love the energy. In your opinion, what is the connection between financial confidence and overall wellbeing?
Genny: It's really important. A lot of people come to me and as soon as I mention numbers, they start sweating. They think of the tax office, the accountant or the figures, and they feel frightened.
The best thing is to sit with someone who can say: you're running a business, and you want to know whether you're making a profit.
Running your business finance is like running your personal finance. Have I got enough money to pay my bills? If not, what do I do? Where is the money coming from?
If you look at it in a way that relates to your personal finances, it becomes easier to understand. It's the same principle when you're running a business.
Beth: How can a leader distinguish between a healthy amount of financial concern and unhelpful financial worry?
Genny: A healthy amount of concern is when, as a business owner, you know your income and expenditure each month. You know whether you're making a profit.
For example, when I look at my May figures, I can relate to them. I know roughly how many training courses I delivered and how much income I generated. I know my expenditure. So when someone gives me the figures, I can spot if something doesn't look right.
It's about looking at the figures and letting them be meaningful to you. If you do that regularly, it really works.
From now on, I challenge you to spend 30 minutes every Monday morning focusing on your finances.
Beth: Sue in the chat echoes that. She says: "Genny, love your energy. When running a small business, balancing the books is always left to the bottom of the list. I'm going to try and put it to the top. Thirty minutes with you would be amazing."
Claudia also says thank you for a great session and is going to book that call too.
Unfortunately, that's all we have time for today. A massive thank you to you, Genny. I've popped Genny's LinkedIn and Enterprise Nation profile in the chat, so please do reach out and book that call.
Thank you for joining today's webinar. We'll share the recording and further resources in a follow-up email this afternoon. Thanks again for your time, Genny, and thanks everyone for joining.
Genny: Thanks. Bye.
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