Smart Money Moves: How to Use Bookkeeping to Grow Your Business

Running a business without tracking your numbers is like navigating a maze with your eyes closed. Bookkeeping, at its core, is simply about paying attention to three essential things: how much you’re earning, how much you’re spending, and how much you have left. When you make it a habit to document these consistently, you can clearly see how much profit you’re actually making.

This clarity allows you to make smarter business decisions. Should you increase your stock? Can you afford to hire help? Are you overspending in one area? Without data, you’re guessing. With data, you’re growing.

“Your business is like your body. You won’t know what’s wrong unless you track it, just like standing on a scale.”

Here are the three most important numbers every entrepreneur should monitor, no matter how small your business is:

• Expenses – This is everything you spend to keep the business running: stock, rent, salaries, transport, even that “quick” lunch with a supplier. If money leaves your pocket or account for the business, it’s an expense.
• Sales – This is the fun part. It’s what you earn when customers pay you. But it’s not enough to just count the cash in hand. You need to record what was sold, how much was paid, and whether it was full or part payment.
• Cash Balance – This is the number most business owners guess (and usually guess wrong). It’s what’s left after all expenses are taken out of all your sales. It’s your real spending power. Knowing it helps you avoid surprise shortfalls.

If you aren’t tracking these three, you’re driving blind.

Bookkeeping doesn’t have to be a burden. The most successful small business owners develop simple habits that make it second nature:

• Separate business from personal money
  Use different accounts or wallets if you have to. When you mix the two, you lose sight of what the business really earns and it’s easy to overspend.
• Document everything regularly
  Don’t wait until the weekend. Or next week. Or the end of the month. Whether it’s daily, weekly, or just before bed, find a rhythm that works and stick to it. The fresher the transaction, the easier it is to record.
• Categorise your transactions
  Selling drinks? Break them down into alcoholic and non-alcoholic. Buying stock? Track whether it’s inventory or marketing materials. Categories help you spot what’s making you money and what’s draining it.
• Write the right info
  Always note whether it’s an income or expense. Avoid cramming everything into a single notebook page. Neatly separate sales and spending, and always note the date, amount, and what it was for.
• Store your records properly
  Whether you use a notebook, Excel sheet, or the Oze app, keep your records safe, legible, and backed up. One spilled drink shouldn’t wipe out a month of business data.

These habits may seem small, but they build a foundation that can transform how you run and grow your business.

Imagine two entrepreneurs. One is surrounded by piles of paper receipts, a calculator, and a ledger book. The other simply pulls out their phone and opens the Oze app. If they both need to check how much they made last month, who do you think will finish faster?

Switching to digital bookkeeping doesn’t just save you time. It frees you up to focus on growth. Instead of spending hours adding up figures manually, you could be planning a promotion, researching new suppliers, or even resting. In today’s business world, time is money and digital gives you more of both.

With the Oze app, your business gets a smart assistant in your pocket, ready to help at every step:

• Record sales & expenses instantly – Whether it’s cash, bank, or mobile money, log transactions in seconds.
• Send invoices and receipts – Impress your customers and stay professional with clean, branded documents.
• Track who owes you (and remind them) – No more awkward calls or forgotten debts. The app keeps tabs for you.
• See your cash balance at a glance – Know how much you really have left before you spend.
• Monitor inventory and stock flow – Keep an eye on what’s flying off your shelf and what’s gathering dust.
• Export financial reports – When it’s time to make a big decision or apply for a loan, you’ll have the numbers ready.
• Apply for loans with data-backed proof – Show lenders that you run a serious, well-documented business.

“If you can’t say exactly how much cash you have, how will you know if you can pay rent this month?”

One of the biggest barriers to funding for small businesses isn’t access. It’s organisation. Lenders want to see how your business is doing, and that means you need to have your numbers in order. If you can’t confidently say how much your business earns or spends each month, it becomes difficult to convince anyone to give you money.

Start by identifying exactly why you need the loan. Is it to restock? Buy equipment? Expand your space? The clearer your funding need, the better. Then, show that you’ve made some commitment on your own. Even small investments in your business show seriousness. And when you repay loans on time, you become eligible for even bigger support in the future.

If you’re serious about growing your business, don’t leave things to chance. Download the Oze app from the Play Store or App Store. Start recording every transaction. Keep your business and personal finances separate. Make time each week to review your numbers. Use your data to plan, prioritise, and grow.

Take the quiz now and claim your certificate from this Oze Business School course. Your journey to becoming a smarter business owner starts now.

Take the quiz and get certified now!