Academy›💰 Money and records

Keep business money separate

The habit that makes every other part of running a business easier.

⏱ 5 min Lesson 1 of 4

Open a business bank account and a MoMo merchant number. All business money goes in and out there.

Take a fixed amount for yourself each week or month — not whatever is in the drawer.

If you take money or stock for home, record it as drawings.

Now your statements show what the business really makes.

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📌What you need to know

When home and business money mix, you cannot tell whether the business is making a profit.
Banks lend on the history in a business account, not a personal one.
Stock taken home is a cost to the business — record it, or your stock count will never match.
A fixed salary for yourself is a cost you can plan for.

Paying school fees straight from the shop drawer.

Collecting business MoMo payments on a personal number.

Taking stock for the house without recording it.

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Tip. Pay yourself on a fixed day. If the business cannot afford it, that is information you need.

Do it in DatanaDatana handles this part for you.