Business and finance · Beginner

Small Business Bookkeeping & Budgeting

Learn practical record keeping, income and expense tracking, invoices, reconciliation, budgeting and basic financial reports.

minutes · Self-paced

Course overview

Build straightforward financial habits for freelancers, traders and small business owners. Learn why records matter, how to track money coming in and going out, organise receipts and invoices, and compare expected figures with actual results. Distinguish sales, costs, profit and cash flow, build a simple budget and practise a basic reconciliation process. This course is educational and does not replace advice from a qualified accountant or tax professional.

What you will learn

  • Set up a simple transaction record system
  • Categorise income, direct costs and operating expenses
  • Create invoices and organise receipts
  • Maintain a basic cashbook or ledger
  • Compare records with bank or mobile money statements
  • Prepare a budget and cash-flow forecast
  • Understand revenue, costs, profit and cash flow
  • Create a basic monthly summary

Skills covered

  • Bookkeeping basics
  • Transaction records
  • Invoices and receipts
  • Expense categories
  • Reconciliation
  • Budgeting
  • Cash flow
  • Financial summaries

Prerequisites

No bookkeeping background is required. Basic arithmetic and a notebook or spreadsheet are helpful.

Course modules

Understand business records and why they matter

In this module: A business record shows what happened, when it happened, how much money was involved and what evidence supports it. Separate business and personal transactions where possible and keep records consistently.

min

Separate income, costs and expenses

In this module: Revenue is money earned from sales or services. Direct costs relate to producing or delivering what is sold, while operating expenses support the business more generally.

min

Prepare invoices and organise receipts

In this module: An invoice identifies the seller, date, items or services, quantities, prices and payment terms. Receipts confirm money was received. Use clear references and retain supporting evidence.

min

Maintain a simple cashbook or ledger

In this module: A cashbook records money received and money paid. Each entry should have a date, description, category and amount. A running balance shows how much cash should remain.

min

Compare records with bank and mobile money statements

In this module: Reconciliation compares your records with an independent statement. Differences may come from timing, fees, missing entries or duplicates. Investigate each difference before making a correction.

min

Build a simple budget and cash-flow forecast

In this module: A budget estimates income and costs for a period. A cash-flow forecast considers when money is expected to arrive and when bills must be paid. A profitable business can still struggle if cash arrives too late.

min

Understand profit, pricing and performance

In this module: Revenue is not the same as profit. Subtracting relevant costs from revenue gives a simple view of what remains before other obligations. Pricing should consider direct costs, overheads, customer value and the market.

min

Prepare a monthly summary and review controls

In this module: A monthly summary should explain income, costs, expenses, cash movements and differences from budget. Keep supporting records, review unusual transactions and limit access to sensitive financial information.

min