1. The word 'not' is used to change a VERB into the negative form. For example
He is a student / He is not a student.
He has been to London / He has not been to London
He could read the book / He could not read the book.
'Not' also combines with auxiliary verbs to make verb forms negative. For example:
does not --> doesn't
was not --> wasn't
2. As well as being a negative response (the opposite of 'yes'), the word 'no' is used to change a NOUN into the negative form. For example.
Some people/no people
Some time/ no time.
Some books/ no books
In some cases in English, we have a choice of making either the verb or the noun negative. For example, you can translate 'No tengo dinero' in two ways.
You can say either
[ I do not have ] any money = Negative verb + positive object
or
[ I have ] no money = Positive verb + negative object
The important thing to remember about the sentence 'I have no money', is that the word 'no' is negating the object (money). It is is not negating the verb (have). When we make a verb negative, we must always use 'not'.
I hope that's clear.