This blog includes 70+ bookkeeping and accounting articles about mastering and utilizing your financials for growth, like…
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Running the finances of your nonprofit can seem tricky, especially if you’re new or not a big fan of accounting. Just like running a small business, it’s important to keep a close eye on your money. This means making sure you’re getting the most out of every donation, grant, and fundraising effort. We’ve put together
Read moreWelcome to our guide on the essentials of understanding owner’s equity for small business owners. The concept of owner’s equity in the realm of small businesses is all about understanding what truly belongs to you, the owner, after all your business debts are settled. The state of your equity is essential to consider when you’re
Read moreBank reconciliations are one of the most important parts of your closing process to produce financial statements. We’re going to use the example of a company called GadgetFlow Inc. to walk through the steps of reconciling a bank account. This guide is also related to our articles on understanding journal entries in accounting, understanding and
Read moreYou’ve found the Rigits guide to understanding double-entry accounting. This guide is designed specifically for small business owners, aiming to demystify the principles of double-entry accounting and show how they can be applied to everyday financial management. This guide is also related to our articles on understanding journal entries in accounting, understanding owner’s equity, and
Read moreYou’ve found the Rigits guide to how to hire a virtual bookkeeper! Bookkeeping is something you typically begin doing yourself as a small business owner as you wear the multiple hats needed to get your operation off the ground. After a while, you find yourself needing to delegate so you can concentrate on what you
Read moreWelcome to the Rigits guide to understanding cash vs. accrual accounting! Choosing between cash and accrual accounting methods is more than a technical decision; it’s about finding the fit that reflects your business activities accurately and helps you plan for the future. This article is designed as a comprehensive guide to help you make an
Read moreJournal entries might not be the first thing on your mind when you’re running a small business, but if you’re going to understand your financial statements and feel confident about your finances, understanding the basics of journal entries is something you shouldn’t skip. The framework behind journal entries – double entry accounting – affects all
Read moreHere is our list of the best bookkeeping statistics. The field of bookkeeping is always evolving with new technology and trends. As a result, it is critical to stay in the loop on bookkeeping statistics. Bookkeeping statistics are facts and trends that can influence the way business leaders view their company’s finances. The purpose of
Read moreHere is our list of the top bookkeeping mistakes. Bookkeeping mistakes are common errors and blunders that are made when balancing the books and keeping track of a company’s expenses. Examples include inconsistent account reconciliation, incorrect categorization of expenses, and failure to back up financial data. The purpose of this list is to highlight common
Read moreHere is our list of reasons why bookkeeping is important. There are so many reasons why bookkeeping is important, beginning with a critical aspect of the job – maintaining accurate and up-to-date financial records for a company. Other reasons include keeping organized documentation, making informed decisions, and preparing for tax season. Understanding the importance of
Read moreHere is our list of the best bookkeeping basics. Bookkeeping basics are the keys to effective financial management, which provide a clear picture of a company’s finances. Examples include the role of a bookkeeper, different bookkeeping systems, and common mistakes to avoid. The purpose of this guide is to ensure that bookkeepers are well-equipped with
Read moreYou have found our guide of the difference between bookkeeping vs accounting. Bookkeeping and accounting have many similarities between their approach and objectives that it’s easy to wonder “what’s the difference?” Well, in fact it’s true that there’s a Venn diagram between the two roles, but there are significant differences that are important to understand.
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