Rigits Blog Articles

This blog includes 70+ bookkeeping and accounting articles about mastering and utilizing your financials for growth, like…

  • Guides on financial terms, statements and concepts
  • Accounting & bookkeeping software, books, and tools
  • How to find local bookkeepers, accountants and fractional CFOs

Start browsing, learning, and implementing these insights to grow your business.

Cash vs. Accrual Accounting

Welcome 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

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Understanding Journal Entries in Accounting

Journal 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

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Understanding and Calculating EBITDA

EBITDA is more than a piece of financial jargon; it’s a key to unlocking insights into your business’s operational performance. By grasping how EBITDA works, you can make more informed decisions, attract potential investors, and steer your business toward greater profitability. This guide is crafted to demystify EBITDA for you, the small business owner. We’ll

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Understanding Gross vs. Net Profit

You’ve found our guide understanding net vs. gross profit. When it comes to running a business, understanding the key difference between gross and net profit is crucial to small business owners. Gross profit and net profit are two key metrics that service as guideposts for you to gauge how healthy your business is. These principles

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13 Reasons Why Accounting is Important

Here is our list of reasons why accounting is important.  Have you ever wondered why accounting is important? There are plenty of reasons that explain the importance of accounting, beginning with maintaining accurate financial records and tracking and managing transactions. Other reasons include aiding in decision-making, communicating key business results, and providing valuable insights. Understanding

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15 Accounting Statistics and Trends to Know

Here is our list of the best accounting statistics.  The finance and business landscape is continuously evolving, which is why it is important to stay informed about the latest accounting statistics. Accounting statistics are data points and trends that shape the accounting industry for all businesses, large and small. The purpose of this list is

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14 Bookkeeping Statistics You Need to Know

Here 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

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12 Common Bookkeeping Mistakes to Avoid

Here 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

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14 Common Accounting Errors and How to Avoid Them

Here is our list of the top accounting errors.  Accounting errors are common mistakes that accountants or business leaders could make when working with a company’s finances. Examples include data entry errors, misclassifying expenses, and reconciliation errors. The purpose of this list is to highlight common errors in accounting and provide valuable tips on how

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13 Reasons Why Bookkeeping is Important

Here 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

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Bookkeeping 101: A Guide to Bookkeeping Basics

Here 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

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Bookkeeping vs. Accounting

You 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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