This blog includes 70+ bookkeeping and accounting articles about mastering and utilizing your financials for growth, like…
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Liquidity, or the ability to meet short-term obligations, is the lifeblood of your small business. Just like a plant needs water to thrive, your business requires enough liquid assets to cover its immediate liabilities. Without this, even the most promising business can find itself in hot water. This guide is designed to explain the concept
Read moreYou’ve landed on our comprehensive guide to understanding the nuts and bolts of how to read a balance sheet. Understanding your balance sheet helps you see the clear picture how your hard work and decisions are shaping the financial stability and growth prospects of your business. Understanding your balance sheet is also related to understanding
Read moreRunning 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 moreCash flow is one of the most important metrics to track in your businesses. Without solid cash flow you’ll be struggling to fund payroll, pay your vendors and lenders, and continue operations. Cash flow statements are used to gauge this metric. At their core, they show your cash balance at the beginning of a period,
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 moreUnderstanding how well your business is doing financially means looking beyond just revenue and profits. Operating Income and EBITDA are two crucial metrics that show your business’s efficiency and earnings power. This guide breaks down these metrics into simple terms, helping you use this info to boost your business. We’ll explain what Operating Income and
Read moreFor any startup aiming to grow, understanding your burn rate is essential. This guide will help you grasp how to calculate and manage your burn rate, helping prevent your startup from running out of money too soon. Here’s what we’ll go through Burn Rate Basics Preparation for Calculating Burn Rate Calculating Gross Burn Rate Calculating
Read moreYou’ve found the Rigits guide to back office services! Back office services are tasks like accounting, data management, and technical support. This guide is designed to help you, the small business owner, navigate through the various aspects of back office operations, understand their importance, and make informed decisions about managing them efficiently. This guide also
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 found the Rigits guide on how to do cash flow forecasting! Cash flow forecasting is about predicting your cash inflows and outflows over a certain period, enabling you to plan for future growth, manage debt, and ensure you can cover your expenses. This guide is designed specifically for small business owners, breaking down the
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
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