--- title: The Ignite Spot Blog | BOOKKEEPING BASICS (2) description: BOOKKEEPING BASICS | Gain clarity on your financial position to increase your profitability and grow your business. Get the financial reports and expert accounting advice you need to make better business decisions. (2) --- Call us at[1-855-694-4648](tel:1-855-694-4648)             [![squareyoutube_copy](https://www.ignitespot.com/hubfs/2021_IgniteSpot/YOUTUBE.png "youtube")](https://www.youtube.com/channel/UCimfeJCvdyYVasnJCdMQhsw) [![facebook](https://www.ignitespot.com/hubfs/2021_IgniteSpot/FACEBOOK.png "facebook")](https://www.facebook.com/ignitespot/) [![IgniteSpot_logo](https://www.ignitespot.com/hs-fs/hubfs/2021_IgniteSpot/IgniteSpot_logo.png?width=187&height=72&name=IgniteSpot_logo.png "IgniteSpot_logo")](https://ignitespot.com) [![IgniteSpot Logo](https://www.ignitespot.com/hs-fs/hubfs/2021_IgniteSpot/IgniteSpot_logo.png?width=187&height=72&name=IgniteSpot_logo.png) ](https://www.ignitespot.com/) Menu ☰ # The Ignite Spot Blog Gain clarity on your financial position to increase your profitability and grow your business. Get the financial reports and expert accounting advice you need to make better business decisions. Browse by topic All Topics Bookkeeping Basics Business Taxes Featured Financial Strategies News & Updates Profitable Business Leader Subscribe to our blog [![How to Adapt Your Business's Pricing for Inflation with Accounting and Bookkeeping Tips](https://www.ignitespot.com/hs-fs/hubfs/2202_10_GR_IGNITE_blog_feature_image_How%20to%20Adapt%20Your%20Businesss%20Pricing%20for%20Inflation%20With%20Accounting%20and%20Bookkeeping%20tips-1.png?width=800&length=800&name=2202_10_GR_IGNITE_blog_feature_image_How%20to%20Adapt%20Your%20Businesss%20Pricing%20for%20Inflation%20With%20Accounting%20and%20Bookkeeping%20tips-1.png) ](https://www.ignitespot.com/blog/how-to-adapt-your-businesss-pricing-for-inflation-with-accounting-and-bookkeeping-tips) BOOKKEEPING BASICS ## [How to Adapt Your Business's Pricing for Inflation with Accounting and Bookkeeping Tips](https://www.ignitespot.com/blog/how-to-adapt-your-businesss-pricing-for-inflation-with-accounting-and-bookkeeping-tips) December 21, 2022 Turn inflation into an opportunity for strategic price adjustments. The economy is a roller coaster right now. You have to buckle up, or you’ll go... [Read More](https://www.ignitespot.com/blog/how-to-adapt-your-businesss-pricing-for-inflation-with-accounting-and-bookkeeping-tips) [![How to Measure Business Performance in 3 Steps](https://www.ignitespot.com/hs-fs/hubfs/Imported_Blog_Media/2202_08_GR_IGNITE_blog_feature_imageHow%20to%20Measure%20Business%20Performance%20in%203%20Steps_1@2x-1-2.png?width=800&length=800&name=2202_08_GR_IGNITE_blog_feature_imageHow%20to%20Measure%20Business%20Performance%20in%203%20Steps_1@2x-1-2.png) ](https://www.ignitespot.com/blog/how-to-measure-business-performance-in-3-steps) BOOKKEEPING BASICS ## [How to Measure Business Performance in 3 Steps](https://www.ignitespot.com/blog/how-to-measure-business-performance-in-3-steps) September 27, 2022 1. Regularly track financial goals and benchmarks. What details and data points will help you make decisions? Determine the right goals and track... [Read More](https://www.ignitespot.com/blog/how-to-measure-business-performance-in-3-steps) [![3 Things to Look for in a Virtual Bookkeeping Vendor](https://www.ignitespot.com/hs-fs/hubfs/Imported_Blog_Media/2022_06_GR_IGNITE_blog_feature_image_things_to_look_for_in_virtual_bookkeeping_vendor_1@2x-2.png?width=800&length=800&name=2022_06_GR_IGNITE_blog_feature_image_things_to_look_for_in_virtual_bookkeeping_vendor_1@2x-2.png) ](https://www.ignitespot.com/blog/3-things-to-look-for-in-a-virtual-bookkeeping-vendor) BOOKKEEPING BASICS ## [3 Things to Look for in a Virtual Bookkeeping Vendor](https://www.ignitespot.com/blog/3-things-to-look-for-in-a-virtual-bookkeeping-vendor) August 23, 2022 What Is Virtual Bookkeeping? Virtual bookkeeping is the process of maintaining your financial records. It's a lot like traditional bookkeeping, but... [Read More](https://www.ignitespot.com/blog/3-things-to-look-for-in-a-virtual-bookkeeping-vendor) [![3 Ways to Organize Your Company's Bookkeeping](https://www.ignitespot.com/hs-fs/hubfs/Imported_Blog_Media/2022_06_GR_IGNITE_blog_feature_image_organize_bookeeping_image-1-2.png?width=800&length=800&name=2022_06_GR_IGNITE_blog_feature_image_organize_bookeeping_image-1-2.png) ](https://www.ignitespot.com/blog/3-ways-to-organize-your-companys-bookkeeping) BOOKKEEPING BASICS ## [3 Ways to Organize Your Company's Bookkeeping](https://www.ignitespot.com/blog/3-ways-to-organize-your-companys-bookkeeping) July 26, 2022 1. Separate business and personal. Small businesses often mix business with pleasure. That means that as many as 27 percent keep it "simple" and use... [Read More](https://www.ignitespot.com/blog/3-ways-to-organize-your-companys-bookkeeping) [![Financial Futures Analysis: How Do You Calculate Break-Even Point?](https://www.ignitespot.com/hs-fs/hubfs/GettyImages-1176842719-min-1.jpg?width=800&length=800&name=GettyImages-1176842719-min-1.jpg) ](https://www.ignitespot.com/blog/how-to-calculate-the-break-even-point-for-a-business) BOOKKEEPING BASICS ## [Financial Futures Analysis: How Do You Calculate Break-Even Point?](https://www.ignitespot.com/blog/how-to-calculate-the-break-even-point-for-a-business) February 15, 2022 [Read More](https://www.ignitespot.com/blog/how-to-calculate-the-break-even-point-for-a-business) [![Bookkeeping and Accounting Terms: Relevant and Reliable Information](https://www.ignitespot.com/hs-fs/hubfs/GettyImages-1300512221-min-1.jpg?width=800&length=800&name=GettyImages-1300512221-min-1.jpg) ](https://www.ignitespot.com/blog/basic-accounting-terms-relevant-and-reliable-information) BOOKKEEPING BASICS ## [Bookkeeping and Accounting Terms: Relevant and Reliable Information](https://www.ignitespot.com/blog/basic-accounting-terms-relevant-and-reliable-information) February 10, 2022 [Read More](https://www.ignitespot.com/blog/basic-accounting-terms-relevant-and-reliable-information) [![The Business Owner’s Guide to Net Profit Margin Terminology](https://www.ignitespot.com/hs-fs/hubfs/GettyImages-475855756-min-1.jpeg?width=800&length=800&name=GettyImages-475855756-min-1.jpeg) ](https://www.ignitespot.com/blog/how-to-determine-net-profit-margin-for-a-service-based-business) business tools ## [The Business Owner’s Guide to Net Profit Margin Terminology](https://www.ignitespot.com/blog/how-to-determine-net-profit-margin-for-a-service-based-business) January 10, 2022 [Read More](https://www.ignitespot.com/blog/how-to-determine-net-profit-margin-for-a-service-based-business) [![Cheap Online Accountants & Financial Nightmares](https://www.ignitespot.com/hs-fs/hubfs/IS_7TrueStoriesCheapAccountant_SM.jpg?width=800&length=800&name=IS_7TrueStoriesCheapAccountant_SM.jpg) ](https://www.ignitespot.com/blog/cheap-online-accountants) Outsourced Accounting Services ## [Cheap Online Accountants & Financial Nightmares](https://www.ignitespot.com/blog/cheap-online-accountants) October 22, 2021 Source: Twitter Like in the Tweet above, the word good often precedes the word accountant. That’s because many business owners find out the hard way... [Read More](https://www.ignitespot.com/blog/cheap-online-accountants) [![What Does a Bookkeeper Do? Hint: More Than You’d Expect](https://www.ignitespot.com/hs-fs/hubfs/IS_WhatDoesaBookkeeperDo_SM.jpeg?width=800&length=800&name=IS_WhatDoesaBookkeeperDo_SM.jpeg) ](https://www.ignitespot.com/blog/what-does-a-bookkeeper-dohint-more-than-youd-expect) BOOKKEEPING BASICS ## [What Does a Bookkeeper Do? Hint: More Than You’d Expect](https://www.ignitespot.com/blog/what-does-a-bookkeeper-dohint-more-than-youd-expect) May 20, 2021 [Read More](https://www.ignitespot.com/blog/what-does-a-bookkeeper-dohint-more-than-youd-expect) ### Explore ### Latest Posts ### Contact Us **Phone:** [855-694-4648](tel:8556944648) **Hours:** 9 AM - 5 PM MST Monday - Friday **Location:** Ignite Spot Outsourced Accounting [2943 Parkway Blvd. PMB 49 Salt Lake City, UT 84119 United States](https://goo.gl/maps/B5MbZapPP2v74NWS7) ### Our Certifications - ![Quickbooks program advisor elite - Edited](https://www.ignitespot.com/hs-fs/hubfs/Quickbooks%20program%20advisor%20elite%20-%20Edited.webp?width=200&height=208&name=Quickbooks%20program%20advisor%20elite%20-%20Edited.webp) - ![Ignite-Spot-Gusto-Gold-Partner-1](https://www.ignitespot.com/hs-fs/hubfs/Ignite-Spot-Gusto-Gold-Partner-1.webp?width=227&height=179&name=Ignite-Spot-Gusto-Gold-Partner-1.webp) - ![FF_Top_50_Firms_Badge_Design_FA@4x_1_640](https://www.ignitespot.com/hs-fs/hubfs/FF_Top_50_Firms_Badge_Design_FA@4x_1_640.webp?width=236&height=220&name=FF_Top_50_Firms_Badge_Design_FA@4x_1_640.webp) - ![Badge---Gold-Champion-Partner](https://www.ignitespot.com/hs-fs/hubfs/Badge---Gold-Champion-Partner.webp?width=150&height=150&name=Badge---Gold-Champion-Partner.webp) - ![BILL Platinum Partner Badge - Edited](https://www.ignitespot.com/hs-fs/hubfs/BILL%20Platinum%20Partner%20Badge%20-%20Edited.webp?width=161&height=193&name=BILL%20Platinum%20Partner%20Badge%20-%20Edited.webp) - ![image (4)](https://www.ignitespot.com/hs-fs/hubfs/image%20(4).webp?width=300&height=67&name=image%20(4).webp) - ![Xero_software_logo-1](https://www.ignitespot.com/hubfs/Xero_software_logo-1.svg) - ![idjTKKEDt7](https://www.ignitespot.com/hs-fs/hubfs/idjTKKEDt7.webp?width=800&height=114&name=idjTKKEDt7.webp) - ![anchor](https://www.ignitespot.com/hs-fs/hubfs/anchor.webp?width=600&height=180&name=anchor.webp) - ![Avalara](https://www.ignitespot.com/hs-fs/hubfs/Avalara.webp?width=290&height=110&name=Avalara.webp) - ![Top 50 Badge 2024](https://www.ignitespot.com/hs-fs/hubfs/Top%2050%20Badge%202024.webp?width=200&height=218&name=Top%2050%20Badge%202024.webp) - ![Gold (1)](https://www.ignitespot.com/hs-fs/hubfs/Gold%20(1).webp?width=160&height=160&name=Gold%20(1).webp) [![IgniteSpot_logo](https://www.ignitespot.com/hs-fs/hubfs/2021_IgniteSpot/IgniteSpot_logo.png?width=187&height=72&name=IgniteSpot_logo.png "IgniteSpot_logo")](https://ignitespot.com) [![facebook](https://www.ignitespot.com/hubfs/2021_IgniteSpot/FACEBOOK.png)](http://facebook.com/ignitespot) [![twitter](https://www.ignitespot.com/hubfs/2021_IgniteSpot/TWIT.png)](http://twitter.com/ignitespot) [![youtube](https://www.ignitespot.com/hubfs/2021_IgniteSpot/YOUTUBE.png)](https://www.youtube.com/channel/UCimfeJCvdyYVasnJCdMQhsw) [![linkedin](https://www.ignitespot.com/hubfs/2021_IgniteSpot/linkedin.svg)](https://www.linkedin.com/company/ignite-spot/) © 2026 Ignite Spot, All Rights Reserved. ![](https://px.ads.linkedin.com/collect/?pid=7433034&fmt=gif)