About Michelle Cornish

Michelle Cornish is an author and former CPA from Enderby, BC.

GST: Exempt vs Taxable Supplies

By | October 10th, 2021|Business, Taxes|

When you’re first setting up your business, one of the things you might ask is if you need to charge GST. Chances are you don’t have time to sift through the Canada Revenue Agency’s massive guide for GST registrants to find the answer. You’re in luck, because this month on the blog, we’re answering some of the most common GST questions we get.  When it comes to determining if you need to charge GST, you need to decide if you’re providing a taxable supply. Supply is the language used in the Income Tax Act to refer to what you’re selling. This [...]

Have You Thought About Selling Your Business?

By | September 29th, 2021|Accounting, Business, Taxes|

Now that you’ve completed a checkup on your business, if you’re close to retirement age or just looking for a change, you may want to consider selling your business. Depending on your business, selling could earn you a nice lump sum of cash.  Among the top reasons business owners don’t sell are that they didn’t know they could or it seemed too confusing. It may be confusing, and sometimes it can be a lot of work to sell your business, but depending on your goals, it can also be worth it. Read on to learn more about selling your business.  Before [...]

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A Back to School Business Checkup

By | September 15th, 2021|Accounting, Business, Xero|

Whether you’ve been in business for a while or you’re just starting out, a business checkup is a great way to stop and see where you’re at in relation to your business goals. September will always feel like back to school here at Virtual Heights Accounting. But that’s a good thing. It means it’s time to pause, take stock, and recalibrate if necessary.  A business check up can look like a number of different things. You will likely have a sense of where you have gone off track. Maybe you need to finally file that paperwork you’ve had sitting on your [...]

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Business Technology Essentials

By | August 31st, 2021|Business, Technology|

If you’re new to running a business or maybe you feel like you need to up your game, you may want to take a look at your business technology. There are a number of technology items you can’t live without in today’s business world. Over the last couple of months, we have shared some of our favourite business tech. Today, we’ll share what you simply can’t live without. Business Technology for Marketing Even if your store is physical only and you don’t plan to sell anything online, a presence on the web is important. Many people go online to learn more [...]

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The Safe Way to Collect Electronic Signatures

By | August 26th, 2021|Business, Technology|

Electronic signatures are on the rise now that more and more people work from home. If you require signatures in your business, you may have been wondering if you can legally collect them electronically. And if you can, what is the best way to do this? As an accounting firm dealing with personal information every day, we’ve got the low down on electronic signatures. Read on to learn about electronic signature collection in Canada as well as our recommended programs for capturing signatures. Are electronic signatures legal in Canada? The short answer is yes! E-signatures, including those that require the signer [...]

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Grow Your Business with Shopify

By | August 20th, 2021|Business, Technology|

At its simplest level, Shopify is a platform that allows you to sell your products online and in person. But this platform can help you with so much more than that. We thought we’d share more about all the things you can do with this robust platform. In this article, the folks at Shopify say that when you partner with Shopify, you get the core functions of running a business. More specifically, you get a storefront, a payment processor, a shipping partner, a back office, and a marketing platform.  Read on to learn how one platform can offer all this. Shopify [...]

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Wagepoint: The Friendliest Payroll App

By | August 9th, 2021|Accounting, Payroll, Technology|

Wagepoint is a payroll app that lets you pay employees and contractors. There’s no need to mess around with spreadsheets or use manual calculations. In fact, when you do these things, you run the risk of preparing inaccurate payroll records. Inaccurate payroll records can result in audits for you as the business owner and tax return adjustments for your employees. No Complicated Calculations When you use an app like Wagepoint, the app does the heavy lifting for you. You enter your employees’ personal information, including their wage or salary, and personal tax credits. With Wagepoint, you can pay employees directly through [...]

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How to Process Customer Payments in the Digital Age

By | July 30th, 2021|Business, Technology|

With so many apps and programs available to run your business online and in-person, how do you choose the best way to process customer payments? Without question, you’ll want to choose the app that meets your needs the best.  At Virtual Heights Accounting we have experience with three of the most common payment processing options. Read on to learn more about these options and why we like them. Payment Processing Options For the most part, gone are the days where clients pay you by mailing a cheque. This is a good thing. Speeding up payments means more money to you in [...]

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Does the Canada Revenue Agency Accept Digital Documents?

By | July 24th, 2021|Business, Technology|

Have you ever wondered if the Canada Revenue Agency (CRA) will accept your digital documents in the event you are audited? Given all the business that’s conducted online these days, it’s not surprising the CRA has a policy on electronic record keeping. It’s a fairly lengthy and thorough document, so we’ve included the main points below. If your office is paperless or you are thinking about going paperless, you’ll want to read on! Acceptable Digital Documents The short answer to the question posed as the title of this post is, yes! The CRA does accept digital documents. But you’ll want to [...]

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Organize Your Business Paperwork with Hubdoc

By | July 18th, 2021|Business, Technology, Xero|

How often have you said something along the lines of, “If only I was more organized,” when talking about your business paperwork? Most likely this comes as a result of looking for a document for your accountant or trying to find a bill you need to pay before the deadline. When your business paperwork is organized, you don’t have to waste your precious time hunting for documents. Not only that, but if you use Xero and Hubdoc together, your accountant can access your documents without having to bother you. Why Hubdoc for business paperwork? Hubdoc is an app that can help [...]

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