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A Letter to My Kids – 3 Things I Hope to Teach My Kids About Debt and Finances

A letter to my children on what I see wrong in the world with finances and debt and how I hope to teach them to do better. Dear Kids, I realize now I was lucky. Grandma and Grandpa taught me a lot about finances without really realizing it. They taught me how to save and how to never spend more than you can afford. Grandpa hated any kind of debt (still does!). That rubbed off on me in a big way. Now I see and chat with a variety of people who weren’t as lucky and are learning finances the hard [...]

By | May 27th, 2019|Uncategorized|Comments Off on A Letter to My Kids – 3 Things I Hope to Teach My Kids About Debt and Finances

Not-For-Profit – Challenge #3 – Budgets and Cash Management

How to make your Not-For-Profit make more IMPACT with less administration – Budgets and Cash Management In our last two blogs, we discussed two challenges facing not for profits recruitment and compliance, and now we will tackle budgets and cash management.  We want to show you some technologies that can help you overcome the troubles around budget and cash management in your not for profit. Let's face it, people are busy. You want to ensure you are setting your management and directors up for success. Some may say, well it’s a not for profit and we can’t spend the money on software. To [...]

By | May 13th, 2019|Accounting, Not for profit|Comments Off on Not-For-Profit – Challenge #3 – Budgets and Cash Management

Not for profit – Challenge #2 – Financial and Regulatory Compliance

How to make your Not-For-Profit make more IMPACT with less administration – Financial and Regulatory Compliance In our last blog, we acknowledged how tough running a not for profit can be. We identified three main obstacles which are: Recruitment of both Staff and Directors; Financial and regulatory compliance; and Budgeting and cash management. In this article we are going to explain how current technology can help you tackle the second challenge of financial and regulatory compliance. Meeting your obligations - Financial and Regulatory compliance for your not for profit The regulations and rules of compliance can be complex for not for [...]

By | May 6th, 2019|Accounting, Not for profit|Comments Off on Not for profit – Challenge #2 – Financial and Regulatory Compliance

Not-For-Profit – Challenge #1 – How to recruit

Major Challenges Faced by All Not For Profits in Canada Running a not for profit today can be a tough go. There are a lot of amazing not for profits out there that are all making this word a much better place. But running these not for profits (including society’s and charities) can be very difficult. Many face a lot of challenges in their operations. The main challenges are generally: Recruitment of both Staff and Directors; Financial and regulatory compliance; and Budgeting and cash management. In this article we are going to explain how current technology can help you solve the [...]

By | April 29th, 2019|Accounting, Not for profit|Comments Off on Not-For-Profit – Challenge #1 – How to recruit

Quick Tips: Starting Up and Starting Strong

Start lean. Spend smart and be flexible. If you don’t spend much at the start you won’t have to make a bundle to get out of the red. This makes it much easier to start a successful business. Start with Xero Accounting Software. Okay, we are biased here as Xero experts.  But with discounts for new sign ups and reasonable monthly fees, there is no excuse for tracking your finances on a spreadsheet. Let Xero do the heavy lifting!  You can take pictures of receipts on the go and match them to your credit card transactions. You can also invoice and [...]

By | March 28th, 2019|Accounting|Comments Off on Quick Tips: Starting Up and Starting Strong

Do I charge GST / HST on my remote services?

We work with a lot of consultants and the question often comes up “Do I need to charge GST / HST on my consulting services that I perform for clients in another country (usually the USA)?” The simple answer is no! In Canada, the Canada Revenue Agency deems the place of supply for services to be the location that your client is based even if you perform the work remotely (in Canada). However, there are some exemptions and it does depend on the type of service you are providing. On the Canada Revenue Agency website, they clearly indicate that most goods and services [...]

By | March 8th, 2019|Accounting|Comments Off on Do I charge GST / HST on my remote services?

Top 3 Goals for Your Business in 2019

Happy new years! As we embark on a new year, it is a great time to reflect but also to gear up to make a difference in 2019. If you are looking to make a difference in your business in 2019. Take a look at these top recommendations to start your goals and planning on the right track. Goal 1: Automate For every task you do, you should think, how can I automate this? Yes – it will require up front WORK but the time saved will result in more time you can devote to earning $. A few of my favorites [...]

By | January 1st, 2019|Business Coaching|Comments Off on Top 3 Goals for Your Business in 2019

How to Check your Published Xero Reports – New Dashboard

Are you looking for your published reports on the new Xero dashboard? Check out this video on how to find them. If you are new to Xero and landed on this page - connect with us - Xero Accountants to get a Xero Advisor on your side.  

By | December 6th, 2018|Uncategorized|Comments Off on How to Check your Published Xero Reports – New Dashboard

Why churn rates and burn rates don’t matter unless you use what you know and how to do that

As the head of an accounting firm, I talk a lot of about KPI’s in my day-to-day dealings with clients. But I meet a lot of clients who are just really gearing up for growth and financing who tell me stories about having to google what a KPI “Key Performance Indicator” even is. So this blog is all about KPI’s. KPI’s are great but there is no reason to track them if you are not going to use them. It is like having a mountain bike that sits there taking up space. If you want to get in shape you have [...]

By | November 19th, 2018|Business Coaching, Technology|Comments Off on Why churn rates and burn rates don’t matter unless you use what you know and how to do that

Small business accounting tv – Episode 1 to 3

Hello, Did you hear that we have launched Small Business Accounting TV to be able to provide answers to your common questions? Check out our YouTube channel to get the latest episodes: Episode 1 - Intro to Small Business Accounting tv Episode 2 - What is amortization? Episode 3 - Common deductions that business owner's miss. Let us know if you have idea's for future content. You can comment here or send idea's directly to info@vhaccounting.ca. Or, do you just like what you see? Let us know, so we can keep doing it! Virtual Heights Accounting is a CPA and business [...]

By | July 31st, 2018|Small business accounting tv|Comments Off on Small business accounting tv – Episode 1 to 3