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Five Reasons Your Start-Up Needs a Part-time Virtual CFO

I work with a variety of clients, who may have great bookkeepers, but their operations grow beyond that of basic bookkeeping. If you have a fast-growing business or have large aspirations, there are five main reasons you should consider having a part-time CFO. Keep fixed costs low - cash flow is always an issue for every start-up or small business. Hiring a part-time CFO allows you to keep your costs low and scale your services as you scale your business. Not only will you save on the salary (including source deductions and benefits) of a full time CFO but you also save [...]

By | July 19th, 2018|Accounting, Business Coaching|Comments Off on Five Reasons Your Start-Up Needs a Part-time Virtual CFO

When do non-resident businesses have to file tax returns in Canada?

We get a lot of calls from non-resident businesses that sell in Canada and are wondering what their tax considerations are. If you sell products / services in Canada and are over certain thresholds you will be required to charge sales tax (GST/HST which is the federal tax and there are also provincial sales taxes in certain provinces).  If you are looking for more information on sales tax and the thresholds check out this previous post: Canada Sales Tax Sheet. The next question is what about tax on the income? The question is actually harder to answer than you may imagine. [...]

By | May 14th, 2018|Accounting|Comments Off on When do non-resident businesses have to file tax returns in Canada?

How to set up your FBA Amazon Tax Settings for Canada – Video

Happy Pink Shirt Day! You will see I am sporting a pink shirt and my fav CPA toque! We have to keep warm here in Canada. https://youtu.be/tYWAmlboIUs Virtual Heights Accounting is a CPA and Business Coaching firm located in Rossland, BC. We are a virtual firm focused on using cloud based technologies to reduce the administrative burden of business owners. Focusing on bookkeeping, accounting, business coaching and development with a tech focus. www.vhaccounting.ca.  This blog is intended for general use and understanding on sales tax set up in Amazon. Direct professional advice is always recommended to ensure you are getting [...]

By | February 28th, 2018|Accounting|Comments Off on How to set up your FBA Amazon Tax Settings for Canada – Video

The Hype Around Blockchain

An Explanation for the Observer Anything blockchain and cryptocurrency is getting lots of hype right now. Investors seem to be pouring in money worried they will miss the big payout. Warnings of a bubble are everywhere. As an techy Accountant, I like to stay on top of these things. This made me realize that maybe I should explain what I have learned about it in a blog. I am far from an expert on blockchain, but do keep up with some of the more well-known podcasts and articles on the subject. Thus have learned a lot in a short time. So [...]

By | February 7th, 2018|Technology|Comments Off on The Hype Around Blockchain

Sales Tax Cheat Sheet for the Online Seller

Want a copy - download it here:  CANADA SALES TAX FACT SHEET

By | January 31st, 2018|Business|Comments Off on Sales Tax Cheat Sheet for the Online Seller

Cloud Accounting Presentation – PowerPoint Slides for CPA Event

At some point, I will try to put out a webinar on this topic. Until then, as requested, here are the pdf slides for the PowerPoint Presentation on cloud accounting. This was from a live presentation to local CPA's and is intended for general information. Any questions or comments let me know.   Please click the link below to download. Cloud Accounting Presentation CPA   Virtual Heights Accounting is a CPA firm that operates in the virtual world. We provide virtual accounting, Virtual CFO and Virtual Controller services for your growing Company. Contact us directly to chat or follow our blog [...]

By | January 26th, 2018|Accounting|Comments Off on Cloud Accounting Presentation – PowerPoint Slides for CPA Event

Xero for the Amazon Seller – FBA Accounting in Canada

Are you an Amazon seller looking to streamline your accounting for your Canadian corporation? There are a lot of great cloud accounting software to choose from. As a Canadian cloud accountant based in BC, I have seen Xero work great for a variety of online retail companies.  It is a great choice for the Amazon FBA (Fulfillment by Amazon) Seller. Why Xero for Amazon Sellers? Xero integrates with A2X – A2X provides simple automated Amazon accounting by importing your Amazon transactions directly into Xero for easy reconciliation. Xero has multi-currency to satisfy your reporting requirements in Canada if you have both [...]

By | January 17th, 2018|Uncategorized|Comments Off on Xero for the Amazon Seller – FBA Accounting in Canada

What is ERP?

When explaining the benefits of cloud accounting, I often tell people that with cloud accounting you can build your own ERP system as you grow. So the obvious next questions is what is ERP? ERP stands for Enterprise Resource Planning and is the systems in place that facilitate the processes that make your business work as you grow and scale. When I implement an ERP system for a client, I start with the accounting software. Then I incorporate other systems and processes based on the needs of the business. For example, maybe you require a project management software for your business [...]

By | October 25th, 2017|Uncategorized|Comments Off on What is ERP?

How to 10X your Growth in 3 Steps

The world is in an exiting time where the ability to 10X your company is at anyone's reach. I have been speaking lately with numerous entrepreneurs who have 10X'd their companies then sold them (sometimes they have sold multiple companies). I was very interested in the 10X or die mentality and wanted to share some of the key takeaways from these conversations. In the tech game, this has come to be a common terminology. The concept is that either you out-innovate and grow quickly or get squashed when someone else does. This originally tech based mentality is spilling out into a [...]

By | October 18th, 2017|Business|Comments Off on How to 10X your Growth in 3 Steps

Do I have to Charge Hotel Tax in BC on my AirBnB?

UPDATE*** -  The 2018 BC Budget announced changes for accomodation providers including eliminating exemption for those with less than four units. Check out the updates here: https://www2.gov.bc.ca/assets/gov/taxes/sales-taxes/publications/notice-2018-004-pst-mrdt-accommodaton-providers.pdf   With the changes we have deleted this article for the moment. Check out the publication from the Ministry for more information or give us a call. Virtual Heights Accounting is a CPA and Business Coaching firm located in Rossland, BC. We are a virtual firm focused on using cloud based technologies to reduce the administrative burden of business owners. Focusing on bookkeeping, accounting, business coaching and development with a tech focus. www.vhaccounting.ca. The [...]

By | September 20th, 2017|Uncategorized|Comments Off on Do I have to Charge Hotel Tax in BC on my AirBnB?