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About Alissa Bryden

CPA, CA, CEO of Virtual CPA Firm
Thanks for reading! To connect you can email me alissa@vhaccounting.ca or follow me on LinkedIn.
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How will inflation affect my business

By |2022-05-19T19:49:07+00:00May 19th, 2022|Uncategorized|

Inflation is a big topic right now. How will inflation affect my business? Well, let's start with a basic explanation. What is inflation? Inflation is the decrease in purchasing power of money. It means that if inflation is high then $1.00 today will buy you less next week. We see this in the rising fuel prices, grocery bills, and other expenses at home and in our businesses as well. You may have already seen supplies for your business increasing. Inflation also tends to push up wages as you may end up having to pay your staff more to keep them. This [...]

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TD1 forms: How to fill out

By |2022-05-16T15:17:31+00:00December 21st, 2021|Uncategorized|

Have you been asked to fill out a federal or provincial TD1 form? This video shows you how to complete it. In this example, we use the BC form. You will complete the provincial form that your employer is a resident. That means if you are a remote employee that works from BC but you work for an Ontario company then you will have to complete an Ontario TD1 form. Also, remember to provide your employer with the email address that you would like to receive notification of e-pay stubs to (if they offer that) and also a void cheque. Side [...]

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Why have I been asked to fill out a W-8 BEN-E form?

By |2021-10-24T09:53:15+00:00November 29th, 2019|Uncategorized|

If you are Canadian Company providing services to US Companies that has been asked to fill out a W-8 BEN-E form you may be wondering why. You may also be wondering how to complete it. This article walks an active business and Canadian corporation in Canada offering consulting services to a US company on completing this form. This is only relevant to non-financial entities such as a management consultant. What is it? The W-8 BEN-E form is provided by the IRS (the US Federal Tax Agency similar to the Canada Revenue Agency). It is used by foreign entities to document their [...]

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Getting your Personal Finances in order with Xero

By |2021-10-24T09:53:15+00:00November 12th, 2019|Uncategorized|

Have you ever thought of using Xero to manage your personal finances? Well you are not alone. I have a few clients who have loved Xero so much that they have decided to us it to manage their personal finances as a personal finance app. If you have decided to do this, I have a few recommendations on how to optimize what you are getting from it. Talk to your accountant about a reduced price plan. Xero partners have access to accounts not available to the public which have reduced functionality but may fit your needs. The basic Xero account is [...]

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Going Paperless through Cloud Accounting 

By |2021-10-24T09:53:15+00:00November 5th, 2019|Uncategorized|

Go paperless in your small business. Set it up the right way using cloud accounting software you will come to love.   Step 1) Get off the desktop solution and sign up to a cloud accounting software like Xero and Quickbooks Key advantages: Access invoicing on the go and connect your bank accounts for an automated download of your transactions. You can also easily add a pay button to your invoices. This will get you paid faster and save you time while also getting better clarity on your business. Step 2) Stop using cheque’s - Look for other payment methods like credit [...]

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The new CIBC Smart Banking Platform and the new Xero bank feed connection (as well as other benefits)

By |2021-10-24T09:53:15+00:00October 28th, 2019|Uncategorized, Xero|

We in the Xero community have been waiting years for a direct bank feed. Many other countries around the world already had this and we were jealous. For the average business owner and user of Xero, there are a few key things they may like to be aware of. These include: multi-user options; domestic EFTs; and Xero direct bank feed. There are many other services offered in the platform but we have focused on these as the most beneficial. Multi-User Well the new platform offers some benefits (other than the bank feed), including multi-users which allows for permissions and better process. The [...]

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

By |2021-10-24T09:53:15+00:00May 27th, 2019|Uncategorized|

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 [...]

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

By |2021-10-24T09:53:15+00:00May 13th, 2019|Accounting, Not for profit|

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 [...]

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

By |2021-10-24T09:53:15+00:00May 6th, 2019|Accounting, Not for profit|

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 [...]

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

By |2021-10-24T09:53:15+00:00April 29th, 2019|Accounting, Not for profit|

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 [...]

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