Preheat the oven to 350°F. Grease an 8”x8” pan with baking spray and line with parchment paper, leaving a bit of an overhang to easily remove the bars once they’re baked and cooled.
In a bowl of an electric mixer fitted with the paddle attachment (or using a hand mixer) beat the butter, granulated sugar, brown sugar and vanilla extract on medium speed until smooth and creamy, about 2-3 minutes. Scrape down the sides of the bowl.
In a bowl of an electric mixer fitted with the paddle attachment (or using a hand mixer), beat the softened butter, confectioners sugar, heavy cream and vanilla extract, beginning on low speed and gradually increasing to medium-high speed, beating for 5 minutes until light and fluffy. Pause the mixer and scrape down the sides of the bowl a few times during the mixing process.
If you have extra time, set the iced bars in the fridge for 30 minutes to make slicing easier and cleaner.