Preheat oven to 350 degrees and line a 9x9 baking pan with parchment paper (or grease well). Set aside.
With a hand mixer or standing mixer, cream the butter until light and fluffy, about 1 minute.
Add in the granulated sugar. Cream the mixture until light and fluffy, about 1 minute.
Add in the vanilla extract and the almond extract, and mix until combined.
Lastly, add in the all purpose flour and mix until combined.
Press about 1/2 - 2/3 of the shortbread dough into the bottom of the pan, pressing the dough into an even layer.
Spread the strawberry jam (or strawberry preserves) on top of the dough, in an even layer. (Use 3/4 cup if you want less jam filling; use 1 cup for more jam filling. Whatever your preference.)
Sprinkle the remaining shortbread dough on top of the jam (don’t press the crumbs into the jam).
Bake for 35-38 minutes, or until the jam is bubbling and the shortbread is just lightly golden brown.
Allow to cool before cutting and serving. I suggest letting it cool to room temperature, then letting it sit in the fridge before serving (these taste fantastic cold!). However, you can serve them room temperature as well.
Top with powdered sugar, if desired.