6 Multi-Currency Bookkeeping tax and accounting engagements in full — what the client came to us with, what we did, and what it was worth. Each one is specific to multi-currency bookkeeping work, not a general example.
Case Study 1 · CRA review defended
$69,000 Reassessment Reduced To Nil On Review — Two-Location Cafe, Barrie
A review notice arrived at a two-location cafe in Barrie, Ontario covering multi-currency bookkeeping for two tax years. The auditor's working position was an adjustment of $69,000, driven by input tax credits claimed on receipts that had already been claimed once.
What we did
Rather than negotiate, we rebuilt the record. We separated the owner’s personal spending out of the corporate accounts and cleared the resulting shareholder loan properly and submitted a point-by-point response that answered each proposed adjustment with the document behind it.
The result
The auditor accepted the documented position and closed the review without adjustment, protecting $69,000 and leaving the prior filings undisturbed.
Case Study 2 · Cash and remittance control
$150,000 Of Working Capital Freed From The Tax Cycle — Equipment Rental Yard, Saskatoon
An equipment rental yard in Saskatoon, Saskatchewan was profitable on paper and short of cash every month. A receivables list that included invoices collected eleven months earlier explained most of the gap.
What we did
We set up a documented chart of accounts, a receipt-capture workflow and a monthly reconciliation that closes within ten days of month-end and built a thirteen-week cash view so tax payments stopped competing with payroll for the same dollars.
The result
$150,000 was released back into working capital. Remittances have been on time every period since, and the forecast shows the tax outflow before it lands.
Case Study 3 · Objection and relief
Desk-Review Assessment Of $44,000 Vacated — Subscription Box Retailer, Toronto
A subscription box retailer in Toronto, Ontario was carrying $44,000 of penalties and interest arising from a bookkeeping file where owner draws, payroll and supplier payments all landed in the same account, much of it accumulated during a period the CRA itself had delayed.
What we did
We rebuilt the ledger from bank and card statements, matched every receipt to a transaction, and removed duplicated input tax credits before they became a review and framed the relief application on the specific grounds the CRA guidelines recognise rather than on general hardship.
The result
The assessment was vacated. $44,000 came off the account, and the documentation now on file makes the same position straightforward to defend next time.
Case Study 4 · Sale and succession
Intergenerational Transfer Completed With $605,000 Deferred — Specialty Coffee Roaster, Regina
A generational transfer at a specialty coffee roaster in Regina, Saskatchewan had been discussed for years without a plan. A shareholder loan balance that would have been picked up as income on closing meant the transfer as contemplated would have been fully taxable.
What we did
We reconciled receivables and payables to source documents and wrote off the balances that were genuinely uncollectible, with support, sequencing the steps so each one was complete and documented before the next depended on it.
The result
$605,000 of tax was deferred through the transfer, and the successor generation took over a corporation whose records stood up to review.
Case Study 5 · Scaling without breaking
Growth Handled Without A Missed Filing, $92,000 Freed — Small Law Practice, Edmonton
Client: A small law practice · Where: Edmonton, Alberta · Engagement: 7 weeks, fixed fee
Cash freed$92,000
Compliance failuresNone
ReportingMonthly
The situation
A small law practice in Edmonton, Alberta was opening in a second province — different filing obligations, a different payroll regime, and three years of returns filed off numbers nobody could trace back to a bank statement already in the file.
What we did
We separated the owner’s personal spending out of the corporate accounts and cleared the resulting shareholder loan properly and put monthly reporting in place so the owner could see the cash effect of growth while there was still time to act on it.
The result
Growth was absorbed without a compliance failure. $92,000 of cash was released, and the monthly reporting now flags a problem while it is still small.
Case Study 6 · Records and systems rebuilt
29 Months Reconciled And $14,000 Of Input Tax Recovered — Owner-Operated Trades Business, Windsor
Client: An owner-operated trades business · Where: Windsor, Ontario · Engagement: 5 weeks, fixed fee
Months reconciled29
Input tax recovered$14,000
Close time9 days
The situation
An owner-operated trades business in Windsor, Ontario was carrying input tax credits claimed on receipts that had already been claimed once. Nothing reconciled, and every filing started with 29 months of cleanup.
What we did
We rebuilt from source rather than correcting on top of the existing file. We set up a documented chart of accounts, a receipt-capture workflow and a monthly reconciliation that closes within ten days of month-end, then set the routine that keeps it clean.
The result
29 months reconciled to the bank. The close now takes 9 days, and $14,000 of previously unclaimable input tax was recovered in the process.
Reviewed for the 2025 tax year by Udit Gupta, Certified Tax Accountant. Figures describe representative engagements of this type; outcomes depend on your own facts. Client names and identifying details are omitted for confidentiality.
