Outsourced Finance Department Services Case Studies
6 worked Outsourced Finance Department Services case studies — the position a client typically comes to us with, what we do, and what it is worth. Each is an illustrative example built on the rules that apply to outsourced finance department services work, not a specific client's file.
Client: A professional practice that closes its books quarterly · Where: Windsor, Ontario · Engagement: 9 weeks, fixed fee
Overpayment refunded$123,000
Late remittances sinceZero
ScheduleAutomated
The situation — A professional practice that closes its books quarterly, Windsor, Ontario
Remittances at a professional practice that closes its books quarterly in Windsor, Ontario were consistently late by a few days. That was enough to trigger penalties every quarter. Behind it sat year-end statements that arrived four months late and never tied to the bank.
What we did for A professional practice that closes its books quarterly, Windsor, Ontario
We rebuilt the trial balance from source documents, reconciled every bank and credit-card account, and issued a CSRS 4200 compilation with a proper basis-of-accounting note. Then we moved the remittance dates into a scheduled process rather than a monthly decision.
The result — A professional practice that closes its books quarterly, Windsor, Ontario
Penalties stopped from the following remittance onwards, and $123,000 of overpaid instalments was refunded.
Case Study 2 · Objection and relief
Desk-Review Assessment Of $93,000 Vacated — Specialty Food Importer, Kelowna
Client: A specialty food importer · Where: Kelowna, British Columbia · Engagement: 4 weeks, fixed fee
Assessment vacated$93,000
Supporting recordsNow on file
AccountCleared
The situation — A specialty food importer, Kelowna, British Columbia
A specialty food importer in Kelowna, British Columbia was carrying $93,000 of penalties and interest. The charges arose from inter-company balances between two related corporations that had never been reconciled. Much of that amount accumulated during a period the CRA itself had delayed.
What we did for A specialty food importer, Kelowna, British Columbia
We reconciled the general ledger to the GIFI schedules filed for each open year and corrected the two years where they disagreed. We framed the relief application on the specific grounds the CRA guidelines recognise rather than on general hardship.
The result — A specialty food importer, Kelowna, British Columbia
The assessment was vacated. $93,000 came off the account, and the documentation now on file makes the same position straightforward to defend next time.
Case Study 3 · Sale and succession
Share Sale Restructured, $360,000 Less Tax On Closing — Off-Calendar Year-End Supplier, Toronto
Client: A supplier with an off-calendar fiscal year-end · Where: Toronto, Ontario · Engagement: 7 weeks, fixed fee
Tax saved on closing$360,000
PriceAs agreed
Post-closing adjustmentsNone
The situation — A supplier with an off-calendar fiscal year-end, Toronto, Ontario
A supplier with an off-calendar fiscal year-end in Toronto, Ontario was preparing to sell. Due diligence surfaced retained cash well above what the business needed to operate. That would have reduced the price or killed the deal outright.
What we did for A supplier with an off-calendar fiscal year-end, Toronto, Ontario
We cleaned up the historical file. We built a fixed-asset continuity schedule from the purchase invoices. We set the capital cost allowance claim class by class rather than claiming the maximum by default. Then we prepared the due-diligence package the buyer's advisers actually asked for.
The result — A supplier with an off-calendar fiscal year-end, Toronto, Ontario
The deal closed at the agreed price. $360,000 of tax was saved against the structure originally proposed, with no post-closing adjustment.
Case Study 4 · Scaling without breaking
Growth Handled Without A Missed Filing, $18,500 Freed — Regional Courier Operator, Mississauga
The situation — A regional courier operator, Mississauga, Ontario
A regional courier operator in Mississauga, Ontario was opening in a second province. That meant different filing obligations and a different payroll regime. Capital assets written off in full in the year of purchase, with no fixed-asset schedule behind the deduction already sat in the file.
What we did for A regional courier operator, Mississauga, Ontario
We set a monthly close calendar with a fixed cut-off, so the year-end became a review of work already done rather than a twelve-month rebuild. We then put monthly reporting in place. That let the owner see the cash effect of growth while there was still time to act on it.
The result — A regional courier operator, Mississauga, Ontario
Growth was absorbed without a compliance failure. $18,500 of cash was released, and the monthly reporting now flags a problem while it is still small.
Case Study 5 · Records and systems rebuilt
26 Months Reconciled And $16,500 Of Input Tax Recovered — Design Agency, Winnipeg
The situation — A 14-person design agency, Winnipeg, Manitoba
Nothing reconciled at a 14-person design agency in Winnipeg, Manitoba. Every filing started with 26 months of cleanup. The file was carrying two sets of numbers — one in the accounting file, one the owner actually ran the business on.
What we did for A 14-person design agency, Winnipeg, Manitoba
We rebuilt from source rather than correcting on top of the existing file. We separated personal and corporate spending, cleared the shareholder loan through a documented salary and dividend mix, and restated the comparative year. Then we set the routine that keeps it clean.
The result — A 14-person design agency, Winnipeg, Manitoba
26 months reconciled to the bank. The close now takes 6 days, and $16,500 of previously unclaimable input tax was recovered in the process.
Case Study 6 · Structure rebuilt
Reorganisation Completed Tax-Deferred, $66,000 Saved Each Year — Fitness Studio Group, Halifax
Client: A boutique fitness studio group · Where: Halifax, Nova Scotia · Engagement: 4 weeks, fixed fee
Annual saving$66,000
Tax on reorganisationDeferred
Elections filedOn time
The situation — A boutique fitness studio group, Halifax, Nova Scotia
A boutique fitness studio group in Halifax, Nova Scotia had outgrown the structure it started with. Work in progress carried at billing value one year and at cost the next, so neither year was comparable was the immediate problem. The longer-term one was that the structure blocked the next step.
What we did for A boutique fitness studio group, Halifax, Nova Scotia
We mapped the current structure and modelled the target. Then we moved accruals, prepaids and depreciation into a documented month-end checklist, so they stopped being year-end discoveries. The tax-deferred elections were filed on time and the supporting valuations documented.
The result — A boutique fitness studio group, Halifax, Nova Scotia
The reorganisation completed without triggering tax, and the new structure saves approximately $66,000 a year while removing the exposure the old one carried.
Reviewed by Udit Gupta, Founder and Tax Accountant for the 2025 tax year. These case studies are illustrative worked examples composed from the CRA rules that apply to this type of work, not specific client files; figures are representative and outcomes depend on your own facts.
