6 worked Wave Accounting Support 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 wave accounting support work, not a specific client's file.
Case Study 1 · Sale and succession
Share Sale Restructured, $195,000 Less Tax On Closing — Multi-Processor Online Seller, London
Client: An online seller reconciling three payment processors · Where: London, Ontario · Engagement: 3 weeks, fixed fee
Tax saved on closing$195,000
PriceAs agreed
Post-closing adjustmentsNone
The situation — An online seller reconciling three payment processors, London, Ontario
An online seller reconciling three payment processors in London, Ontario was preparing to sell. Due diligence surfaced a single shareholder holding every share, with no room to multiply the exemption. That would have reduced the price or killed the deal outright.
What we did for An online seller reconciling three payment processors, London, Ontario
We cleaned up the historical 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 we prepared the due-diligence package the buyer's advisers actually asked for.
The result — An online seller reconciling three payment processors, London, Ontario
The deal closed at the agreed price. $195,000 of tax was saved against the structure originally proposed, with no post-closing adjustment.
Case Study 2 · Deadline rescue
Filed On Time From A Standing Start, $69,000 Penalty Avoided — Mobile Pet-Grooming Company, Hamilton
Client: A mobile pet-grooming company · Where: Hamilton, Ontario · Engagement: 7 weeks, fixed fee
Penalty avoided$69,000
Turnaround7 weeks
FiledOn time
The situation — A mobile pet-grooming company, Hamilton, Ontario
A mobile pet-grooming company in Hamilton, Ontario came to us 7 weeks before its filing deadline. The file came with meals and entertainment coded at full cost with the input tax credit claimed on the whole amount. A late filing would have triggered a penalty of roughly $69,000 before interest.
What we did for A mobile pet-grooming company, Hamilton, Ontario
We worked backwards from the deadline. We rebuilt the ledger from bank and card statements and matched every receipt to a transaction. We removed duplicated input tax credits before they became a review. We prioritised the items that actually gated the filing and deferred everything that did not.
The result — A mobile pet-grooming company, Hamilton, Ontario
The return was filed on time and complete. The $69,000 penalty never arose, and the compliance calendar we set means the next deadline is scheduled rather than discovered.
Case Study 3 · Scaling without breaking
Second-Province Expansion Handled, $110,000 Of Cash Released — Wedding Photography Studio, Mississauga
Client: A wedding photography studio · Where: Mississauga, Ontario · Engagement: 3 weeks, fixed fee
Cash released$110,000
New registrationsComplete on day one
Compliance gapsNone
The situation — A wedding photography studio, Mississauga, Ontario
Revenue at a wedding photography studio in Mississauga, Ontario was up sharply and cash was tighter than ever. Underneath it sat three years of returns filed off numbers nobody could trace back to a bank statement.
What we did for A wedding photography studio, Mississauga, Ontario
We cleared the payroll and sales tax clearing accounts every month and tied each remittance to the liability it settled. Every new obligation was set up before it was triggered, not after. That covered registration, remittance frequency and provincial filing.
The result — A wedding photography studio, Mississauga, Ontario
$110,000 of cash was released from the working capital cycle. The expansion completed with every registration and filing obligation covered from day one.
Case Study 4 · Backlog brought current
3 Years Filed, $52,000 Removed From The Assessed Balance — Dental Hygiene Clinic, Lethbridge
Client: A dental hygiene clinic · Where: Lethbridge, Alberta · Engagement: 5 weeks, fixed fee
Years filed3
Assessed balance removed$52,000
CollectionsStopped
The situation — A dental hygiene clinic, Lethbridge, Alberta
A dental hygiene clinic in Lethbridge, Alberta had not filed for 3 years. The CRA had issued arbitrary assessments. The business was carrying eighteen months of unreconciled transactions and a shoebox of receipts. That came on top of a growing interest balance.
What we did for A dental hygiene clinic, Lethbridge, Alberta
We started with the oldest year and worked forward so each year's closing balances fed the next. We converted the foreign-currency purchases at transaction-date rates and recorded the exchange difference at settlement instead of burying it in cost of sales. We filed the years in sequence rather than all at once.
The result — A dental hygiene clinic, Lethbridge, Alberta
Every year is now filed and assessed on actual figures. The notional assessments were vacated and $52,000 of the estimated balance came off, with a payment arrangement covering the rest.
Case Study 5 · Records and systems rebuilt
Books Rebuilt From Source, $10,500 In Unclaimed Input Tax Found — Owner-Operated Trades Business, Moncton
Client: An owner-operated trades business · Where: Moncton, New Brunswick · Engagement: 7 weeks, fixed fee
Unclaimed tax found$10,500
Records rebuilt11 months
ProcessDocumented
The situation — An owner-operated trades business, Moncton, New Brunswick
An owner-operated trades business in Moncton, New Brunswick could not answer basic questions about its own numbers. Sales recorded from bank deposits, so processor fees, chargebacks and refunds appeared nowhere in the ledger sat between the bank statements and the ledger.
What we did for An owner-operated trades business, Moncton, New Brunswick
We recoded the meals and entertainment accounts to the statutory limit and reversed the over-claimed input tax credits before the next return went in. We then documented the process so the work does not depend on any one person remembering how it was done.
The result — An owner-operated trades business, Moncton, New Brunswick
Records rebuilt and reconciled, $10,500 recovered in input tax credits that the old file could not support, and a documented monthly process now in place.
Case Study 6 · CRA review defended
$88,000 Proposed Adjustment Withdrawn In Full — Residential Cleaning Franchise, Kitchener
The situation — A residential cleaning franchise, Kitchener, Ontario
A residential cleaning franchise in Kitchener, Ontario received a proposal letter opening a review of Wave accounting support. The CRA had identified a bookkeeping file where owner draws, payroll and supplier payments all landed in the same account. It proposed an adjustment of $88,000, with 30 days to respond.
What we did for A residential cleaning franchise, Kitchener, Ontario
We treated the response as an evidence exercise rather than an argument. We rebuilt sales from the processor settlement reports so gross sales, fees and refunds each landed in an account of their own. We then indexed every supporting document against the specific line the auditor had questioned.
The result — A residential cleaning franchise, Kitchener, Ontario
The proposed adjustment was withdrawn in full — all $88,000 of it. The file closed in 5 weeks with no change to the assessed amounts and no penalty.
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.
