Back to Our Work Finance & Accounting
Multi-Entity Finance Turnaround
A group of health, social-services and licensed-care companies, foster care, specialty and adult residential care..
3
4–12 mo
100%
The Transformation
From broken to in control.
Where it started
- Books 4–12 months behind and unreconcilable
- In active CRA delinquency: overdue taxes, unfiled T4s, mounting HST liabilities
- No chart of accounts, no separation between legally distinct entities
- Unable to file its taxes
Where it ended
- Books complete and current across every entity
- Moving to full CRA compliance across T4s, corporate tax and HST
- Clean chart of accounts, entities properly separated
- Clean, current, audit-ready books
The Situation
A finance function that had broken down.
A group of companies spanning foster care, specialty and adult residential care was operating on a finance function that had broken down across every entity. Books were months behind and could not be reconciled. Invoices were routed to the wrong companies, and intercompany transfers moved with no tracking or documentation.
The issues had reached the CRA. Corporate taxes were overdue, T4 slips were unfiled, and unmanaged HST filings had built up significant liabilities. There was no structured chart of accounts and no financial separation between companies that are legally and operationally independent, creating real compliance exposure and no clear view of the group’s finances.
Our Approach
Rebuilt from the ground up.
We rebuilt the finance function across all entities from the ground up. We enforced entity segregation so each company’s records stayed independent, and brought previously uncontrolled bank transfers under a formal, approval-based process.
We restructured the chart of accounts to remove duplicates and misclassifications, then worked entity by entity to record and reconcile a substantial backlog of transactions and invoices, bring expense reporting current, and centralize all documentation. Throughout, we moved the group toward CRA compliance across T4s, corporate tax and HST.
The Result
Current, compliant, and in control.
By the close of the engagement, bookkeeping was complete and current across every company. Expense reports were up to date, transactions were categorized and reconciled, and all documentation was centralized and accessible.
A finance function that began months behind, in active CRA delinquency and significant disorganization, ended reconciled, documented, and structured. The group moved from being unable to file its taxes to holding clean, current, audit-ready books across every company.
We were behind with the CRA, and our books were disorganized across all our companies. By the end, everything was current, organized, and under control.
Your business could be the
next
case study.
If something in your business has outgrown the way it’s run, we should talk about it.