Late & Multi-Year Catch-Up Bookkeeping
Fall behind on your books? We systematically rebuild historical transactions, reconcile bank records, and eliminate CRA audit panic with $0.00 variance precision.
Engagement scope & retainer
Diagnostic review followed by transparent flat catch-up pricing. We reconstruct historical bank feeds, clear backlogs, and bring ledgers current.
All fees confirmed before work begins following an initial diagnostic assessment. Reconciled down to $0.00 variance.
Schedule initial consultation →Overview & Scope
Methodical reconstruction of prior-year bank records, shoe-box receipts, and neglected ledgers.
Falling behind on bookkeeping is stressful, but you are not alone. Whether you are 6 months or 5 years behind, ML Financials specializes in historical ledger cleanup. We liaise with financial institutions to retrieve past statements, ingest electronic CSV records, match receipts, and rebuild your General Ledger from the ground up so you can file past-due taxes with confidence.
Key deliverables included
Every engagement includes comprehensive, verified deliverables designed for full compliance with CRA guidelines and seamless external CPA handoffs:
Line-by-line categorization and verification of multi-year bank, credit card, and loan statements.
Digitizing paper receipts, invoices, and supplier bills into organized, searchable cloud binders.
Calculating exact historical net sales tax balances and filing overdue GST34 returns or adjustments.
Untangling mixed personal expenditures from corporate funds to prevent Section 15(2) tax penalties.
Re-establishing verified opening balances that tie out perfectly to the most recent filed tax returns.
Delivering finalized trial balances and supporting schedules ready for immediate T2 corporate tax preparation.
Common compliance traps avoided
Canadian business tax and accounting regulations are stringent. Here is how our disciplined methodology prevents costly CRA audits and administrative penalties:
Allowing an inexperienced bookkeeper to dump unexplained discrepancies into 'retained earnings' or 'ask accountant' triggers immediate CRA desk audits.
Reconnecting old bank feeds without strict date fences imports hundreds of duplicate transactions, artificially doubling your revenue.
Failing to properly document expenses according to CRA rules permanently disqualifies you from recovering thousands in paid HST.
Ignoring unfiled years leads CRA to issue arbitrary, inflated notional assessments and freeze commercial operating accounts.
Prior-Year Cleanup or Review Needed?
If prior fiscal periods require historical reconstruction, unfiled HST returns, or ledger cleanup before routine monthly maintenance can begin, we perform an initial diagnostic and prepare a flat catch-up proposal.
Inquire about catch-up scope →Frequently asked questions
Clear answers regarding our Late & Multi-Year Catch-Up Bookkeeping scope, timelines, and Canadian accounting standards.
Is it too late if I haven't filed taxes in multiple years?
No. The CRA encourages proactive compliance through the Voluntary Disclosures Program (VDP). Filing complete, accurate historical returns avoids severe gross negligence penalties.
What if I have lost many of my physical paper receipts?
We help you pull historical electronic bank data, merchant processor archives, and contact major vendors for duplicate invoices to substantiate your expenses.
How long does a multi-year catch-up take?
A single year of backlog typically takes 3 to 7 business days once source bank data is provided. Multi-year files are completed on an expedited timeline.
Will you speak directly to CRA on my behalf?
Yes. With formal Represent a Client authorization, we can communicate directly with CRA agents to request extensions on audit deadlines while we prepare your file.
Let's discuss your bookkeeping & tax needs.
Tell us your entity type, tax years, and current accounting setup. Prepare a consultation inquiry or contact our certified bookkeeping team directly to discuss availability and engagement scope.
Direct Line: (873) 288-1923
Official Email: accounting@mlfinancials.ca
Practice Office: Suite 100, 310 Miwate Private, Ottawa, ON K1R 0E2
Before you send
Please provide a brief description of the bookkeeping or advisory assistance you need. Do not email SINs, passwords, banking credentials, or sensitive tax documents in your initial message.
Upon mutual agreement and engagement confirmation, we will provide a private, SOC-2 compliant client upload portal for secure document sharing.
Information on this website is general and is not individualized tax or legal advice. Engagements are subject to client acceptance, agreed scope of work, and applicable CPB Canada professional standards.