How We Helped a Healthcare Clinic in Oakville Optimize Accounting and Ensure CRA Compliance
]A growing healthcare clinic in Oakville approached Gondaliya CPA seeking expert accounting support to manage multiple revenue streams, including patient billing, insurance reimbursements, and government programs. The clinic needed a reliable system to track expenses, ensure accurate tax filings, and maintain compliance with CRA regulations.
About the Client
- Business Type: Healthcare clinic
- Location: Oakville, Ontario, Canada
- Previous Setup: Manual bookkeeping, spreadsheets, and basic invoicing systems
- Main Challenges:
- Managing multiple revenue streams from patients and insurers
- Ensuring accurate payroll, GST/HST, and corporate tax compliance
- Risk of late CRA filings and potential penalties
Client Objectives
- Implement a comprehensive accounting system tailored to healthcare operations
- Ensure timely and accurate CRA compliance for all financial activities
- Improve financial reporting for better clinic management and decision-making
What We Did
1. Customized Accounting System Setup
We implemented a clinic-specific accounting system to track patient billing, insurance reimbursements, payroll, and operational expenses. Custom dashboards provided management with quick financial insights.
2. Tax & Compliance Management
Our team guided the clinic through GST/HST, payroll taxes, and corporate tax obligations. All CRA filings were prepared and submitted on time, reducing the risk of penalties.
3. Financial Process Optimization
We established standardized processes for expense tracking, billing reconciliation, and reporting. Staff training ensured consistent system usage and compliance adherence.
Results
- Fully functional accounting system implemented for all clinic operations
- Accurate and timely CRA filings, avoiding penalties
- Enhanced financial visibility for management and operational planning
- Streamlined patient billing and insurance reimbursement processes
- Reduced administrative workload, allowing staff to focus on patient care
Summary:
For healthcare clinics in Oakville, Gondaliya CPA delivers professional accounting and compliance solutions that simplify financial management, ensure CRA compliance, and allow healthcare providers to focus on quality patient care.