Problems

Commodity Tax errors are an all too common occurrence in large and small businesses alike. These errors are often due to the complexity of the taxes themselves, and the manner in which they apply to different industries and economic circumstances plus the almost constant changes in the applicable tax laws.

Accounts Payable errors result from numerous factors such as; year end or month end pressures, system changes, rushed payments, insufficient backup at the time of payment, an overworked Accounting Department, or simply the difficulty of proof reading one’s own work. 

Even the most sophisticated accounting systems are prone to errors … a 0.5% error on $10 million dollars of expenditures means a $50,000 in lost profits.

Solutions

Our Commodity Tax Recovery service provides our clients with a thorough sales tax audit to ensure that they are claiming the maximum Input Tax Credits (ITCs) available, as well as ensuring that sales taxes are not over remitted or paid in error.

Our Accounts Payable service provides your business with a thorough audit of your payment history in search of errors or irregularities such as; duplicate payments, payments to wrong vendors, overpayments, missed credit notes, overlapping invoices, unauthorized extra charges and contract compliance -- resulting in opportunities to recover funds on our client’s behalf.

Discover Recovery........................

McKinnon Recovery Group Ltd. prides itself on a thorough comprehensive review. Our success rate is 100% even in circumstances where we are performing our review after that of a competitor.  And remember -- ALL MRG Ltd. services are based on a contingency fee --  we do not invoice our clients until they realize an economic benefit from our efforts!

How does it work? 

When conducting our reviews, we scrutinize the data extract of your Accounts Payable history as well as your GST & PST returns.  Each recovery is presented to your company for approval prior to MRG taking any action. We do not contact your company's suppliers or vendors without your express consent first.

 Visit the BLOG