How Wakefield Marketing Agency Gained Financial Clarity and Lifestyle Freedom

CASE STUDY

Background

The client previously worked with a traditional CPA firm for bookkeeping and tax preparation. As a small business, they had experienced multiple business cycles but struggled to maintain financial discipline. Their previous CPA firm followed an old-school approach, where the client provided receipts and bank statements, and the firm prepared books and tax returns once a year. The client felt disconnected from their financials and lacked real-time insights to make informed business decisions.

Wakefield is a marketing agency with 5 staff and multiple client contracts across Canada and the U.S. Purpose CPA provided Bookkeeping, Accounting, and Tax Services to improve financial clarity and long-term sustainability.

Company:

Wakefield Marketing

Industry:

Marketing

Services Provided:

Accounting & Tax
Bookkeeping

Challenges

  • No real-time financial visibility – Since bookkeeping was not cloud-based, the client had no access to timely financial reports, making it difficult to track cash flow.
  • Limited operational scalability – The traditional CPA firm relied on manual processes and lacked the capacity to support a growing business.
  • Lack of strategic tax planning – The client was not receiving proactive tax strategies to minimize tax liabilities and optimize cash flow.

The Solution

Purpose CPA implemented a modern, cloud-based financial system to enhance efficiency and financial oversight:

  • Seamlessly transitioned bookkeeping services from the previous CPA firm with a structured onboarding process.
  • Implemented QuickBooks Online, Dext, and Wagepoint to automate data entry, payroll, and reporting, improving accuracy and real-time access to financials.
  • Upgraded to a top-tier bookkeeping plan, providing customized financial reports and quarterly financial coaching, which helped the owners make data-driven decisions.
  • Consolidated all bookkeeping, corporate tax (T2), and personal tax (T1) services under Purpose CPA, allowing for a comprehensive tax planning approach.

Impact

  • 20+ hours saved monthly – Automation in bookkeeping and payroll freed up significant time for the owners.
  • Improved financial decision-making – Access to timely financial data empowered the business owners with insights for growth.
  • Sustained profitability through multiple business cycles – The client maintained positive cash flow and long-term business stability.
  • Strategic tax savings – Tailored tax planning strategies helped minimize tax liabilities for both corporate and personal filings.
For a small organization like ours, having the finesse of an impact-based, B Corp minded CFO on our team makes us that much stronger strategically in our business decisions. Matt cares deeply for his clients and the inner workings of the company.

Donna

Wakefield Marketing

Conclusion

Through this transformation, Wakefield achieved financial clarity, scalability, and a strategic tax plan that supports long-term success.

Ready to streamline your business finances?

Partner with Purpose CPA to optimize your accounting, streamline tax planning, and improve financial operations.