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Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 3797
Experience:  20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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I've taken cash on a number of invoices, and didn't deposit

Customer Question

I've taken cash on a number of invoices, and didn't deposit them into the account. It's been over a year now, and my bookkeeper is quite annoyed, and I just want to take care of it in such a way as to take responsibility myself and also avoid trouble with CRA (Canadian Revenue Agency).
Can I simply state that these invoices were cancelled? A majority of them were paid without ever having been / needing to be sent to the payer - they simply came in a paid the cash, and didn't ask for a receipt - during hard times we decided to use the cash to get ahead - but the invoice had already been made ...
What are my options to keep my bookkeeper out of trouble, and of course the business ...
Submitted: 1 year ago.
Category: Tax
Expert:  Barbara replied 1 year ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

If you are asking whether it is acceptable to commit tax fraud by claiming invoices were cancelled for which you received cash payments, no.

Your bookkeeper will need to know what invoices were paid in cash but never deposited so she can adjust the income that was actually received but never deposited.

Please let me know if I can assist you further.

Thank you and best regards,


Expert:  Barbara replied 1 year ago.

Just following up with you to see if you have any other questions. If so, please let me know, and I will be happy to assist you further.

Best regards,