About Jerry Pencak
Jerry Pencak, CPA
Founded in 1994, TRS Tax Recovery Services Inc. is a boutique sales tax consulting firm which helps large companies across Canada recover overpaid GST/HST, QST, and PST.
As the firm’s principal, I have over 30+ years’ experience in sales tax recoveries and will PERSONALLY do your audit. My tax experience is supplemented by 12 years’ experience in financial positions with Fortune 500 and The Globe and Mail Top 1000 Companies.
The TRS audit is primarily focused on the accounts payable cycle and identifying suppliers’ invoices where GST input tax credits (ITCs) and QST input tax refunds (ITRs) were not recorded, or recorded incorrectly, in the general ledger. This audit also includes an examination of suppliers’ invoices where Manitoba Retail Sales Tax (RST), Saskatchewan Provincial Sales Tax (PST), and British Columbia Provincial Sales Tax (PST) was paid, in error, for the purchase of exempt goods and services.
Choosing the right sales tax consulting firm can be a challenge when the market is saturated with medium-sized and big firms; business development representatives are well-trained and professional; and websites are impressive. That being said, it can be difficult to determine which firm is right for you.
“Big” is no longer seen as being the best due to higher employee turnover in today’s tight labour market. Although everyone knows that big firms have great reputations and will likely get the job done, there are many benefits to using a boutique firm like TRS.
What does this mean for you and your sales tax audit? The answer is – maximizing savings in GST/HST, QST, and PST is primarily a function of a sales tax consultant’s experience not the size or name of the firm. I have the specific skills, experience, and expertise required to maximize tax savings for your company!
Work Directly with the Principal of the Firm
TRS Tax Recovery Services Inc. may be the best fit for businesses in recovering overpaid sales tax in Canada which include:
- Goods and Services Tax (GST)
- Harmonized Sales Tax (HST)
- Quebec Sales Tax (QST)
- Manitoba Retail Sales Tax (RST)
- Saskatchewan Provincial Sales Tax (PST)
- British Columbia Provincial Sales Tax (PST)
At TRS, you’re not working with a “big” firm – it’s a one-to-one relationship! I will “personally” work with you and your staff from our first meeting though completion of your audit and provide all post-audit support. With a big firm, you will deal with a business development representative and work with a team of sales tax consultants or possibly one consultant. In both scenarios, these consultants will be employees or subcontractors having varied levels of sales tax and financial accounting experience. Please click tabs below to expand each section.
Sales Tax Consultant
Robert Brakel & Associates Ltd.
Brampton, ON
Performed sales tax reviews for hundreds of companies across Canada.
RBA was one of the largest sales tax and customs recovery firms in Canada.
Controller
Paperboard Industries Corporation
Toronto Mill Division
Toronto, ON
Directed all accounting functions through a staff of (6). Coordinated, prepared and presented the annual budget to the executive team located at the Group Head Office. Using ACCPAC, designed a new G/L chart of accounts to facilitate departmental expense reporting for a large manufacturing facility to provide managers with the information required to analyze, control and reduce costs. Redesigned and outsourced the payroll processing for hourly and salaried employees to reduce weekly processing time/errors and obtain improved information to analyze, control and reduce labour costs.
The Toronto Mill produced recycled boxboard in a 400,000 sq. ft. facility. PIC was the largest producer of recycled paperboard and packaging in Canada. The corporation was dissolved in 1991.
Controller
Schlumberger Limited
Sangamo Canada Ltd.
Toronto, ON
Directed all accounting functions through (3) managers and a staff of (9). Coordinated, prepared and presented the annual budget and quarterly forecasts to the executive team located at the North American Head Office in Atlanta, Georgia. Acquisition of a multi-million dollar meter reading company in Canada which was the first entry into this service market by Schlumberger North America.
Sangamo Canada manufactured electricity meters in a 250,000 sq. ft. facility in Toronto and a production facility in Quebec. Schlumberger Limited is a leading oilfield service provider with revenue of $33 BILLION (US) and 111,000 employees worldwide in 2023.
Financial Accounting Manager
The Heritage Group Inc. (formerly J. M. Schneider Inc.)
National Consolidated Food Brands Inc. (NATCO)
Waterloo, ON
Prepared monthly consolidated financial statements for a group of cheese and frozen food processors. Directed financial accounting functions at the corporate head office. Coordinated and prepared the annual budget.
NATCO was a distributor of cheese and frozen food products. JMS was one of largest meat, cheese and frozen food processors in Canada. Today, it is owned by Maple Leaf Foods.
Manager of Financial Services
Tenneco Inc.
Walker Exhausts
Cambridge, ON
Directed the financial, excluding cost accounting, functions through a staff of (7). Prepared the monthly financial statements in $CDN and $US. Coordinated and prepared the monthly moving 3-month forecast, quarterly forecast, annual budget and 5-year plan.
Walker Exhausts manufactures exhaust products in a 620,000 sq. ft. facility. Tenneco Inc. is one of the world’s largest manufacturers of emission control and ride control products for light, commercial, and specialty vehicle applications worldwide having revenue of $18 BILLION (US) and 71,000 employees worldwide in 2023.
Auditor
Price Waterhouse & Company
Kitchener, ON
A Big-4 accounting firm.
Experience and Expertise
Sales tax legislation is very complex. I have 30+ years’ experience in sales tax recoveries supplemented by 12 years’ experience in financial positions with Fortune 500 and The Globe and Mail Top 1000 Companies. Today, it’s highly unlikely to find a sales tax consultant employed by the same firm having over 30 years of service. Without a consultant having my level of experience in sales tax and financial accounting, it’s possible tax savings will not be maximized.
Chartered Professional Accountant (CPA). Toronto, ON. 2014.
Certified General Accountant (CGA), Toronto, ON. 1983.
Bachelor of Business Administration, Honours (BBA), Wilfrid Laurier University. Waterloo, ON. 1977.
A sales tax audit is very narrow in scope. It entails a comprehensive examination of accounts payable and general ledger electronic data; hard and/or soft suppliers’ invoices; and other relevant accounting documents. I’m focused and tech savvy! My exhaustive and effective audit approach will be used whether your electronic data includes 1,000 or one million accounts payable transactions. As principal, you could rest-assured that a very thorough examination of your records will be completed.
As the firm’s principal, I will remotely complete a PRE-AUDIT of your company’s accounts payable transactions and general ledger electronic data at the TRS office. Suppliers’ invoices and other relevant accounting documents will be examined during the FIELD AUDIT at your office.
I will complete your audit in an efficient and timely manner with minimal disruption to you and your staff. Your report will be completed within (7) days of completing the field audit. I will be committed to completion of your audit in its entirety before spending any field time on tax audits for other clients.
Simply bookmark taxrecoveryservices.com and use the FREE webtool “News & Research” to research sales tax issues. It includes links for all GST/HST, QST and PST government publications. Links are also provided for you to subscribe to FREE government sales tax news services.
I invite you to read 50+ testimonials received from clients under a formal feedback system implemented in 1994.
Ready to Recover Your Taxes?
Schedule a Service Consultation with Jerry Today
Please contact me for more information. TRS may be the best fit for your needs!
