Invoice in USD. Your books stay right in CAD.
A US-dollar bank account or a customer who pays in USD no longer breaks the books. Official Bank of Canada daily rates price every foreign transaction into CAD on the day it happened, and the difference when the rate moves posts itself.
Full product, no feature tiers. Every new account is approved personally.
Official rates, one click
Under Ledger, FX rates, fetch the official Bank of Canada daily rate for the months you need, or type your own. One rate per month is enough to start.
USD accounts reconcile like any other
Load a USD statement and each line posts to the ledger in CAD at that day's rate, with the original amount kept in the memo. Matching against USD invoices and bills works the same way as in CAD.
Gains and losses post themselves
Invoice or get billed in USD, EUR or GBP by picking the currency on the document. When the rate moves between invoicing and payment, the difference lands automatically in Foreign Exchange Gain (Loss), exactly what your accountant expects.
The GST return stays in CAD
Foreign-currency documents convert at the dated rate, so the tax collected and the input tax credits on the return are in Canadian dollars, the way the CRA expects.
Questions about currencies
Which currencies can I use?
USD, EUR and GBP on invoices and bills, and USD bank accounts. The books themselves are kept in CAD.
Where do the exchange rates come from?
The Bank of Canada's official daily rates, fetched with one click, or rates you type yourself.
Do I have to post exchange differences by hand?
No. The difference between the invoice-date rate and the payment-date rate posts itself to Foreign Exchange Gain (Loss).
Run three real month-ends on us.
The full product for 90 days. Import your existing books and see for yourself.