Tax guides

Bookkeeping

Bookkeeping under rules on both sides of the border and the Canada–US tax treaty.

Bookkeeping

Books for a Canadian Company and Its US Company

Keep separate books for the Canadian and US companies. Record each sale in the company that actually sells to the customer. When the other company collects payment, record cash and an amount owed to the seller, then clear both intercompany accounts on settlement. Match balances in the currency owed before comparing converted ledger amounts.

Corporations

Bookkeeping: United States

Bookkeeping: Canada

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