Canada
Accounting software for Canadian businesses
Canadian businesses need more from accounting software than a currency setting: GST/HST and input tax credits, provincial sales taxes, CRA filing deadlines and, for many, a US entity on the side. This guide lists what to check and where Finovra stands. Finovra is in development and not yet open to customers.
Where Canadian businesses feel the gaps
Tools built for the US market often treat Canadian sales tax as an afterthought. Combining GST with PST in British Columbia, Saskatchewan or Manitoba, or QST in Quebec, can mean manual adjustments every period, and input tax credits that are hard to trace back to the bills that created them.
Cross-border groups add another layer: a Canadian operating company in CAD and a US entity in USD, with books that each need to stand on their own before they can be combined.
What to check, and where Finovra stands
Use this list with any vendor. The Finovra column is limited to what we have built and tested.
| What to check | Why it matters | Finovra today |
|---|---|---|
| CAD functional currency | Books and statements should be in CAD, not converted on the fly | Built: CAD entities with exact cent amounts |
| GST/HST and input tax credits | Collect the right rate and trace every credit claimed to a bill | Planned; to be reviewed by Canadian tax professionals |
| PST, RST and QST | Provincial tax sits alongside GST in four provinces | Planned |
| GST/HST number on invoices | Registered businesses show their registration number | Planned with accounts receivable |
| Cross-border entities | Canadian and US entities in one workspace | Built: separate CAD and USD books. Consolidation planned |
| Period locks and audit trail | Year-end books must hold still for the T2 and review | Built |
| Canadian bank import | Statements from Canadian banks | File import in development; bank feeds planned |
| French | Required by many Quebec teams | Not available yet |
Questions to ask any vendor
How are input tax credits tracked?
Ask whether each credit links to the bill it came from, and how corrections are handled.
Which provinces are supported?
GST/HST support doesn't imply PST, RST or QST support. Ask about each.
Is CAD the book currency?
Some products convert everything to USD behind the scenes. Ask what currency the ledger stores.
Is French available?
Ask whether the interface, invoices and support are available in French.
Compare your current setup
Tell us about your entities and provinces, and we'll show what Finovra covers today and what is coming.
Last reviewed against the product on .