Cross-border accounting: Canada & Costa Rica
Hengo is the only accounting platform that natively handles both Canadian taxes (GST/HST/QST) and Costa Rican taxes (IVA) in one system. If your business operates in both countries, Hengo eliminates the need for multiple accounting tools, manual currency conversions, and separate tax filings.
One platform, two countries
Create separate workspaces for your Canadian and Costa Rican operations. The Canadian workspace handles GST/HST/QST in CAD, while the Costa Rican workspace handles IVA in CRC and USD. Each workspace has its own chart of accounts, tax registration numbers, and reporting currency.
For consolidated reporting, Hengo converts all transactions to a single reporting currency and produces combined financial statements. This gives you a complete picture of your business across both countries without manual spreadsheet work.
Multi-currency with FX gain/loss
Hengo stores the original currency amount and exchange rate on every transaction. When you invoice a Canadian client in CAD and pay a Costa Rican supplier in CRC, Hengo converts both to your reporting currency and tracks the FX gain or loss on each transaction.
At period end, Hengo calculates realized FX gain/loss (on settled transactions) and unrealized FX gain/loss (on open balances), and reports them separately on the income statement for tax filing in both countries.
Tax compliance in both jurisdictions
For Canada: GST (5%), HST (13–15%), QST (9.975%), with separate returns for the CRA and Revenu Québec. For Costa Rica: IVA (13%) with facturación electrónica for Hacienda. Hengo generates the appropriate returns for each jurisdiction based on the workspace's country setting.
Frequently asked questions
Can Hengo handle a business operating in both Canada and Costa Rica?
Yes. Hengo is specifically designed for cross-border businesses. You create separate workspaces for each country, each with its own currency, tax registration, and chart of accounts. For consolidated reporting, Hengo converts all transactions to a single reporting currency.
How does Hengo handle currency conversion between CAD and CRC?
Hengo stores the original currency amount and exchange rate on every transaction. When generating consolidated reports, it converts all amounts to your reporting currency using the stored exchange rate, and calculates realized and unrealized FX gain/loss.
Can I invoice clients in one country and pay suppliers in another?
Yes. Hengo's multi-currency support means you can invoice a Canadian client in CAD and pay a Costa Rican supplier in CRC, all within the same workspace. The currency conversion and FX gain/loss are tracked automatically.
Does Hengo support cross-border tax compliance?
Yes. Hengo handles GST/HST/QST for Canada, US state sales tax, and Costa Rican IVA. Each workspace is configured for its country's tax system, and Hengo generates the appropriate returns for each jurisdiction.