Entrepreneurship & Small Business

Paying Canadian CC from cross-border USD account

  • Last Updated:
  • Mar 25th, 2020 1:23 am
Feb 4, 2017
48 posts

Paying Canadian CC from cross-border USD account

I have a Canadian CC which I use to make business expense purchases (some purchases are in USD, with exchange to CAD). Reason I use this Canadian CC in this manner is because it gives me pretty good rewards when purchasing in foreign funds. I have both a Canadian business account, and a USA cross border business account. Most of the business income goes into to the USA cross border account. My question is, what's the best way to pay expenses on the Canadian CC using my USA cross border account?

At the moment when making payments to the Canadian CC I've been using VBCE to exchange USD (from my cross border US account) and transfer funds to my personal account, then paying the Canadian CC via my personal account. I know this isn't ideal and looks like a personal salary/payment (dividend) when it really isn't, but unfortunately I'm unable to set up the Canadian cc as a bill payment on my USD cross border account.

My goal is to make things easy (easy in terms of paper trail for accountant and CRA if I ever get audited).

Any help is appreciated.