Translation within Canada Ledger for Project Billed in USD

Summary:

We have a new project in Canada that is setup in our Canadian ledger. All transactions related to the project are in USD (costs, billings forecast values, etc). We are wondering how the values will post to the G/L and how translation will work.

Content (please ensure you mask any confidential information):

All the transactions for the new project in the Canadian ledger will be in USD. When we bill the customer in USD and run create accounting, will the balances post to the general ledger in USD or CAD? If CAD, are the values automatically translated based on the currency rates we have setup within manage currency rates?