Hello Braedon,

1. Yes.

2. In Ledger, when you set an account to multicurrency, you can set the default currency for the account. If the account has a balance in CAD, you will need to create an entry to reduce the CAD balance and increase the USD balance. An account may have multiple currencies posted to it and the balance in each is maintained.

3. The control accounts may be single or multicurrency. You can make AR or AP multicurrency with out making the control account in Ledger multicurrency. Whichever method you use, don't revalue Control or clearing accounts for the subledger in Ledger. AR and AP have revaluation functions.