Bank Reconciliation
Reconciliation is how you confirm that what CifraHQ recorded actually happened at the bank. Every month, after locking your Accounting period, you compare the transactions in CifraHQ against your bank statement line by line. When the two agree — when your Delta is zero — you know your books are clean. Catching a discrepancy here, in the current period, is far easier than unraveling it six months later.
How to reconcile a bank account
- Go to Banking > Financial Institutions and open the account you want to reconcile.
- Click Reconcile.
- Select the Posting Period you are reconciling (must be a locked period).
- Enter the Period Ending Balance from your bank statement.
- CifraHQ shows the Reconciled Balance — the sum of all transactions recorded in the system for that period.
- The Delta (Ending Balance − Reconciled Balance) shows the difference. Your target is Delta = 0.00.
- Review the transactions grid. For each item that appears on your bank statement, check it as Reconciled.
- If all transactions match and Delta is 0.00, the reconciliation is complete.
Understanding the numbers
| Field |
Meaning |
| Period Ending Balance |
The closing balance on your bank statement for this period — you type this in from your statement |
| Reconciled Balance |
Calculated by CifraHQ: the sum of all posted transactions for this account in the selected period |
| Delta |
The difference: Ending Balance − Reconciled Balance. Must reach 0.00 for a clean reconciliation |
Handling discrepancies
If Delta is not zero, investigate in this order:
- Missing transactions — look for payments or receipts on the bank statement that have not been recorded in CifraHQ yet. Enter them as Bill Payments, Invoice Payments, or manual Bank Transactions.
- Timing differences — transactions recorded in CifraHQ in a different period than they cleared the bank. These appear as "Deferred" items in the reconciliation grid and carry forward automatically.
- Bank fees or interest — small charges on the statement that were never entered in CifraHQ. Add a manual Bank Transaction for each one, then return to the reconciliation.
Tips
- Reconcile monthly, right after locking the period. The sooner you reconcile, the easier it is to track down discrepancies. Waiting three months means three months of potential mix-ups to untangle.
- Deferred transactions from prior periods that did not clear on time appear automatically in the grid alongside the current period's transactions — you do not need to find and add them manually.
- Credit card accounts reconcile exactly the same way as bank accounts. Open the credit card institution and reconcile against your monthly credit card statement.
Related: Journal Entries · Bank Transactions · Financial Institutions · Audit Trail