Banking

Every payment in CifraHQ — whether you're paying a vendor or receiving cash from a customer — must flow through a financial institution. Setting up your bank accounts, credit cards, and lines of credit here means every transaction is automatically reconcilable and tied to the right GL account from the moment it's recorded.

How to create a Financial Institution

Go to Banking > Financial Institutions.
Click New.
Enter a Name for the account (e.g., Chase Checking USD).
Select the G/L Account — the type of account you select determines what kind of institution this is (bank account, credit card, or line of credit).
Select the Currency for this account.
Optionally enter Bank Details (account number, routing number, bank name) for reference.
Save.

Institution types

The GL account you assign determines how CifraHQ treats the institution — there's no separate type field to set:

G/L Account Type	CifraHQ treats it as
Bank / Cash account	Bank account (increases on receipts, decreases on payments)
Credit Card Payable	Credit card (decreases on charges, increases on payments)
Line of Credit	Line of credit (draws decrease balance, payments increase it)

The type of institution is determined by the G/L account you select, not by a separate type field. An account mapped to a liability type becomes a credit card; one mapped to an asset becomes a checking account.

Tips

Set up one financial institution per physical bank account. If you have a USD account and a PAB account at the same bank, create two separate records — mixing Currencies in one record will cause reconciliation headaches.
The currency assigned to a financial institution cannot be changed after transactions have been posted against it. Choose carefully upfront.
Use a name that matches your bank statement (e.g., Banco General — Cta. Cte. USD) so that when you're reconciling, there's no ambiguity about which account you're looking at.

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