How CifraHQ Works

CifraHQ is a cloud Accounting system built for distribution, manufacturing, and retail businesses. It handles the complete business cycle - from purchasing goods and managing Inventory to selling, invoicing, and closing the books - with full double-entry Accounting built in at every step.

The complete business flow

Vendors --> Purchase Orders --> Inventory Receipts --> Vendor Bills --> Bill Payments
                                         |
                                   Inventory
                                         |
Customers <-- Invoices <-- Deliveries <--+    Sales Orders <-- Quotes
                  |
             Invoice Payments

Every transaction that moves money or Inventory automatically creates a journal entry in the General Ledger. The complete record of every debit and credit is the Audit Trail, and the wiring between subsystems and accounts is configured in Account Priming. You never need to touch the GL for routine transactions.

Modules at a glance

Purchasing

Manage everything you buy. Create Purchase Orders, receive goods via Inventory Receipts, record vendor Invoices as Vendor Bills, and pay them with Bill Payments. Handle Returns with Vendor Credit Notes and advance payments with Vendor Pre-Payments. Master Data: Vendors, Vendor Groups, Payment Terms.

Sales

Manage everything you sell. Convert Quotes to Sales Orders, ship with Inventory Deliveries, and bill Customers with Invoices. Collect payments via Invoice Payments. Handle Returns with Customer Returns, Return Receipts, Customer Credit Notes and Customer Credit Memos. Take advances with Customer Pre-Payments. Master Data: Customers, Customer Groups, Price Rules, Commission Rules.

Inventory

Track stock in real time across Warehouses and inspect on-hand by location at Inventory by Location. Move goods between locations with Warehouse Transfers (Transfer Shipments + Transfer Receipts). Correct balances with Inbound Adjustments and Outbound Adjustments, and capture physical counts with Inventory Counts. Build finished goods from components with Assembly Orders and Assembly Receipts, defined as Product Bundles. Master Data: Products, Product Categories, Product Groups, CBSP Codes.

Banking

Set up your Financial Institutions, record every credit and debit through Bank Transactions, move money between your accounts with Bank Transfers, and reconcile each account monthly through Bank Reconciliation. Make manual corrections via Journal Entries.

Accounting

The Audit Trail is the complete posted ledger. Configure your Chart of Accounts, group the leaves with Account Categories, and wire subsystems to accounts via Account Priming. Open and close periods through Posting Periods. Manage taxes with Tax Authorities, Tax Codes, Tax Payments, and Panama's Form 430 (ITBMS). Track depreciable assets via Fixed Assets, Asset Categories, and Fixed Asset Products.

Expenses

Capture employee and operational Expenses and process Expense Refunds. Both flows post to the GL through Account Priming and the Bank.

Reports

Run Financial Reports (P&L, Balance Sheet, Trial Balance) for any date range. Inspect stock with the Inventory Report, the Detailed Inventory, and Favorite Products. Build your own ad-hoc queries with Query Builder, display them on Dashboards using Widgets.

Payroll

Set up Employees, define earnings and deductions through Payroll Concepts. Run pay cycles in Periods and Runs, calculate Decimo Tercer Mes, track Vacations and Terminations. File Form 03 Annual ISR and watch deadlines on the Compliance Calendar.

Setup

Configure your tenant in Tenant Configuration. Manage Users, User Sessions, Modules, and User Permissions. Customise output with Print Reports, Email Templates, and Translations. Automate with Workflows and Webhooks. Operate the system through System Logs, Database Backups, Document Numbering, and User Defined Fields. Connect external systems via the CifraHQ API.

Logistics & Master Data

Define your shipping mix through Carriers / Freight Carriers, Shipping Terms, and Freight Terms. Set up your supported Currencies, Payment Methods, and Payment Brokers. Anchor addresses with Geography. Reuse repeating documents with Recurring Templates, and centralise extra fees with Additional Charges. Activate Panama's Electronic Invoicing to comply with ETAX.

What makes CifraHQ different

CifraHQ is purpose-built for product-based businesses:

• Pack size control: sell and receive Products in packs, boxes, or pallets; CifraHQ tracks the math automatically.
• Lot and serial tracking: trace every unit through receipt, storage, and delivery.
• Expiry date management: flag Products nearing their expiry date.
• Multi-currency: transact with Vendors and Customers in any currency; exchange rates are applied automatically.
• Electronic invoicing: direct integration with Panama's ETAX e-invoicing system (and others).
• Warehouse integration: connect to an external WMS for warehouse-managed deliveries and transfers.

Where to start

New to CifraHQ? Follow the Setup checklist in the Getting Started guide, then add your Master Data (Products, Vendors, Customers) before entering any transactions.