Tax Payments

Every time you post an invoice, CifraHQ accumulates the collected tax in a liability account — money you're holding on behalf of the government. A tax payment clears that liability and records the outgoing bank transaction, so your books reflect the exact amount you still owe.

How to create a Tax Payment

1. Go to Accounting > Tax Payments.
2. Click New.
3. Select the Tax Authority you are remitting to (e.g., DGI Panama).
4. Select the Financial Institution (bank account) the payment is going out from.
5. Set the Posting Date.
6. Set the From Date and To Date — the period covered by this remittance.
7. Enter the Amount to remit.
8. Add a Reference Number (e.g., the government payment reference).
9. Post the payment.

Field reference

• Tax Authority — the government entity receiving the tax; links directly to the configured GL liability account that holds what you owe.
• Financial Institution — the bank account the payment leaves from; your bank balance is reduced on posting.
• From Date / To Date — the period this payment covers; drives accurate tax reporting and gives auditors a clear remittance window.
• Amount — the total tax being remitted to this authority.

Document lifecycle

Tips

• Before entering the amount, run the Tax Report (under Analytics > Financial Reports) to confirm exactly what you owe for the period — avoid over- or under-remitting.
• The tax liability balance shown on the Tax Authority record updates in real time as Invoices are posted. Check it just before entering the payment amount.
• Always paste the government's payment confirmation number into the Reference field. If you're ever audited, that reference links your books to the official payment record.

Related: Tax Codes · Financial Reports · Tax Authorities · Form 430 (ITBMS) · Bank Transactions · Audit Trail