Financial Institutions
The Financial Institutions catalog registers the banks your company works with. It's not a screen for movements or balances: it's the master list you later pick from on your bank-type Ledger Accounts, on the financial section of your Customers/Vendors/Employees, and on your payment transactions, so AdmCloud knows which institution each account or deposit belongs to.
What it is and what it's for
Each record represents a real bank (for example, Banco Popular, BHD León or Scotiabank) or any other financial institution you deal with. Once created, you use it as a reference on:
- Bank-type Ledger Accounts. Every bank account in your Chart of Accounts indicates which Financial Institution it belongs to, so AdmCloud can print checks with the right format, generate the payment file and reconcile its statement.
- Customers, Vendors and Employees. The financial section of their record lets you pick which institution holds their bank account, for payments and transfers.
- Payroll payment transactions. Transactions that set an employee's paying bank get linked to this institution.
- Bank file generation. If you pick a "Known Bank" (one of the predefined official Dominican Republic banks), AdmCloud knows which file format to use when generating the payment file for that bank (for example, Popular, Scotiabank, BHD León or Promerica).
How to use it
- Open the Financial Institutions list. You'll see every institution already registered, sorted alphabetically by name.
- Click Create to register a new institution, or click an existing name to see its details.
- Fill in the form: enter the Name (required and unique), and if applicable, the Code, the Known Bank, the SWIFT Code and any Notes you want to keep about the institution.
- Click Save to create or update the record.
- From the detail screen, use the Edit button to modify the institution, or Delete to remove it (AdmCloud asks for confirmation and validates it's not in use before deleting it).
- Pick it later from the Bank field on your Ledger Accounts, or from the financial section of your Customers, Vendors or Employees, where it shows up in a dropdown with every registered institution.
Key fields
| Field | What it's for |
|---|---|
| Name | Identifies the institution throughout the app (dropdowns, reports, checks). It's required and can't be repeated between two institutions. |
| Code | An optional short code for your own internal reference. |
| Known Bank | An optional selector that links the record to one of the predefined official banks (mainly Dominican Republic banks). It's used so AdmCloud recognizes the correct format when generating bank payment files for that bank. |
| SWIFT Code | The bank's SWIFT/BIC code, useful for international transfers. |
| Notes | Free text for any extra remarks about the institution. |
Validations when saving and deleting
- Name is required. AdmCloud won't let you save an institution without a name.
- Name must be unique. You can't create two financial institutions with the same name.
- An institution in use can't be deleted. Before deleting it, AdmCloud checks that it isn't assigned as the bank on any Ledger Account, on the financial record of any Customer/Vendor/Employee, or on any payroll payment transaction. If it finds any, it shows the list of dependent records and blocks the deletion until you reassign or remove them first.
Tips and common mistakes
This catalog is reference-only. It doesn't record balances or movements; those are handled on your bank-type Ledger Accounts and in Bank Reconciliation.
Use "Known Bank" whenever the bank is on the list. If you're going to generate payment files for banks like Popular, Scotiabank, BHD León or Promerica, pick the matching bank in this field; otherwise AdmCloud won't be able to generate the file in the format that bank requires.
If you can't delete an institution, check the error message: it lists up to five ledger accounts, related records or transactions still using it. Reassign or delete them first, then try deleting the record again.