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SACCO Management System

The Sacco System is an application for use in Savings and Credit Cooperative Societies (SACCO). It is used for monitoring and keeping records of members’ savings, loans, withdrawals and deposits. NB: The Customer input module, loans module, dividend module, accounting module and the Front Office module are bundled together to form the Pro Sacco system.

The Modules are;

BACK OFFICE MODULE (BOSA),

The Back Office which is designed to keep track of member register, savings and loans and for automatic dividend generation.

FRONT OFFICE MODULE (FOSA)

The Front Office is a front office services module that allows for micro-banking transactions to be carried out.

TRANSACTIONS

After entering the initial member, loan types and share types information, the user will then enter transactions on share amounts, share contribution rate, loan amounts and loan repayment amount and other day-to-day adjustments. The transactions and adjustments that the system keeps track of include the following:

• Loan and Shares adjustments for the current month/period
• Cash remittance on loan, shares and interest
• Cash refund on loan, shares and interest
• Repayment and contribution rate adjustment on loans and shares
• Registering new member loans, repayment amount, member basic salary and loan guarantors
• Registering member shares and contribution rate amount
• Calculating dividend shares
• Loan application form, loan appraisal, tracking and processing

PROCESSING

The system carries out a number of automatic processes, which the program performs without the user’s interaction. These processes include the following:

• Zenith Business personnel have been carefully selected for their intelligence andresourcefulness, attitude and work ethic. In addition our engineers have extensive experience .
• Debit raising to generate a schedule of expected remittances on shares and loans
• Post period to close the current period and open a new period/month
• Generate dividend to calculate the tax charged and the amount paid to each Sacco member
• Post dividend to update dividend report
• End of Year Procedure (EOY) to close current year and open a new year

REPORTS

After the period transactions are carried out various reports are then available from the system. These reports show the status of the loans, the members’ shares, loan and share history among others. All reports may be viewed on the form or printed out. The reports include:

• Monthly Shares/ Loans expected remittances
• New Loans issued in current period
• Loan application in current period
• Share contribution rate adjustments
• Loan contribution rate adjustments
• Cash remittance and error corrections
• Cash refund and error corrections
• General Ledger Summary
• Member Cards for current year
• Member Statements for current year sorted in loan/share type
• Loan Status
• Defaulters report – aged
• Loan History
• Share Status
• Guarantors Listing and loans guaranteed
• Dividends
• Share/Loan Schedule
• Members/Next of Kin Listing
• Loan/Share Type Listing
• Stations/ Department Listing

The reports can also be exported to popular spreadsheets and word processors such as Microsoft Excel and Microsoft Word or even send by electronic mail