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SACCO & cooperative: what it does

Savings, credit and collections on the SACCO's own books.

Steps

  1. It is switched on for an organisation registered as SACCO / cooperative (with Accounting). Go to SACCO & cooperative in the menu.
  2. Members and where they belong (branches, stages, routes, savings and guarantor groups); shares, deposits, savings, welfare and levies as separate balances; collections by M-Pesa paybill or prompt, bank or cash; loans with guarantors, approvals and schedules; withdrawals; the reports.
  3. Every amount is in the member's ledger and in the books: members' deposits, share capital, loans to members, interest and fees earned - so the financial statements are a SACCO's.

Good to know

  • Asset finance for motorcycles and tuk-tuks, and transport operations (riders, vehicles, stages), come in the next releases.