SACCO Management Software System in Kenya

Description

SACCO Management Software System

This online loan management system makes the process of lending loans simple and easy by laying out all the details and information regarding the loan, including the months and years ahead of the load and the interests added every month.

Features

  • Easy to use and secure credit management system for lending business
  • Set up different loan types with preferred interest rates, repayment period, interest frequency and penalties
  • It has a fully functional roles and permissions module
  • Unlimited number of Member
  • It stores all the data in MS SQL Server using Entity Framework Core.
  • Simple to use and inbuilt accounting for back-end double entry
  • Accounting Reports Creation and generation

SACCO Management Software System in Kenya

INTUITIVE & USER-FRIENDLY

Most functions can be done in one or two clicks. The system has a simple and clear user interface, with best-practice workflows taking you through all core processes, and relevant data always at your fingertips.

BORROWERS MANAGEMENT

The system enables the capture of personal information, unique identifiers, next of kin details, business information and much more. You can upload scanned photos or documents to a client’s account. You can also add your own custom fields.

LOANS & SAVINGS

This system has flexible loan and savings module which you can adjust or customize to suit your microfinance needs.

ACCOUNTING

You can configure your chart of accounts with GL codes and link them to loan or savings products and many other applicable areas. Some journal entries are automatic like loan disbursements while some can be added manually. You can find various accounting reports like trial balance, balance sheet and profit and loss accounts.

REPORTS

View and export high quality reports. Reports include borrower numbers, loan portfolio, arrears reports, savings reports, expected vs actual payments, collection sheets, provisioning and many more

STAFF MANAGEMENT

Manage users with ease. Set permissions for each staff role and control what pages they can see. You can also set payroll for your staff. See audit trail to check what your staff has been doing.

KEY FEATURES

BORROWERS

  • Only First Name and Last Name required to create borrower
  • Upload picture and files if any
  • Add details such as DOB, Email, Mobile, and Address
  • Send SMS and Email directly to Borrower
  • Auto Send SMS and Email
  • Add Loans
  • Unlimited Borrowers can be added

ADD LOAN

To add loans, you first need to add a Loan Product which is where you set interest rates and other fields.

  • Add Loan Products
  • Choose from Flat Interest, Reducing Balance – Equal Installments, Reducing Balance – Equal Principal, Interest-Only loans
  • Released Date, Amount, Interest %, Duration, and Repayment Cycle
  • Set Grace Period
  • Set Penalties for late repayment and after maturity date
  • Set a different Interest Start Date
  • First Repayment Date and First Repayment Amount can be manually set in Add Loan
  • Add Loan Fees
  • Add Loan Agreement files
  • Unlimited Loans

MANAGE LOAN

  • View and print Loan Statement and Collection Schedule
  • Add Repayment
  • View Loan Terms and Files
  • Add Comments
  • Edit Collection Sheet
  • Override Loan Due Amount
  • Filter Loans
  • Send bulk SMS to borrowers on the Daily Collection Sheet or the Overdue Loans Sheets.

COLLATERAL REGISTER

  • Add Collateral
  • Manage all Collateral in a Register

EXPENSES

  • Add Expense
  • Set Expense Type
  • Upload Invoices and Receipts
  • Set Recurring Expenses
  • View and filter Expenses based on Expense Type

PAYROLL

  • Add Payroll for your Staff
  • Automatically Generate Payslips
  • Choose Payroll Templates
  • Edit Template Fields
  • Set Recurring Payroll
  • View and filter Payroll based on Staff name

OTHER INCOME

  • Add Other Income
  • Set Other Income Type
  • Upload Files
  • Download Receipts
  • Set Recurring Other Income
  • View and filter Other Income based on Other Income Type

CHARTS

  • Loan Released Chart
  • Loan Collections Chart
  • Balance Sheet, Net Profit, Gross Profit, Expenses, and Payroll Charts

REPORTS

  • Collection Report and Chart
  • Cash Flow and Detailed Cash Flow
  • Profit Loss Statement
  • Balance Sheet

USERS

  • Add Staff and upload picture and files
  • Set Staff Roles for each staff such as Cashier, Teller, Operations Manager, Collector, and Branch Manager
  • Set permissions for each staff role and control what pages they can see

CUSTOM FIELDS

  • Add your own form fields to borrowers, loans, expenses, other income,collateral

CRON JOBS

  • Configure the system to automatically send reports, remind borrowers or set penalties

The application has other features which you will see when you start using the system

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