All Sacco Accounting Features

This is a continuation of All Features & Benefits for Sacco Accounting System.

Sacco Accounting System

Sacco ERP Software provides you with smart effortless functionality enabling you to concentrate on other areas of your business operations. From Loans management, Shares and Dividends management to Customer and banking management, Bulk SMS , HRM and Payroll integrated all under one system.

Member Registration.

Membership Register means the membership register maintained by the Company at its principal office or by a duly appointed agent of the Company setting forth the name, address, the number of Units, and Capital Contributions of each Member of the Company, which shall be modified from time to time.

Bookkeeping

Bookkeeping is the recording, on a day-to-day basis, of the financial transactions and information pertaining to a business. It ensures that records of the individual financial transactions are correct, up-to-date and comprehensive. Accuracy is therefore vital to the process.

Loan Processing Transactions.

The steps taken by an institution lender from the time a request for a loan application is received to the time the loan is approved or denied, including taking the application, credit investigation, evaluation of the loan and other steps

Risk Management/Guarantor Security Management.

Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters.

Level of knowledge

SACCO in general experience a challenge in relation to the knowledge levels of their staff. Most SACCOs are not able to hire top graduates in finance and accounting who are usually absorbed by banks and big corporate.

We address this challenge by simplifying SACCO business operations. Any SACCO using sakoly may not need to hire an accountant or a finance officer. A trained sakoly user can deliver just as an accountant.

It process data and present it in the simplest form to its application in the business set up

Cost of professional services

It costs a fortune to hire professional services including human resource services, tax returns and consultancy and audit services.

We have an inbuilt human resource management system that empowers a user to function and deliver like a professional human resource manager.

Audit for organization running sakoly is simpler due to high level of data organization – this may save a SACCO a fortune when negotiating for best audit fees.

Good management practices.

SACCOs using sakoly find the system to be strict. We enforces SACCOs by-laws to the letter. Ensuring all guidelines are followed in all the operations including

  1. proper loan approval process
  2. loan disbursement process
  3. loan appraisal process
  4. Expenses incurring
  5. Among other

Good Management Practices promoted by sakoly safeguards shareholder funds from mismanagement and that is why sakoly is the best SACCO Accounting System.

Conclusion

Sacco Accounting System has changed forever, the way SACCOS do business and the way customers look at loan procurement. SACCOS can implement a fully-digital loan origination process using the latest innovations offered by sakoly. Easy application submission, quick approvals due to auto decisioning, compliant lending processes, and the ability to continually improve process efficiency are a must for a great lending platform. We, at sakoly have packaged the latest features on our Sacco Accounting System which makes it a desirable product to have, if you are in the business of lending. Please visit us on sakoly.com for more information and we will be happy to welcome you on board or customize a lending solution to meet your needs.

However, if you ever find any issue, need help, or just want to say hi, feel free to send us at email at info@sakoly.com — We will be happy to help you.