Credit Society Accounting software has its exclusive features and controls of loans and deposits.
One can easily keep the tracks of records and the software supports the users by giving timely reminders and pop ups for the defaulters of depositors
and loaners.The in build features of this software is one has to give a unique
membership to its members. This membership is an identity of that person.
The identity helps the software in remembering the name of the person and
all his history in the software like his transactions, reports, sponsors of new members, and with this membership one can see his reports that how many deposits he has paid and about his installments of loans.
There is another feature in build in the credit cooperatve society software is of withdrawals. There are two types of withdrawals one is personal withdrawals through cash or bank and another is of transfer of deposits to loan installments. If a person wants to transfer his deposits for paying of his loan installments he can do with the help of transfers through Journal Voucher without effecting cash or bank and for that the per requisite is that his deposits accounts should be more than loan installments.
To know the history of records of that particular person one has to go to Reports and Passbook, here one can see all his transaction in the form of deposits,loan figures, outstanding loans, shares and monthly deposits. To take a loan from the society one has to fill up the form with the two security person's name as a guarantor who must be the members of the society.
The effects of all the transactions whether in cash or bank, all the expensesand Deposits, investments and liabilities incurred by the society are all reflected In the financial statements like (P & L Account and Balance sheet). The accounts figures and ledgers as well as all MIS Reports related to the society is in build in the software. One can get breakups of all the monthly deposits as well as loans in the reports.