Somity Management System
Member, savings and loan management for cooperative societies — collections, instalments and dividends in one ledger.
Project overview
A cooperative society was running member savings and loans across paper passbooks and spreadsheets, with field collectors reconciling by hand at the end of each day. Overdue instalments were only noticed weeks later, and annual dividend calculation took a fortnight. We built a single ledger covering members, share and savings accounts, loan disbursement and instalment recovery, with collection sheets the field team works from and automatic overdue flagging. Dividend distribution is now a report rather than a project.
Key features
- Member registration with nominee and photo
- Share and savings accounts
- Daily, weekly and monthly collection sheets
- Loan application, approval and disbursement
- Instalment schedules with automatic due tracking
- Overdue and defaulter reporting
- Passbook printing
- Field collector assignment and daily reconciliation
- Profit and dividend distribution
- Branch-wise accounts and management reports
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