Set up daily savings, monthly savings and loan

1

I am trying to use manager for a cooperative. How can I set daily savings,monthly savings and loan against each customer?

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2

Depends on how the organization operates. Describe what you mean by savings and by loans against customers. For a co-op, capital accounts could be appropriate for members. But are these the same as customers?

3

I have total 50 customers…30 daily savings…who deposit daily against their savings…
few have monthly savings…who deposit monthly against their monthly savings

4

For monthly savings… I provide 4% interest 4 month savings…8% for 8 months…12% for 12months

5

I also give loan to my customers…

6

So you are operating like a bank or a savings & loan association. Sorry, but I’m not qualified to offer suggestions on that. I question whether Manager is the right software for you. Other users might have experience with this, but I do not.

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7

Manager doesn’t have a module for that. I’m planning to add new tab called Loan accounts which will allow you to setup depositors in it.

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8

when can we expect this module?

(GIVING LAONS) what types of loans like: EMI plans (amortization schedule)
or
(TAKING MONEY FROM DEPOSITORS)
fixed deposits savings (flat rate)
or EMI plans (amortization schedule) as per the schedule i will pay the money back (@ Reducing Rates)?

this module is very useful for cooperative societies

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9

Any progress on the loans module

10

This topic was originally about a specific situation. You have provided no information about yours. But in general, custom control accounts can be used to consolidate reporting of loans.

What are your specific needs?

11

Hi,

I am using the application to run our small savings and loans family business. I would like to be able to track loans to members. How may I do that.

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12

As @lubos posted in May 2015, Manager does not have a module suitable for that. My comment pointed towards a potential workaround, but I would not consider it suitable for a savings and loan business. I suggest you research more suitable software.

13

Thanks,

I am trying a work around with custom accounts and I think I am almost
there. I like the software and I am not about to give up.

I hope you will implement the loans module some day soon.

Great app though.

James

14

Actually, there is Special accounts module now which can be used to track many loans without spoiling balance sheet with too much detail.

This is what Loans module was essentially made to do… Special accounts is basically the same thing.

Check release notes on Special accounts.

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