LYNKSACCO CLOUD

Sacco financial management and Sacco business intelligence reporting solution integrated to provide a myriad of flexible package for managing the entire Sacco operations from Small/Medium based on the cloud to Enterprise client integrated in Multiple branches.


BOOKKEEPING AND ACCOUNTING AUTOMATION FOR CO-OPERATIVES

We also offer quality book-keeping and other related financial services. In particular, we offer assistance in customizing of good accounting systems with appropriate internal controls and take care of the audit process as well as training our clients on co-operative matters.

We offer high levels of confidentiality and we do not divulge to any unauthorized person or persons whosoever except in the proper course of your ties and use your best endeavors to prevent the unauthorized publication or disclosure of any information concerning dealings, transactions or affairs which may come.

  1. Prepare and produce quarterly up to date Member’s Personal Statements.

  2. Timely and accurate Payroll schedule deduction.

  3. Maintain a record of shares, deposits and loans schedules.

  4. Cash and bank reconciliation.

  5. Offer assistance in budget preparation.

  6. Prepare and Produce Monthly Trial Balance and quarterly interim financial statements.

  7. Prepare and produce Annual Financial statements ready for audit at the end of the financial year.

  8. Offering advice on cost control and taxation matters and insurance policy.

  9. Business Intelligence, we collect, collate, relate and produce the necessary financial data for management purposes.

  10. We assist cooperatives to design and integrate appropriate websites and portals.
Summary of Features Detailed Offering Optional Features
Member Details
  • Capture of personal details i.e. Names, Bank details, Nominee (Next of Kin Details), Member Loans and Guarantorship as required by clients
  • Support for biometrics registration
Products Setup
  • Creation of multiple savings and loan products as desired by Sacco including Housing and Land Sales.
  • Creation of different interest regimes i.e. reducing balance, fixed and compound interest.
  • Management of Loan Security options (Guarantors, Deposits, Assets or Collaterals)
  • Online Loan application
Loan Appraisal Workflow
  • Appraisal to determine loan qualification by members by factoring guarantees and other requirements as per the by-laws of individual Sacco and approval from the system
  • Members can have several loans but both must follow the 1/3 rule requirement.
  • Merging of different loan with top ups.
  • Loan Schedule, Interest calculations and Amortization.
Gurantors Management
  • System offers easy management of guarantors with checks to ensure that members don’t over guarantee loans.
  • Loan Balance can be recovered from guarantor based on percentage
  • Short code to query Guarantorship balance
Payroll Schedules & Check Off
  • Allows upload of payroll deduction and reconciliation employers payroll and check off into the system with recovery options
  • Import/ Upload of payroll deduction
Cash Book Analysis
  • Cashbook receipts and payment accounting for tracking movement of cash and bank balances to facilitate reconciliation.
  • All Payments that are done through the bank to various accounts captured in the system.
  • N/A
Financials & Audit Reports
  • Real time reports that capture the finance and cash position that is ready to print or export.
    • Trial Balance
    • Balance Sheet
    • Income statement (P & L)
    • General Ledgers
    • Trading A/C
  • Easy to produce financial audit reports.
  • N/A
Business Reports
  • Very versatile periodical reporting i.e. quarterly and annual statements and financials.
  • Payroll Items analysis reports with balances BF/CF deduction report i.e. contributions and loans.
  • Member financial statement.
  • Any other reports are customized as per client’s needs.
Security
  • Multiple user login profile, user group permission with authorization levels
  • History log and system events audit trail with staff Fraud detection.
  • Multi-level security access based on permissions.
  • N/A
Web Portal
  • Provides self-care service where Members can log in and check their statements online, online loan application & other services as may be permitted by the Sacco.
  • Cloud Backup and support to ensure that your system is always saved.
  • Allows for remote access by Sacco staff as long as they have internet connection i.e. through mobile phones, computers etc.
  • Access through Mobile App.
Bulk SMS Service & Email Broadcasts
  • Quick dispatch of information to members through SMS and email platforms
  • Members can subscribe to alerts which are charged at a premium.
  • More access through Mobile App

SACCO Solutions

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