For emyooga and pdm saccos
For Emyooga and PDM SACCOs
Government money comes with its own rules and its own reporting. Akiba Ledger is designed to keep it in the books properly from the first shilling.
The Parish Revolving Fund
A loan preset with the handbook’s terms: 6% a year, a 0.5% a month surcharge after default, a fee of at most UGX 5,000 and at most UGX 1,000,000 per household, with co-guarantors from the enterprise group.
Groups as members
An enterprise group or an Emyooga association can be a member, with its own loans and repayments, and its officers recorded.
Seed capital in the books
Money from the Microfinance Support Centre or the fund is a liability of the SACCO, not income, and the books show it so.
Not in the first release
Loans an association lends on to its own members, each with a sub-ledger. In the first release, a loan to an association is an ordinary loan to that member.
The parts you will use most
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Loans
Reducing balance, guarantors, arrears
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Members and KYC
Applications, NIN, consent, import
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Reports and returns
PAR, regulator forms, AGM, dividends