ForeSight Sacco (Micro-Finance) Software(FSMF)

ForeSight Microfinance Software is a powerful application designed for Savings and Credit Cooperative Societies (SACCO). The application is used to not only monitor and maintain records of the SACCO's members' savings, loans, withdrawals and deposits, but also to calculate interest and dividends used either in a stand-alone PC, in a multiuser or in a Web-based environment. The application comprises of five main modules namely , the Member Personal Accounts Module, the Front Office (FOSA) Module, the General Ledger Module, the Mobile Banking Bridge and Member Statements Website. All Modules are intergrated.

Front office module: Has all banking functionalities such as creating accounts, banking, withdrawals and transaction charges. Tellers receives and issue receipts for all transactions. The module facilitates the SACCO to operate a front office set up, that is similar to that of a banking hall.

Member Personal Accounts Module: This is used in the administration of the SACCO to:

General Ledger Module: This module comprises of the following:

Special features

Back-up & Restore: That prevents loss of vital data

Documentation: The system has online help and a manual.

Comprehensive database: The system has been developed on MySQL database which is free. In addition, it is the leading Open Source Relational database management system running over 75% of the world’s internet sites.

Enhanced Reporting Capabilities: Reports can be generated or viewed on the PC, or exported to the widely used Microsoft Office Products i.e Excel

Security System: Controls access and rights to the system, and is equipped with a User Audit Trail that keeps track of all users, listing the user's log in and log out time, date and the transactions they executed.

Automatic Processing Feature: The system automatically generates a schedule of expected remittances on shares/deposits, loans and interest on loans. The system provides various interest calculation methods.

Why use Foresight payroll Management System

Some of the Reports Available include:--

  • Cash Refund
  • Loan repayments
  • Cash Remittance
  • New Loans Approved
  • Monthly Shares / Loans
  • Till/Teller control reports
  • General Ledger Summary
  • Loan Applications and status
  • Members / Next of Kin Listing
  • Member Account Statements
  • Loan Repayment Rate Adjustment
  • Share Contribution Rate Adjustment
  • Dividends
  • Guarantors
  • Loan Status
  • Loan History
  • Share Status
  • Member Cards
  • Member deposits
  • Member Statements
  • Share / Loan Schedule
  • SASRA reports: Capital Adequacy Return, Liquidity Statement, Statement of Deposit return, Risk Classification of Assets, Investment return, Statement of Financial position, Statement of comprehensive income, Other Disclosures.

                    

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