Chamasoft acts as an online treasurer for the Sacco. It does this in the following way;

It reminds members to pay for their different contributions, sends them invoices and updates their respective statements detailing how much they owe and why they owe it.

If a member defaults in paying for their contribution, chamasoft automatically calculates the members’ penalty and updates his/her statement.

All the treasurer does is record payments and Chamasoft reconciles everything.



Financial Management
fig 1: Financial Management

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