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The following are the functions of our shares management information system;

  • All members shall be required to fill an application form (as per sample given) which contains all particular of each member as minimum requirement.
  • Each Sacco is given membership number and as well as CS NO which is generated from the Ministry of cooperative development. example CS for Harambee Sacco is 2165 it is a four digit number
  • Each member will be required to specify minimum share purchase per shares. However the system allows shareholders to buy additional shares from other members at the same price per share. However for ease of operation, the system allows user only to specified the amount of shares in shilling then it calculate the number of shares based per share
  • Each shares are sold or purchased at a specified rate per shares and the system should provide a provision for shareholders opening balances (number of shares and share value)
  • The main shareholders of Client are various Sacco which are spread all over the country and when admitting any Sacco, the system should link that Sacco to region (province) they come from. We should have a list of shareholders per region (Provinces)
  • There should be a receipting module which should capture all details including mode of payment (cash, cheques, bank slip, standing order, capitalization of dividend). The receipts can be filter per region and date range
  • Shares are not refundable, they can only be transferred or sold to another member at per value (under transaction window, we should have shares transfer module and in all windows, we should have provision to insert, amend, delete, view)
  • There is share certificate issued to shareholders for every shares bought (sample attached) and the system should automatically generate shareholders certificates.
  • The dividend shall be paid based of shares outstanding at the end of the year and upon approval from member at AGM
  • The system should compute dividend payable automatically
  • The system should generate dividend letter to shareholders as per sample. The letter is meant to ask shareholders whether to capitalize their dividend of pay out in cheque

There should be automatic generation of dividend slips as per sample given but well formatted

The system should generate report on all withholding tax at 5% deducted from dividend payout

There should be provision to scan and save the signature of various MD which shall appear in various letters which shall be auto generated by the system

Some of the Reports

  • Dividend master report showing how dividend was calculated, withholding tax and net dividend payable
  • Shareholders statements
  • Monthly share purchase and transfers per Sacco and per region
  • List of shares certificates issued
  • Summary report on shares contribution
  • Members statements showing movement in their accounts and they should be categorized as per region
  • Member register report showing there address and town amount IN SHILLINGS and shares