Chit Transaction Management

Chit Fund Software plays a significant role in the present days. It reduces the labors work. A chit generally means a transaction. A person can take part in bid auctions if he is far away from head office. Provide secured online access to it members. Members can see next payment information, amount to be paid along with Loan details etc. It comprises of all the essential facilities and features which required to streamline your chitfund activities.

Chit fund software is a flexible and a user friendly web-based software solution that is used in Chit fund institutes that reduce the reports, labours, generation time and increases the quality and accuracy of information..

Chitfund software is a web-based application helps keep a track of the chits and makes report management easy. It is one of the simplest software dealing with chit fund amount transaction of a financial transactions and it is maintaining computerized ledger to store and maintain Chit fund.

ACCOUNTING MAINTENANCE :

Chitfund software takes advantage of The Accrual-basis accounting, which is the best way to present your organization's financial position as it records transactions, as they occur, rather than waiting until the cash itself is exchanged. This means, all you cash and non cash transactions can be recorded.

ENTRY SYSTEM :

All accounting entries are automated. Once entered, it would be posted in all corresponding levels of

• General Ledger
• Day Book
• Cash Book
• Cash In Hand
• Cash In Bank
• Trial Balance
• Profits & Loss Account and Balance Sheet.

REPROTING TOOLS :

Produce regular reports daily transactions for up-to-date financial information. Whether it is Trial Balance, Profit and loss report, Balance sheet, Cash flow statement, Account balances, Cheque received/issued, Easy Chit sorts and analyses all your transactions automatically to produce reports so you can see how your business is performing.

Features of Chit Fund Accounting Software :

• This Software Can Efficiently Handle Chit Details.
• These Can Maintain Customer Details.
• These Can Maintain The Chit Taken Details Of Every Individual Customer.
• These Can Efficiently Handle Amount Collection Details.
• Prized Subscriber List

Chit Fund Accounting:

Chits are great method for funds for any possibility requiring considerable sum. Chits give a decent wellspring of fund for various sorts of individuals like Businessmen, Industrialist, little speculators and so on. They additionally assume an interesting part in the advancement of the economy. Chit Fund establishment is domestic, basic simple and promptly grasped and broadly acknowledged by all class of individuals. Chit fund speak to a conventional type of sparing cum-credit organization advanced before the bank framework was presented in India.

Chit Fund System:

Any type of deal under which a man goes into a concurrence with a predefined number of people that each one of them should subscribe a specific aggregate of cash in the method for periodical portions over an absolute period and that each such follower might, in his turn, as guided by parcel/sell off/delicate be qualified for the prize sum. It is a sort of investment funds plot rehearsed in India.

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