- SavingsProductsSavings Products
- SavingsAccounts
- SavingsAccountUse Savings Accounts
- Savings Account Use in Collection Sheet**
- Technical Notes**
SavingsProductsSavings Products
When defining a new savings product, various pieces of information are entered. The ones relevant to the collection sheet functionality are:
Applicable for (mandatory) :- This defines whether the product can be attached tosavingsaccounts forClients,GroupsORCenters.
Type of Deposits (mandatory) :- This defines whether deposits are Mandatory or Voluntary.
Mandatory or Recommended amount for depositThe deposit :- The mandatory (for mandatory type of deposits) or recommended (for voluntary type of deposits) amount to deposit.
Amount applies toIf to :- If ‘applicable for’ isGroupsthen is Groups then a choice must be made between ‘Per Individual’ and ‘Complete Group’. ‘Complete Group’ means that a deposit or withdrawal can only be made against a group level ‘customer’, whereas ‘Per Individual’ means that deposits and withdrawals can be made by each client in the group as well as the group itself. If ‘applicable for’ isClientsthen is Clients then it is not relevant to choose between ‘Per Individual’ and ‘Complete Group’. If ‘applicable for’ isCentersthen the system also does not allow a choice but, in practice, results in a ‘Per Individual’ choice. On the collection sheet, a centersavingsaccountallows center savings account allows deposits for all clients in the center and the center itself (but not groups). From here on a ‘Per Individual’accountmeans a groupsavingsaccountwhich Individual’ account means a group savings account which has been set to ‘Per Individual’ or any centersavingsaccount.Notecenter savings account.
NOTE: Center, Group and Client are all types of Customers. Centers may contain many Groups. Groups may contain may Clients. It is possible to configure mifos to not have Centers... leaving Groups as the top of the hierarchy.
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Like loans, some GL accounting information needs to be entered.
SavingsAccountsSavings Accounts
This savings product definition results in the following types of savings accounts:
Center Mandatory – always ‘Per Individual’
Center Voluntary - always ‘Per Individual’
Group Mandatory (Complete Group)
Group Mandatory (Per Individual)
Group Voluntary (Complete Group)
Group Voluntary (Per Individual)
Client Mandatory
Client Voluntary
SavingsAccountUse Savings Account Use in Collection Sheet
Schedules (a set of installments)
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A deposit or withdrawal does quite a bit of work within Mifos Table |
Savings_account |
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Update savings_balance |
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Savings_performance | Update total_deposits or total_withdrawals |
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Savings_activity_details | Create an entry per deposit maintaining balance_amount |
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Saving_schedule | Update outstanding entries | Deposits only |
Account_payment | Create an entry per deposit |
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Account_trxn | For each deposit, create one entry for each installment paid (or partially paid) off. Plus one entry for any amount left over. |
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Savings_trxn_detail | As in account_trxn (is a one-to-one subtype). Also maintains balance column |
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Financial_trxn | A pair of debit/credit entries for each account_trxn |
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Differences between 1.3 and Current Version
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