Agenda
Before each meeting we'll post a proposed agenda. You can add any item you would like to cover to the agenda by emailing the user list or editing this wiki page.
Session | Description | Presenter | Time |
|---|
Introduction | We will also have an introduction of everyone on the call so the community can get more personally connected. | Ed Cable | 5 min |
Implementer Show & Tell | Presenter TBD | TBD | 15 min |
| Discussion | Marie K Release Planning | Ed | 10 min |
Demo/Tutorial | Mifos ACC Accounting Module | Shiva/Venkat | 20 min |
| Open Office Hours | Support/feedback | | 10 min |
On the Call
- Venkat - Hugo
- Shiva - Hugo
- Semba - Kongalend
- Nayan - Conflux
- Thomas - Vastech
- Lassaad - enda
- Ed - COSM
- Marco - Quipu
Notes
From: http://sync.in/icYBVGFoFU
Agenda:
- Marie K Release Planning Discussion -
Mobile Banking
- Semba: not very developed yet in Namibia - mobipay - services for electricity other bills - run by private company using LTC telco
- Lassaad: Trying to work with local provider in Tunisia - many problems with central banking regulations in Tunisia
- Creova is the private company that they are working with - application is reading directly from the web interface of Mifos (no APIs)
- Blocked with regulation issues -
- Nayan: Telecoms are getting into mobile money transfer, local banks are driving that now.
- RBI has regulation where telecom companies can't offer it extensively
- Airtel - is getting into money transfers.
- No mobile banking experiences yet -
- Some banks use mobile phone for registering payments, reviewing client accounts.
- Not prevalent in MFI because conversion that have to do - loan officers think it is dangerous to use mobile phones - possibility of being stolen.
Mifos-ACC Demo
- Given by Venkat and Shiva of Hugo Technologies
- Mifos-ACC was designed to provide simple accounting functionality within Mifos such that small MFIs could use Mifos as independent stand-alone solution for both their portfolio and financial accounting needs (single solution vs. need for integration)
- Mifos ACC supports the following
- Input of general ledger transactions (non-portfolio transactions - at any level of the office hierarchy you can input cash and bank receipts/payments and the corresponding account they are going to or from (pulled from your chart of accounts)
- These could be expenses like rent, office supplies, etc.
- For adjustments, you can input "journal vouchers" which allow you to select both the debit and credit accounts to make the corresponding transaction.
- i.e. if you had made a cash payment into rent expense (credit cash, debit rent expense) that you wanted to reverse - you could go make a journal voucher in which you debit cash account and credit rent expense
- Viewing general ledger transactions
- Define Opening Balances - for each account in the chart of accounts, you can define it's opening balance and whether it's a debit or a credit balance.
- Processing Operational Data to FA
- This allows you to merge your operational data (all the Mifos portfolio transactions) with your Mifos-ACC transactions into the Financial Accounting Table
- Currently this is only supported by consolidation at the branch office level but could be customized for consolidation at any level of your office hierarchy
- You select the last processing date and the processing till date and then it will merge the transactions from mifos (consolidated at branch office level)
- You can then "View GL transactions" and see these merged transactions under denoted by the note, "MIS Processing"
- Simple financial reports will be included in Mifos-ACC soon.
Business Correspondents support in India
- Developing modules to support them - act as intermediary between the banks and customers
- any transactions made by business correspondent will need to go back to core banking solutions.
- convert business into being business correspondent - operate on behalf of bank or insurance company -
- MFIs are acting as business correspondents but still not targeting the unbanked - having new technology with mobile will reduce costs.