Start with a shared agreement
A group can understand its money better when its purpose and each member’s commitments are written down. Discuss affordable contributions instead of relying on promises members cannot maintain.
- Record the contribution amount, schedule and how changes are agreed.
- Separate receiving money, keeping records and reviewing records.
- Agree how members join, leave and resolve disagreements.
Records everyone can understand
For each event, record the date, purpose, money received, money paid out and the balance. Match the record to supporting evidence and ask a second person to review it. Do not store member details on this website.
WORKED EXAMPLE
120,000 + 40,000 − 25,000 = 135,000 RWF
Example: opening balance of 120,000 RWF, new contributions of 40,000 RWF and payments of 25,000 RWF. The recorded balance is 135,000 RWF; compare it with the actual funds.
Questions for the SACCO
- Which kinds of groups can use the available services?
- Which group and representative documents are required?
- Who can authorise an operation, and how are representatives changed?
- How are account records obtained, and who may request them?
These are discussion questions, not an institution-approved list of requirements.