Tally ERP 9 as a product is primarily used for accounting, inventory and statutory compliances and is capable of meeting your business needs, as is However due to the unique nature of the processes and contexts, each business has its own specific needs This can be effectively addressed by solutions built on Tally ERP 9
Our custom built solution contain wide ranging features to handle all aspects of Nidhi Companies.
We’ve customized Tally ERP 9 to meet the specific requirements of Nidhi Companies, so that it can really fit into your needs
One of the major activity for any Nidhi company is to collect and manage the deposits from its members.
Our solution caters to the needs of following types of Deposits:
Saving Deposit (SD)
Recurring Deposit (RD)
Fixed Deposit (FD)
Cumulative Deposit / Cash Certificate (CC)
Account Opening
Installment Collections (RD)
Accept Deposits Cash / Cheque / Adjustments
Maturity Payments (FD & CC)
Pre Closure Payments
Interest Payments
Account interest on accrual basis
Settlement process
Account renewal
Maturity notice
In operative account handling
List of deposit accounts as on date and on previous months (SD,RD)
Ledger printing for selected / all accounts for selected Period (SD,RD)
List of standing instructions affecting the accounts (SD,RD)
Interest paid and accrued on the Deposit Account wise / All the accounts for selected period selected
Printing of Certificates / Interest warrants (FD,CC)
Maturity list of deposit accounts for the selected period
List of accounts matured as on date
Account wise defaulters details with ageing options (RD)
Notice of Maturity (FD, CC)
Address label printing for group customers
Other major activity in any Nidhi company is to issue and manage the loans to its members.
Our solution caters to the needs of following types of Loans:
Mortgage Loan (Registered, Unregistered)
Jewel Loan
Simple Loan (Against RD, FD, CC)
Employee Loan
Loan Sanction and disbursal
Dues Collection (Principal, Interest, Penal Interest, Liquidated damages & reimbursable expenses)
Loan Closure
Loan Pre Closure
Loan renewal
Interest Calculation sheet for selected account for selected period
Account wise outstanding report
Interest paid and accrued on the Loan Account wise / All the accounts for selected period
Address Label for Loan Account Group Customers
Loan Account wise Defaulter details with ageing options
Loan till date with Security (for Simple and Employee Loans)
Loan till date with value and weight (Jewel loan)
Account wise over due of installments (Jewel loan)
Due dates for each account (Jewel loan)
List of Loan account due for settlement, Date Wise and Period Wise (Jewel Loan)
Penalty Interest on overdue Installment (Jewel loan)
Booking of interest on Overdue installment (Jewel loan)
Share ( Management form another major activity in any Nidhi company
Our solution caters the following features for managing these activities
Allot Shares Cash Cheque Receipt
Share Member Registry
Share Transfer
Dividend Payment and account
Share Cancellation Forfeiture
Loan till date with Security (for Simple and Employee Loans)
Loan till date with value and weight (Jewel loan)
Account wise over due of installments (Jewel loan)
Due dates for each account (Jewel loan)
List of Loan account due for settlement, Date Wise and Period Wise (Jewel Loan)
Penalty Interest on overdue Installment (Jewel loan)
Booking of interest on Overdue installment (Jewel loan)
Apart from the above major functionalities, our solutions provides the following general features for handling the operations efficiently in any Nidhi company
Create Rate master for Deposits/ Loans Scheme wise with effective date and option to close a scheme
Receipts Deposit Receipts, Receipt Acknowledgement, Printing and recovery
Payments Payments in Cash/Cheque/Adjustments against deposit maturity/dividend
Linking of folio/ member with Deposits and loans
Day end operation to apply standing instructions, crediting interest dues
Month end operation for interest on accrual basis adjustment of due account, identification of inoperative account
Projected interest for a financial year for a member
Rounding off of interest calculation
Daily Reports For Deposit Collection Payments