Generally, in the Cooperative Societies, most of the work is done on a general accounting software, and reports are maintained on Excel sheets. Maintaining cumbersome data of a cooperative society is not an easy task, and that is why, many times, general members allege the committee of financial malpractices. The company maintains society’s accounting data on an easily operable Tally software. The company creates the group and ledger per the Byelaws in a specific format, which is easy for general members of society to understand.

All the work from data entry to finalization of accounts is done periodically as per the Byelaws of the cooperative society. An internal audit is also done in two months, so that transactions and financial records are not left out. All periodical returns (GST, TDS, and Income Tax) for the society will be filed through a Chartered Accountant, and care will be taken that the returns filed are as per the schedule so that the society does not have to face penalties. Financial reports, like a monthly expenses sheet, an outstanding report, a cash & bank balance, final accounts, etc., are sent periodically to the Management Committee. To secure the society’s funds for contingency, different heads are created so that no management committee can use the major funds without the consent of the general body of the society.

Although the company provides both online and offline accounting services at the local level (in Surat), to expand its accounting services, the company has started online accounting for other cities as well, which will prove to be very beneficial for those societies who want proper accounting at a low cost.