How to use the savings account list.

Created by Judy Macharia, Modified on Thu, 21 Sep 2023 at 02:15 PM by Judy Macharia

A sacco staff member (with the appropriate user-role permissions) can view and use the savings account list by following these steps:

Click on the Filter by status dropdown to choose an option to filter the list by. The following options are available:

  • Pending - This means that the saving’s application is under evaluation and can be “Approved” or “Rejected” as the next step of the process, or it can be “Withdrawn” by the client.

  • Approved - Once the savings account application passes the evaluation, it changes to “Approved” state

  • Dormant - If no transactions (deposit, withdrawals or transfers) have been performed for a period of time the account changes to dormant state. Once the account status is changed to “Dormant”, no more interest is accrued on the account and no automated transactions are posted on it (interest, fees, transfers etc).

  • Active - Once the member makes any transaction (deposit, withdrawal or transfer) on the account -  it will become “Active”.

  • Rejected - If the deposit account application doesn’t pass the initial evaluation, it can be “Rejected”.

  • Withdrawn - If the client chooses to “withdraw” the savings application, it can be reflected in the system by the “Withdraw” status.

  • Closed - When the client wishes to close the savings account that has a zero balance, the account can be closed and will be stored under the client's profile as "Closed”.

  • Locked - In order to prevent any transactions from being performed on the account (deposits, withdrawals, transfers), you can lock it. The new state will be “Locked”.

  • Matured - Once the deposit account reaches maturity is will be stored in the system as “Matured”

  • In arrears - When a savings account with an overdraft has a negative balance after the overdraft expiry date or the overdraft limit is decreased below the current negative balance, Kwara will automatically change its state to "In Arrears" until the deposited amount can cover the overdraft balance.

  • Written off - When repayments are no longer expected on a savings account with an overdraft that is “In Arrears”, it can be closed and written off.

  • Once you choose a filter type, the savings account list will display the savings accounts that match the filter status.

  • You can then proceed and execute any actions on the account in question 

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