The department handles matters of planning for and promoting corporate finance business and consulting assistance to operating branches.
Planning and formulation of accounting systems, budgets, statistics and bank wide accounts and interest matters, including management of the Central Data Processing Unit.
Specific Duties and responsibilities of this department:
- Controlling all society cash transactions.
- Preparing monthly and quarterly economic performance report for the Sacco.
- Preparing Sacco’s final accounts including cash flow statement and branch accounts.
- Preparing the Annual society budget with assistance of the budget committee.
- Prepare all statutory reports of the Sacco including Tax administration.
- Compiling all society daily financial transactions and summarizing all the work done in other departments/sections.
- Liaising with treasury in reconciliation of the transactions between the Bosa and Fosa.
- Preparing bank reconciliations.
- Recording of accounts transactions from source documents.
- Computing capitalized interest monthly and forwarding it for action.
- Counter-checking loan approvals and booking the same on relevant documents.
- Counter signing cheques.
- Keeping insider MPA records updated accordingly.
- Ensuring that refund of erroneous deductions is properly computed.
- Reconciling the by-products against the cheques or credits received.
- Ensuring MPA accounts are properly updated and assessing any defaulting of loans monthly for all MPAs.
- Ensuring members’ statement requests are promptly processed.
- Reconciling employer by-products with system generated reports.
- Receiving and recording members’ cheques regarding loan clearance to the MPA.
- Posting of members transactions as per the employer by-products to MPAs.
- Attending to members’ individual c
- Controlling all society cash transactions.
- Preparing monthly and quarterly economic performance report for the Sacco.
- Preparing Sacco’s final accounts including cash flow statement and branch accounts.
- Preparing the Annual society budget with assistance of the budget committee.
- Prepare all statutory reports of the Sacco including Tax administration.
- Compiling all society daily financial transactions and summarizing all the work done in other departments/sections.
- Liaising with treasury in reconciliation of the transactions between the Bosa and Fosa.
- Preparing bank reconciliations.
- Recording of accounts transactions from source documents.
- Computing capitalized interest monthly and forwarding it for action.
- Counter-checking loan approvals and booking the same on relevant documents.
- Counter signing cheques.
- Keeping insider MPA records updated accordingly.
- Ensuring that refund of erroneous deductions is properly computed.
- Reconciling the by-products against the cheques or credits received.
- Ensuring MPA accounts are properly updated and assessing any defaulting of loans monthly for all MPAs.
- Ensuring members’ statement requests are promptly processed.
- Reconciling employer by-products with system generated reports.
- Receiving and recording members’ cheques regarding loan clearance to the MPA.
- Posting of members transactions as per the employer by-products to MPAs.
- Attending to members’ individual complaints as may be necessary.
- Updating MPA and general ledger.
- Attending to members’ queries relating to accounts and ensure safe custody of all members’ records
- Receipts and posts standing orders for loan deductions and share contribution
- Reconciling members’ statements
- omplaints as may be necessary.
- Updating MPA and general ledger.
- Attending to members’ queries relating to accounts and ensure safe custody of all members’ records
- Receipts and posts standing orders for loan deductions and share contribution
- Reconciling members’ statements