Accounts Reconciliation System for the Micro-Finance
Abstract
A Micro-finance customer repay loans by making deposits into the Micro-finance bank
account. The customers also receive loans via cheques which they cash at these hank
accounts. Efforts to verify the legitimacy of the bank account records have been ongoing in
these institutions for some time. Most institutions have adopted various methods and tools to
reconcile these records; at the forefront has been the bard copy report ticking technique, also
known as the manual bank reconciliation.
The high volume of transactions, a growing level of business complexay, constant errors with
the current methods, high costs of oiI-tbe shelve solutions and lack of uniformity in
requirements within the Micro-finance institutions are some of the factors under consideration
as these institutions search for appropriate reconciliation solution. Where some basic office
automation applications like Ms Excel are in use.• they lack controls, proper reporting and
appropriate presentations layout.
It is due to these challenges that a computerized system has been developed to attempt and
solve this problem. In keeping with the Micro-finance motto of 'Managing Cost', this system
has been developed using Ms Visual Basic 6J) for faster development time and inexpensive
support and Ms SQL Server 2000~ for affordability and enhanced security environment. This
project has considered all the forgoing aspects to deliver a reconciliation system that is
flexible yet consistent in easy to use yet coherent., and customizable to suite the
needs of most. Micro-finance institution in Kenya
Citation
Master of Information SystemsSponsorhip
University of NairobiPublisher
School of computing and informatics University of Nairobi