Use factoHR’s Benevolent Fund Trust to manage the members of the trust and carry out the transactions instantly.
Member wise contribution for all scheme configured can be uploaded with having auto accounting JV.Contribution will be tracked against each employee and separate reconciliation report will be available with list of active members for whom contribution is not received.
Member wise premium file can be uploaded by the user in the system. Based on this file, system will create a report with following details to be used for RTGS to Insurance angency (index no /postal address/e mail ID/mobile no/ Bank account details like account no ,bank name ,IFSC code ,branch code).
Also you can capture and maintain records for amount received from insurance company for mediclaim application received from members.
In case of mediclaim, Index number as provided by Insurance company will be maintained by the system and all application for mediclaim will be captured memberwise with reference to Index number.
When amount is received of Insurance, Bank receipt entry will be passed and tracked against member application and index number of the member.
When amount is paid to member, bank payament entry will be passed and tracked against member application and index number of the member.
In case of death claim, Application will be created by the user in the system and further receipt from LIC and payment to nominees will be tracked against the application.
Make your accounting experience easy by processing all types of transactions efficiently which will helps you to generate all accounting reports for finalization and to do audit in timely manner.
Investment management becomes easy with the help factoHR benevolent fund management software.