Benevolent Fund Trust
A benevolent fund supports members and their families through periods of hardship that can arise for reasons outside their control.
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factoHR Retirement Benefit Platform also offers below list of modules
Multiple Scheme Configuration
Configure multiple schemes for Benevolent fund trusts like Medical Assistant or Death Benefit as per your requirement.
Scheme Wise Monthly Contribution
Upload member-wise contributions for all configured schemes and download a reconciliation report to check if the contribution is received or not.
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Premium Payment And Claim Amount
factoHR allows you to upload and store information of member-wise premium amount paid and insurance claim amount received, and generate up-to-date reports for the same.
Claim Application/Settlement
The insurance claim made by the member will be tracked against the index number. When the insurance company receives the claim amount, a bank receipt entry will be passed through the system. Similarly, a bank payment entry will be passed and tracked when the member receives the amount.
Ease Of Accounting
factoHR’s real-time, integrated, and centralized accounting, two-eye approvals, auto JV posting, and ready-to-file reports minimize all your accounting challenges.
Bank Receipt/Payment
Bank Reconciliation
Contra
Journal
Ledger & Voucher Report
Balance Sheet
Revenue Account
Investment Management
Using our all-in-one investment management, perform evaluation, mark to market valuation, manage all types of security and improve the ROI of your trust’s investment.
