Benevolent trust

Benevolent fund is there to support members and their families through period of hardship that can arise for reasons outside their control. Such as serious illness,family problems or prolonged period out of work.

Benevolent fund is there to help during those difficult circumstances. And factoHR application helps to manage funds collected for these purposes.

Benevolent Trust

Benevolent Trust

Multiple Scheme Configuration


You can configure multiple schemes available for different purpose like Medical Assistant scheme or death benefit scheme etc.

Scheme Wise Monthly Contribution


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.

Benevolent Trust

Benevolent Trust

Premium payment and claim amount receipt from insurance company


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.

Claim Application/Settlement


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.

Benevolent Trust

Benevolent Trust

Ease of accounting


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.

Bank Receipt/Payment

Facility to process various bank receipts and payment transactions wit minimum manual working.

Bank Reconciliation

Do bank reconciliation process on day to day basis to identify if any mistake done in book keeping.

Contra

Processing multiple interest bank transfer entries becomes easy with contra entry option.

Journal

Process various journal entries with this module. Also get details of various auto entries passed like for monthly contribution, accrued interest, amortization etc.

Ledger Report

Ledger report generation as per your requirement is possible with this module.

Voucher report

Facility to generate all voucher based on voucher type, voucher no in bulk.

Trial balance

Availability of multi level trail balance any time for account finalization.

Revenue Account

Makes you alert by generating revenue statement that provides details of profit or loss on real time basis.

Balance sheet

Generate trust balance-sheet on real time basis as per your format.

Investment management


Investment management becomes easy with the help factoHR benevolent fund management software.

Investment Evaluation/Purchase

Investment evaluation module helps you to analyse multiple securities before purchase. You can also process investment purchase transaction once security is purchased.

Benevolent Trust

Mutual Fund / Equity Purchase

Process equity and mutual fund purchase transactions easily.

Interest Accrued

Generate Investment wise accrued interest report quickly for all type of investments along with option available to post accrued interest JV automatically.

Investment Yield

Generate investment yield report just in a single click for your overall portfolio.

Interest Summary

You can generate interest summary report that contains details like interest received date, amount, voucher no, coupon amount etc. Also you will get details if interest is not received or received more or less.

Investment Amortization

Avoid human errors occurred in excel working by using system generated investment amortization calculation in single click.

Investment register

You will get details investment register which gives details of pattern wise opening investment, current year purchase, matured investment during the year and closing investments as on date.

Investment Summary

Generate investment summary report in summary format to check overall investment holding.

Mutual Fund / Equity Management

Manage Mutual fund and equity investment effectively with the help of this module.

Mark to Market Facility

Take timely decisions by calculating mark to market profit or loss any time by capturing as on date NAV.

Get started with factoHR today