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KOOPBOOK - The Cooperative Financial Solution

How was KOOPBOOK conceived?

History of cooperatives in the Philippines is replete with its rise and fall. One of the identified causes of cooperatives failure is in the accounting system (lack of competent bookkeeper, accounting principles and practices not consistently applied, recording of voluminous transactions not up-dated, inefficient reporting system, inaccurate financial reports, reporting not available on time, etc.). To address this basic concern, Manila Voice came up with a cooperative financial system, the KOOPBOOK, as one course to strengthen cooperatives, which are considered as important institutions for the basic sector of our society. Practicing Certified Public Accountants, Certified IT Professionals, and Project Development Experts who have been exposed to actual cooperative operations and management developed the system.


1. Developed in compliance with RA 6938, rules, regulations, circulars and memoranda of CDA, cooperative principles and practices, cooperatives administration and legal requirements, and with facility to install existing policies of the cooperative.

Forex 2. Patterned after the Cooperative Accounting Manual for Multi-Purpose Cooperatives developed by the Manualization Team of CDA and validated by PICPA, will enable cooperatives to come up with a coherent and reliable set of information needed by users of the financial reports, namely: members, prospective members, board of directors/officers, committee members, management, CDA, government and private institutions, creditors, etc.

3. Subscribed to the Standard Chart of Accounts (SCAs) prescribed by CDA to facilitate comparison of performance over time and across peers.

4. The system has installed cooperative accounting forms, which will serve as source documents for the generation of financial reports.

5. It can automatically compute Performance Standards set by CDA based on the financial statements to enable cooperatives to measure its performance against specific standards and benchmarks. This will also ensure the protection of cooperative members and the sustainability of cooperative operations. (Funds for the operations of cooperatives are mainly coming from members, its safety and soundness is very important).

6. The scope of the financial system starts from initial membership up to the computation of interest on share capital and patronage refund. All financial transactions are linked to the general accounting system, hence, adequate information of members' individual business with the cooperative and other financial transactions can be generated as of a given time and date.

7. It covers modules of accounting processes on: authorized capital stock, membership, receipts derived from other sources, deposits to the bank, loans to members, collections, disbursements other than loans (checks and on account), adjusting entries, and postings of system-generated entries to the appropriate Standard Chart of Accounts (SCAs).

8. It can automatically generate the required financial reports (statement of financial condition, statement of operations and cash flow statement) and related schedules. These reports are needed monthly, quarterly, and annually or as the need arises to serve as bases for planning, decision-making, policy-making, and budget preparation.


1. The system maintains general information on cooperative's members, provides summary of individual member's status of his/her accounts as of a given time and date (paid-up share capital, loan releases and collection thereof, loan balance, savings/time deposits, interest earned). The figures generated from the module will serve as bases for any action to be taken on loan applications by the Credit Committee or Board of Directors (if applicant is a credit committee member). It will also facilitate actions on savings withdrawals by the members.

2. It automatically computes loan proceeds based on user-defined loan product parameters with corresponding amortization schedule of loan repayment based on members' terms & mode of payment, and cooperative's policy on interest.

3. It has facilities to input partial or full payment in groups or members paying individually.

4. It can generate collection list per member-borrower or per group as of a specified collection period. It can also track amounts due (current and past) per member-borrower.

5. Membership Database

6. Electronic Loan Approval

7. Provision for On-Line


1. It has inputs on the following accounting data and forms:
1.1.Membership Data
1.2.Loan Application
1.3.Loan Promissory Note
1.4.Disbursement Voucher
1.5.Petty Cash Voucher
1.6.Canvass Sheet
1.7.Purchase Order
1.8.Purchase Requisition
1.10.Official Receipt
1.11.Journal Voucher
1.12.Cash Advance Liquidation
1.13.Petty Cash Replenishment

2. The system has accounting processes on:
2.1 Authorized Capital Stock
2.2. Membership
2.3. Receipts
2.4. Deposits to the bank
2.5. Loans to members
2.6. Savings and Time Deposits
2.7. Disbursements other than loans (checks and on account)
2.8. Adjusting/Correcting and Closing Entries
2.9. Posting of system-generated entries to SCAs

3. Reporting
3.1. Cash Flow Statement
3.2. Statement of Financial Condition
3.3. Statement of Operations
3.4. Related schedules

4. Performance Standards


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