Mifos user manual

Mifos: HowToCreateANewSavingsAccount

How to create a new savings account

The following are necessary for you to create a savings account:

If the savings account is for a client or group, the client and/or group must be in Approved state.
If the savings account is for a center, the center must be Active.

Note: You may not delete savings accounts.

You can create a new account from several places in Mifos. One way is to navigate to the details page for that client, group, or center. You can do this by searching for the client, group, or center from the Search on the Home screen or navigating to the details page directly

From the Home screen search function

From the Clients & Accounts main panel (click a Branch Office from the list on the right to narrow down the search for the customer) Continue to click on the Loan Officer, then finding the client, group, or center to create a savings account for.
If you are creating a savings account for a client, navigate to the client details page. A screen shows details about this client's information and history with your MFI. In the Account Information section, find the Open new account line and click the Savings link.

Another way to create savings accounts is from the quick links in Mifos.

From the Quick Start left navigation list (click Open New Savings Account)
From the Clients & Accounts left navigation panel (click Create Savings Account)

All these methods ask for the name, system ID, or account number for a center, group, or client. When you type this information and click Search, you see a list of all possible choices for your search information. Click the correct one, or (if you don't see the customer you were expecting) try retyping the search information carefully and then click Search again.

Once you have selected the customer you are creating the account for, the procedure is the same.

The following screen appears:
In the Savings Product Name list, click the type of account you want to create, and click Continue. A screen appears summarizing the terms of the savings product. For information on these terms, see "How to define and change new savings products"
Review the terms. If you are satisfied, click Preview.
If you want to change anything about this savings account, click Edit Savings Account Information, make changes, and click Preview again.
When you are satisfied with all details, click Submit for Approval (or, if you want to submit this account later, Save for Later). (If you decide not to create a savings account at all at this time, click Cancel.)

How to approve a savings account

When an application for a savings account is made, the account appears in the Account Information section of the client or group dashboard with a yellow circle, as in the following screen:

mifospendingaccount

To approve the account, click the link for the account.
Click Edit Account Status.
The following screen appears:
Click Partial Application, Active (approved), or Cancel (not approved).
If you click Cancel, click a reason for our action from the list that appears. (You might reject the application, or the client might withdraw the request.)
In the Notes box, type any information about your reasons for approving, delaying, or not approving the savings account.
Click Preview to review your work.
If you want to make any changes, click Edit Status, make the changes, and click Preview again.
When you are satisfied with the change in status, click Submit.

The savings account "dashboard"

The savings account details page ("dashboard") shows the detailed transactions and functions related to savings accounts. It includes the account status, the recent activity status, and transaction tracking details.

To view the dashboard, in any Search box, type the account number for the savings account. You can also type the client or group name and click the account link from the details page for that client or group.

The screen might look like the following:
mifossavingsdash

The dashboard might include the following items:

Category	Description
Savings account header	Savings account number, current status, balance, and amount due at next meeting (if account is mandatory)
Recent Activity	A list of transactions that have taken place with regard to the account.
Account Details	Shows the savings account details, which include recommended or mandatory amount for deposit, type of deposit, maximum amount allowed per withdrawal, and interest rate.
More account and transaction details	Shows the status history, change log, and change history for the loan account.
Transactions	Provides the links to making a deposit, withdrawal, or adjustment, or closing the savings account.
Performance history	Show various account performance indicators, such as total deposits, withdrawals, and interest.
Recent Notes	Shows the three most recent notes appended to the account, with additional links to add a new note or view all the notes.