AscendryxProduct
CoopKit
Cooperative management for Philippine cooperatives. Membership, share capital, the year-end allocation of net surplus, and the lending and collections that fund it, all in one ledger.
The problem
The loans are in a system. The cooperative is not.
Most cooperatives run their lending on something. The cooperative side lives somewhere else: share capital in a notebook, capital build-up in a spreadsheet, and the allocation of net surplus computed by hand in the week before the general assembly.
Share capital nobody can total
A member asks what they have paid in. Someone opens a ledger book, adds it up, and hopes it matches the balance sheet. CoopKit keeps every movement with its date, so the answer is on screen and the total always ties to the books.
Year end done by hand
Net surplus, the statutory funds, dividends and patronage refund, all computed in a spreadsheet under time pressure, then defended at the assembly. Here it is one calculation from the ledger, with every member's figure traceable to the records behind it.
Two sets of books
When the loan system and the cooperative's own accounts are separate, somebody reconciles them every month, and patronage refund becomes a number that was typed in rather than one that was earned. CoopKit uses a single ledger, so it cannot drift.
What is inside
The cooperative, end to end
Membership register
Regular and associate members, date admitted and the board resolution that admitted them, membership status, and whether the pre-membership education seminar has been completed. Every member carries their own membership number alongside their loan and savings records.
Share capital that holds up
Common and preferred shares, subscribed against paid up, with the subscription receivable shown separately exactly as the CDA statements present it. Every payment, transfer and adjustment is recorded with its own date, so a member's passbook and the cooperative's balance sheet are the same data.
Capital build-up collected automatically
Set an amount per loan payment and it is collected with every amortisation, straight into the member's share capital. No second transaction, no separate ledger, no collector holding two receipts. The same mechanism can feed savings instead when that is what the cooperative wants.
Allocation of net surplus
Net surplus is taken from the general ledger, not typed in. The Reserve Fund, Education and Training Fund, Community Development Fund and Optional Fund are applied within the floors and ceilings set by Article 86 of RA 9520, and the system refuses a split that falls outside them. The federation's half of the education fund is separated on its own.
Interest on share capital and patronage refund
Interest on share capital is computed on each member's average capital held across the year, weighted by the days they held it, so a member who paid in July does not receive the same as one who paid in January. Patronage refund is computed from the interest each member actually paid, drawn from the payment records themselves.
Board and general assembly approval
An allocation is a draft until the board approves it, and stays a draft until the general assembly approves it after that. Only then can it be posted, and posting is one irreversible action with the resolution numbers and approvers recorded against it.
Statutory funds you can account for
Each fund carries its own running balance and its own history: what was set aside at year end, what has since been spent on training or a community project, and what has been remitted to the federation. When the CDA asks how the education fund was used, the answer is a report, not a search.
Accounts in CDA form
The chart of accounts follows CDA Memorandum Circular 2022-24, using the CDA's own account codes and titles. The Statement of Financial Condition and the Statement of Operation come out in the Annex A and Annex B layout your bookkeeper already knows, with the allocation of net surplus shown beneath.
Allowance for probable losses
Portfolio at risk is measured on the outstanding balance of every loan carrying a missed payment, then provisioned at 35 per cent for loans one to twelve months past due and 100 per cent beyond twelve months. Run it as often as you like: it books the difference, never the same provision twice.
Member passbook
Opening balance, every movement with its date and receipt number, closing balance, the average capital held, and the interest and patronage received with the rate used for each. It is the document a member asks for at the assembly, produced in a click.
Reportorial requirements
The Cooperative Annual Performance Report, audited financial statements, the performance and social audit reports, the list of officers and trainings attended, and the mediation and conciliation report, each assembled from the records already in the system rather than retyped from them.
Governance on the record
General assembly and board meetings, the committees, attendance, and the resolutions that come out of them. The resolution that admitted a member or approved an allocation is linked to the thing it approved, so the audit trail reads in one direction.
Members see their own account
A member signs in and sees their share capital, what they have paid against their subscription, their savings, their loan balance, and what they received at the last allocation with the rate used. Fewer calls to the office, and nothing for anyone to take on trust.
The lending side
Already running, already proven
CoopKit is not a cooperative ledger with lending bolted on. The lending and collections underneath it are the same system Philippine lenders use every day, and they are what most cooperatives actually spend their week on.
Weekly collection, done properly
Daily, weekly, twice monthly and monthly amortisation, with interest, penalties and caps computed on the same rules for every member. Schedules are generated at release and never recomputed by hand.
Field collectors who work offline
Collectors record payments on their phone with no signal and the records sync when they are back in range. Cash is turned over and confirmed by the office, then matched to the bank deposit, so money is accounted for at every step.
Branches, savings and the member portal
Multiple branches with their own books and transfers between them, member savings and deposits with interest, and a portal where members check their own balances without phoning the office.
How we work with your bookkeeper
Your accountant signs the filing, not us
Software does not make a cooperative compliant. Your books, your bookkeeper and your CDA-accredited external auditor do. What CoopKit does is make sure the numbers they are working from came out of the ledger rather than out of a spreadsheet.
Built on the published rules
The account codes and titles come from CDA Memorandum Circular 2022-24. The allocation of net surplus follows Article 86 of RA 9520, including the higher Reserve Fund floor that applies in a cooperative's first five years. Where the circular leaves a judgement to the bookkeeper, we leave it to the bookkeeper and say so on screen.
Every figure is traceable
A member's patronage refund traces back to the payments they made. Their interest on share capital traces back to dated movements in their own capital account. When a figure is questioned at the general assembly, you can show where it came from instead of defending a spreadsheet.
Getting started
We move your records in
Members, share capital balances, loans and payment history are migrated from whatever you use now, including spreadsheets and ledger books. We set up your chart of accounts, your par value and your fiscal year, and train the officers who will use it.