Chamasoft vs Openfloat

Chamasoft is a book keeping tool for Investment Groups ( Chama ), commonly known as Chamas. Chamasoft automates the operations of these groups, eliminating the need for complex Excel sheets and bulky write up, thereby making the work of financial book keeping within the group easier. It achieves this in the following way: 1. It automates member invoicing, 2. Keeps an updated statement for each member, 3. Members can login to view their financial position within the group, 4. Reminds members to make payments, stores group data on the cloud (available 24/7 anywhere in the world) and 5. A cash book module for use by the Treasurer. FEATURES: - Chamasoft E-Wallet Chamasoft provides an online E-Wallet that chamas can use to manage their finances by making payments via M-Pesa and withdrawals to M-Pesa or any bank account. - Financial Management Chamasoft acts as an online treasurer. All one does is record payments and Chamasoft reconciles the records. - Membership Management Chamasoft allows one to register all members on the system where they access to their chama records online. - Bank Account Management Chamasoft records withdrawals, transfers and deposits that are performed on the bank accounts. - Expense Management Chamasoft allows users to track expenses as they occur, be it for land purchases or payments for services. - Project Management One can track projects e.g. Expenses regarding purchase of land, and the contributions needed to carry out the project. - Loan Management For chamas that do internal lending, Chamasoft provides a platform for recording these loans. - Financial Reports Chamasoft generates the following reports; Member Statements, Loan Summaries, Expense Summary and Transaction Statements. - One Time Penalty Management One can penalise members for issues such a late coming and this will be reflected on the members' statement. CHAMASOFT Focus on your Group Investments (chama, sacco) as we handle your group financial administration. Do not wait — Download and automate your group, chama or sacco now!

Openfloat is a business solution that digitises Petty Cash, Payroll, and Corporate Bills Payments. You can Disburse Funds, Pay Bills, and Buy Airtime in Bulk — all in one place. Note: To use this app, please ensure you already have an Openfloat account.