28 April

Bago: Proper Recording Towards a Trustworthy and Sustainable Cooperative

  • Date : Monday April 28, 2014
  • Venue : Bago Division

“We have to record accurately and in a timely manner all financial transactions with members because, in the case of their savings, we have to return the money back to them, and in the case of loans, we have to collect from them.” Thus, ACCU CEO Ranjith Hettiarachchi, the seminar-workshop facilitator, summed up the rationale of the two-day Account and Records Seminar held last April 28 and 29, 2014 in Division Cooperative Federation Office, Bago Division, Myanmar.

A total of thirty-five community leaders and thana officers participated in the seminar-workshop representing ten
townships from Bago Division.

U Soe Myint, Vice-Chairperson of Bago Cooperative Federation warmly welcomed all the participants and extended
his appreciation and gratitude to ACCU and CCS for organizing this kind of seminar-workshop on proper recording which he said is key for transparent and trustworthy cooperatives.

Apart from the progress review on what the community leaders have done after the Promoters Seminar, the Accounts and Review Seminar imparted knowledge to the participants on the following: Introduction to the nature of accounts transaction on Savings and Credit Cooperative, Basic Accounting Policy, Registration Process, Monthly Summary Report Format, Business Plan and Action Plan.

To build participants’ skills on recording of transactions, practice set were distributed and individual exercises were done on identification whether a transaction is a Receipt or a Payment, proper issuance of Receipt Voucher and Payment Voucher, proper posting of the transaction to the individual member’s Passbook, Cash Receipts Book, Cash Disbursements Book and General Ledger.

ACCU in partnership with CCS embarks on a Project on Building Sustainable Savings and Credit Cooperatives in Myanmar. The project aims to organize 25 SCCs in three with 50,000 members half of whom are women and in rural areas.

The Accounts and Records Seminar allocates a portion of the total training time spread over the whole two-day duration sharing videos and experiences of successful SCCs in Asia. This was part of the motivational nature of the training programs to be conducted by the Project in the first few months.

The participants, upon returning to their villages will start the savings mobilization program and implement proper recording since they got to bring with them an initial 150 passbooks, 3 booklets Receipt Voucher, Cash Receipts Book, Cash Disbursement Book and General Ledger.

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