Client savings
Each Small Loans client has one savings balance. This page covers how money gets into it, how to take money out, and how to read the passbook.
Where to find a client's savings
You can open the same savings panel from two places:
- From the client: open Clients, select the client, then open the Savings tab.
- From a loan: open Small Loans > Loans, select the loan, then open the Savings tab. This shows the savings of the client who holds the loan.
If your organisation does not run Small Loans, the tab shows "Savings are available for small-loans clients." and there is nothing to record.
Reading the panel
The panel has three parts.
Savings balance. The large figure is the client's current savings. Underneath it you see Available (the amount free to use) and the client's savings account number.
Top up / Withdraw. A small form for recording money in or out (see below).
Passbook. The client's savings movements, newest first. Each line shows a description, the date, an In or Out tag, and the amount (green with a plus for money in, red with a minus for money out). If nothing has happened yet you see "No savings transactions yet."
Typical passbook descriptions:
| Description starts with | What happened |
|---|---|
| Opening savings deposit | The deposit captured when the client was registered |
| Savings from collection | The part of a loan repayment left over after penalties, interest and principal |
| Savings top-up, or your own note | A top-up recorded on this panel |
| Savings withdrawal, or your own note | A withdrawal recorded on this panel |
The passbook lists the 50 most recent movements. For a client's full history, use the client statement (see Savings on the client statement).
How money gets into savings
1. The opening deposit
When you register a client, enter the amount they hand over in Opening savings deposit. Whether this field appears on the client form depends on your organisation's settings.
- If the client is saved as active, the deposit goes into their savings straight away.
- If the client is saved as a draft, the deposit waits and goes in when the client is activated.
The deposit is only taken when the client is created. Editing the client later does not post it again.
Depending on your organisation's settings, the registration fee may be taken out of savings when the client is activated. In that case the opening deposit lands first and the fee comes out of it, and you see both lines in the passbook.
2. The savings part of a collection
When you record a loan collection, the payment is applied in this order: penalties, then interest, then principal, then savings. Anything left after the amount due goes into the client's savings and appears in the passbook as "Savings from collection ...". You do not need to do anything extra. See Small loans for recording collections.
3. Top up
Use this when a client brings money in just to save.
- Open the client's Savings tab.
- Make sure Top up is selected.
- Enter the Amount. It must be greater than 0.
- Optionally add a Note (optional). The note becomes the passbook description.
- Click Top up.
You see "Savings topped up", and the balance and passbook update.
Withdraw
- Open the client's Savings tab.
- Select Withdraw.
- Enter the Amount and, if you like, a Note (optional).
- Click Withdraw.
You see "Withdrawal recorded". If the amount is more than the client's savings balance, the withdrawal is refused with a message such as "Insufficient savings balance: have ..., requested ...", and nothing is recorded.
The panel does not stop you withdrawing savings while the client has a loan running. If your organisation's policy is that savings stay in place until a loan is repaid, check the client's Loans tab before you record a withdrawal.
Top-ups and withdrawals are recorded for today
The panel has no date field. A top-up or withdrawal is recorded with today's date.
Savings and loan applications
Depending on your organisation's settings, a client may need enough savings before they can apply for a loan, for example savings worth a set percentage of the amount they want to borrow. If the client does not have enough, the application is refused with a message that gives the largest loan their savings support. Top up the client's savings first, then submit the application again.
Savings on the client statement
The statement you download from the client's profile includes the client's savings movements. See Clients and groups.
Where it lands in the books
- A top-up or opening deposit increases cash and increases what the organisation owes its savers.
- A withdrawal reduces both.
- The savings part of a collection is booked together with the loan repayment.
Top-ups appear on the cash book as Savings contributions, and withdrawals as Savings payouts. See Cash management.