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Savings Club goals

A goal is a savings plan for one client: what they are saving for, how much they want to reach, and how much they plan to pay in each day, week or month.

note

The Savings Club only appears in the left-hand menu if your organisation has the Savings Club product switched on. If you cannot see it, your organisation does not use it.

The Savings Club overview​

Open Savings Club > Overview. The page shows:

  • Total Savings - the total balance of all active goals. Money still held in a completed goal that has not yet been paid out is not included in this figure.
  • Active Goals - goals still being saved towards.
  • Contributions This Month - money paid in so far this calendar month.
  • Completed Goals - goals that have reached their target or been fully paid out.
  • Goals by Status - a chart of goals opened each month over the last six months, split by their current status.
  • Contribution Trend - total contributions per month over the last six months.

Under Quick Links, Savings Goals opens the goal list and Contributions opens the contributions list.

The goal list​

Open Savings Club > Goals. Each row shows the Goal Name, the Target, the Current balance, a Progress bar with a percentage, the Frequency, the Status and the Target Date.

  • Use the Status filter to show All Statuses, Active, Completed or Cancelled goals.
  • The list shows up to 20 goals for the chosen filter.
  • Click the eye icon in the Actions column to open a goal.

Goal statuses​

StatusMeaning
ActiveThe client is still saving. Contributions can be recorded.
CompletedThe balance has reached the target, or the goal has been paid out to zero. No more contributions can be recorded.
CancelledThe goal is closed.

A goal moves to Completed automatically. There is no button to complete, pause or cancel a goal by hand.

Create a goal​

  1. Open Savings Club > Goals and click New Goal.
  2. Client - start typing the client's name or phone number and pick them from the list.
  3. Group (optional) - pick the client's group if you want the goal linked to it.
  4. Goal Name - what the client is saving for, for example "School Fees" (up to 100 characters).
  5. Goal Amount - the target. Must be more than 0.
  6. Contribution Frequency - Daily, Weekly or Monthly.
  7. Contribution Amount - how much the client plans to pay each time. Must be more than 0.
  8. Start Date - defaults to today.
  9. Target Date (optional) - the date the client hopes to finish.
  10. Click Save Goal.

You see "Savings goal ... created successfully" and return to the goal list. If something is wrong, the form shows the reason next to the field or at the top of the form, and keeps what you typed.

caution

Client names are not unique. When you pick the client, check the phone number shown next to the name so you open the goal for the right person.

Depending on your organisation's settings, an enrolment fee may be charged to the client when the goal is created.

Goal Projection​

While you fill in the form, the Goal Projection panel on the right estimates the Estimated Completion date, the Number of Contributions, the Total Interest Earned, the Total Deposits and the Target Amount. It updates as you change the amount, contribution or frequency.

Treat this as a rough guide for the conversation with the client. It uses a fixed example interest rate, not your organisation's actual rate, and it counts from today rather than from the start date.

Open a goal​

Click the eye icon on a goal to see its detail page:

  • The goal name, its status, and a progress bar.
  • Goal Amount, Current Balance, Remaining (how much is left to reach the target) and Interest Earned.
  • Goal Information - Client, Group (if set), Contribution Frequency, Contribution Amount, Total Contributions, Start Date, Target Date, Completion Date (once completed) and Created At.
  • Contribution History - the most recent contributions (up to 20) recorded against this goal, with the Date, Amount, Interest Earned, Recorded By and Synced.
  • Request Payout - appears when the goal is Active or Completed and has money in it. See Payouts and interest.

Click Back to Goals to return to the list.

Changing a goal​

Goals cannot be edited after they are created. If a goal was set up with the wrong details, speak to your administrator.