Friday 6 January 2017

CHIT FUND ACCOUNTING IN EXCEL

Chit funds is a way of circulating money between its members. The chit funds will come under NBFC (Non Banking Financial Services) and are regulated by Chit Fund Act,1982.
Chit means a transaction which a person enters into an agreement with a specified of persons that every one of them shall subscribe a certain sum of money by way of periodical installments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender as may be specified in the chit agreement, be entitled to the prize amount.
You can view the Chit Fund Act,1982 here:The Chit Funds Act,1982
The example of chit fund, amounts payable as each installment,Applicable framework for preparation of Financial Statements of Chit Fund Company as per Chit Fund Act,1982.
Please leave a comment if there are any corrections need to be done.
Posted by at

10 comments:

  1. Mazechit28 June 2018 at 00:31

    Great Article Chit Funds Accounting. Also I would like to tell you that we have a software to help and manage chit funds.An All-in-one Chit Fund Software to manage your chits, accounting,receipts, Leads, subscribers with advanced reporting. Avail free demo now - https://www.mazenettech.in/maze-chit.php

    ReplyDelete
  2. Unknown26 July 2018 at 21:52

    Hi Rajeev

    Thank you for your Great work.
    i have some clarification regarding above excel Can you please Give your mail id ?

    ReplyDelete
  3. Unknown26 July 2018 at 21:53

    Sathishob@gmail.com

    Its my Email ID .

    ReplyDelete
  4. Mazechit17 January 2019 at 02:26

    Mazechit is a simple smart software which keeps the bureaus and their customers in constant connection with transparent communications about accounting process, chit registration, group formation, auction process, collection, sending the receipt details, etc.

    For details - https://mazenettech.in/mazechit/contact.php or Call us: +91 7397723052

    ReplyDelete
  5. Santhosh Kumar11 February 2019 at 05:28

    It is Completely Online ( Web Based ) Software, using high quality latest .net version.
    Mainataining high secured/server backup system softwares.
    Leading Single & Multiple branches for single/multiple customers at a time.
    It has to execute double auction, normal & fixed bidding.
    SMS option will be provided for sending individual or group members.
    Free software server for one year, after one year will be charged 12 thousand rupees + gst charges per every year.

    For more details :- http://websoftex.com/development/chitfund-software.php>

    ReplyDelete
  6. Isewariya Ramachandran2 April 2019 at 00:29

    This comment has been removed by the author.

    ReplyDelete
  7. Isewariya Ramachandran6 August 2019 at 23:54

    This comment has been removed by the author.

    ReplyDelete
  8. santhosh kumar6 March 2020 at 02:35

    Chit Fund software is a web based application for Chit Fund Companies. This software handles all the activities that are being carried out by the chits.Entirely this is efficient for all organization those organize chits.Websoftex are providing Chit fund Softwares, Best quality Chit fund Live Demo and also will send Demo Links.
    To schedule Free Demo contact @ 9765988588 / 9886461360
    For more info visit : Websoftex Chit Fund Software .

    ReplyDelete
  9. Anonymous2 February 2022 at 23:29

    5 youtube channel related sites like youtube, youtube
    5 YouTube channel related sites like youtube, youtube, youtube, youtube, youtube, youtube, youtube, youtube, download youtube videos to mp3 youtube, youtube, youtube, youtube, youtube, youtube, youtube

    ReplyDelete

Subscribe to: Post Comments (Atom)