This module allows a user to buy and sell shares for a share holder. The buying and selling of shares takes place between the organisation, e.g., "Credit Union or Cooperative" and a shareholder . The Shareholder buys or sells from the Credit Union or Cooperative.
Note: 1. Before any share transactions can be made you need to set the current share value and the nominal share value. 2. The user needs to have activated the check box "Client can buy shares" under Clients/Individual Clients/Identification for clients to be able to buy shares 3. Shares bought for a group client are for the entire group not for group members.
How to buy shares for a client?
To buy shares for a client or member you go to Shares/Sales(buying and selling) and a screen like the one below shows up:
Account No.: Enter the client code or click on the Choose command button to select the client that is going to buy shares, e.g., "KA/I/00006".
Client Type: Select the client type from the available radio buttons, e.g., "Individual Clients" and click on the Next command button to display the shares dialog which will look as follows:
Shareholder Number: The client no.will automatically be displayed here and it will be read only.
Name: The client name will automatically be displayed here and it will be read only .
Transaction number: This number is automatically generated by Loan Performer and is unique for each transaction made.
Date: Enter the date on which a client is purchasing the shares, e.g., "01/01/2017".
Current share value: This read only field will be populated with the current share value as set under Register of Current Share Value, e.g., "15,000".
Note: The transaction is against the “current” share value, which may be different from the nominal value. The “current share value" refers to the prevailing market value of a share, this value may fluctuate. Ensure that the Nominal share value and the Current Share value have been entered. You cannot enter a transaction where the Shareholder buys shares from the savings account when they don't have enough balance on the account. This will be rejected.
Nominal value: This read only field will be populated with the nominal share value which should have been set atShares Configuration, e.g., "10,000".
Voucher: Enter the voucher number, e.g., "1230". (If required).
No. of Shares: Enter the number of shares that the client is buying, e.g., "20".
Value: This read only field will be populated with the value of shares that the client is purchasing.
Shareholder Buys: and check the member buys option button then click on the Save button.
Mode of payment: Select the mode of payment, e.g., "Cash", by ticking the appropriate radio button.
The scroll window at the bottom displays the transactions of the current member with the most recent transactions on top. The columns you see are: transaction code, transaction date, type (B = bought, S = sold), Number of Shares, Current Value, Total Transaction Amount, Total Number of Shares in possession of the member, the Current Value of the shares, the Voucher Number and the User who entered this transaction.
The Transfer from savings account option will bear the savings account number of the client selected.
Click on the Save command button to complete the shares purchase.
How a Shareholder sells shares
To sell shares for a client or member you go to Shares/Sales(buying and selling) and a screen like the one below shows up:
Account No.: Enter the client code or click on the Choose command button to select the client that is going to sell back shares, e.g., "KA/I/00006".
Client Type: Select the client type from the available radio buttons, e.g., "Individual Clients" and click on the Next command button to display the shares dialog which will look as follows:
Shareholder Number: The client no.will automatically be displayed here and it will be read only.
Name: The client name will automatically be displayed here and it will be read only .
Transaction number: This number is automatically generated by Loan Performer and is unique for each transaction made.
Date: Enter the date on which a client is purchasing the shares, e.g., "02/02/2017".
Current share value: This read only field will be populated with the current share value as set at Register of Current Share Value, e.g., "10,000".
Nominal value: This read only field will be populated with the nominal share value which should have been set atShares Configuration, e.g., "10,000".
Voucher: Enter the voucher number, e.g., "001". (If required).
No. of Shares: Enter the number of shares that the client is selling, e.g., "20".
Value: This read only field will be populated with the value of shares that the client is selling.
Member Sells: Check the member sells option.
Mode of payment: Select the mode of payment, e.g., "Cash", by ticking the appropriate radio button.
The Transfer from savings account option will bear the savings account number of the client selected.
Click on the Save command button to complete the shares sale.
You can view a report of the shares that were bought or sold in a particular period at Shares' Reports.
