- Enter the winning auction bid once — foreman commission, total discount, per-member dividend, and net payable installment are calculated automatically.
- Track prized vs non-prized subscribers, vacant tickets, and surety/guarantor documents in one central system.
- Daily field agent collection reconciliation and automated overdue reminders keep group realization above 95%.
1. Automating Monthly Chit Auctions & Dividend Math
For registered chit fund companies and foremen, auction day requires 100% mathematical precision. When managing 15 to 50 active chit groups of varying values (₹1 Lakh to ₹50 Lakh) and durations (20 to 50 months), manual calculation of auction discount, foreman commission, and per-ticket dividend takes hours.
2. Subscriber Ledgers, Field Agent Collections & Defaulter Lists
Field collection agents collect cash, cheques, and UPI payments daily. With KATS Chit Fund ERP, every receipt updates the subscriber's ticket ledger instantly, separates prized vs non-prized defaulters, and gives management a real-time agent-wise collection summary at the end of the day.
3. Prize Money Disbursement, Guarantor Surety & Accounting
Before releasing prize money to a winning bidder, track all required KYC, guarantor sureties (ensuring the same member hasn't over-guaranteed across multiple groups), GST on foreman commission, and bank payment vouchers in one integrated accounting system.
Frequently Asked Questions
Does the software calculate monthly dividend and net installment automatically?
Yes. Once you enter the winning auction bid (discount), the software deducts the foreman commission and distributes the dividend equally across all group tickets automatically.
Can we track field agent collections and pending dues?
Yes. You can record collections agent-wise, print receipts, and view real-time due lists and defaulter reports for both prized and non-prized members.
Does it check guarantor / surety limits before prize payment?
Yes. The system maintains complete KYC and surety records so you can see if a subscriber has already stood as guarantor in other active groups.
