Books to be maintained by co-operative Society
Rule 39 of the DCS Rules, 2007 specifies Accounts and other books to be maintained by co-operative societies: – Every co-operative society shall keep and maintain the following books of accounts for the purpose of recording the business transacted by it, namely:-
(a) Minutes book for recording the proceedings of the general body,
Committee/any sub committee;
(b) Register of applications for membership containing the name and address of the applicant,
number of shares applied for, and in case of refusal, the date of communication of the
decision refusing application of the applicant;
(c) Membership Register, containing the date of membership, name of member, name of
father/husband, address of member, no. of shares purchased, name of the nominee with
relationship, date of cessation of membership, signature of the member and remarks. In
case of housing co-operative societies, the Bank account of the member and address of
the bank, the PAN, Electoral photo identity card (EPIC), certificate of gazetted officer
attesting signature and photograph of member and an affidavit as prescribed shall be
maintained by cooperative housing society;
(d) Share allotment register along with details of amount paid therefore;
(e) Cash book, showing daily receipts and expenditure, and the balance at the end of
each day;
(f) Receipt book, containing forms in duplicate, one of each set to be issued for
money received by the society and the other to serve as counterfoil;
(g) Voucher file, containing all vouchers for contingent expenditure incurred by the
society, numbered serially and filed chronologically;
(h) Ledger of borrowings, showing deposits and other borrowings of all kinds;
(i) In the case of societies issuing loans,
(i) Loan ledger, showing the number and date of disbursement of each loan
issued to member, the amount of loan, the purpose for which the loan is granted and
the date or dates of repayment, distinguishing principal and interest;
(ii) Liability/surety register showing the indebtedness of each member to the
society whether on account of loan taken directly by the member or on
account of loan for which the member stands as surety;
(j) In the case of a co-operative society, if the working capital exceeds twenty
thousand rupees, a general ledger showing receipts and disbursements and the
outstanding under various heads from day to day;
(k) In the case of a co-operative bank, a register of fluid resources showing the
immediate liabilities of the co-operative bank and the extent of fluid resources
available to which the Banking Regulation Act, 1949 (10 of 1949) applies according to
the instructions of the Reserve Bank of India;
(l) Monthly register of receipts and disbursements; and
(m) Register of dividend.
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nice information but i want to learn more in accounts regarding deposits,loans and advances and scheme allotted to members of the society …and oblige!
View CommentHello,
View CommentI want to handle co-operative society accounts and need to know all the information regarding the same, like, what do i need to learn, which accounting course/qualification is required, which accounting software to use and how to manage society accounts. Please advise.
Member in CHS has requested for copies of cash and bank book willing to pay the necessary charges, should the Managing Committee provide him with copies or only allow inspection of the same in the Society’s office. Kindly advice.
View CommentMy friend has a cooperative society registered in 2007. But since inception, she has not maintained any books or accounts. Now she wants everything from scratch. How to proceed further with it? She needs to show where has all the expenses incurred and what were the income and deposits. Kindly suggest…
View CommentA member of a cooperative credit society ltd repeatedly withdraw his membership with withdrawing all his deposits along with thrift fund and after expiry of a year or so he again applied to the society to readmit him.This has been a common practice. But this time he gave a declaration in written to the society that he will not apply to give him membership in future. But he again apply to the society for granting his re admission to the society as a member. The B.O.D. has refused to give him membership again. Is the B.O.D. has taken a wrong step? Is this chalengable?
View CommentHi! In my society, some members of managing Committee had resigned and there after general body meeting was called for filling vacant positions .
View CommentTo carry on work after 15 days that committe was also dissolved and adhoc committe came. After that elections occurred and new managing committe has formed. Now this managing Committee is asking for handing over documents from committe members who had resigned initially. Is it right because in between adhoc committe is formed. What should be done in this case
Dear Rahil, Every subsequent committee has to take over the records from the previous committee. However, whichever committee is having any records must hand over all the records in their possession to the present managing committee. If it not done, you have immediate option to get in touch with any or our Advocate to file a strong case against all the committees or persons who have still not handed over the records to the present managing committee.
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