Books to be maintained by co-operative Society

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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