How to make transactions for a savings account

How to make deposits to or withdrawals from a savings account

  1. Click Make Deposit/Withdrawal.
    A screen like the following appears:
  2. Enter information using the decriptions in the following table:




Date of Transaction

The date of this deposit or withdrawal


Payment Type

Deposit or withdrawal


Enter Amount

The amount of deposit or withdrawal


Mode of Payment

The way the money will be transferred


Receipt ID

The number of the receipt, if you use one


Receipt Date

The date the receipt was issued, if you use one


  1. When you are done, click Review Transaction to review your work.
  2. If you want to make changes, click Edit Transaction, make any changes, and click Review Transaction again.
  3. When you are satisfied with all changes, click Submit.

How to make adjustments to a savings deposit

Sometimes errors occur when savings accounts transactions are recorded. If you need to cancel the full amount of the last deposit or withdrawal, you can do this by making an "adjustment." If you need to cancel several transactions, you must do each one separately.

Follow these instructions:

  1. From the Transactions box at the upper right of the screen, click Apply Adjustment.
    A screen like the following appears, showing the last payment made:
  2. In the Correct Amount, type the accurate deposit or withdrawal amount.
  3. In the Notes box, type information describing why you made this adjustment.
  4. When you have made the adjustment, click Review Adjustment to review your work, and click Submit.

Adjustments appear in performance tracking, summarized historical data, and the change log.

How to transfer funds from one Savings account to another

Mifos provides functionality which allows to transfer funds from one Savings account to another via 'Apply transfer' link. Funds can be transferred between all Savings accounts which belongs to one customer as well as they could be transferred to Savings account of another customer. 

Follow the steps below to see how to transfer funds from one account to another:

1. Open Savings account from which you want to transfer funds to another account and click on Apply transfer link, as it is shown below:

2. Enter beneficiary name to whom you want to transfer funds and click on Search button.

3. Select appropriate client from the list.

4. On the next page, you will see the list of active Savings accounts of selected beneficiary client with balance summary. Click on the account number to which you want to transfer funds:

5. Enter transfer details and click Submit to apply transfer.

NOTE: You can always change beneficiary account by using Select different account button.

6. Check all transfer details and on Submit button to confirm the funds transfer.

7. You can check that Savings account balance has been reduced, as it is shown below:

: Funds transfer from one account to another is possible only when user has assigned permission "Can transfer funds between Savings accounts".