Maintenance of records is one of the salient features of all Elders Self Help Groups. Following list of registers & account books is recommended as part of administration and management of day to day functioning of the ESHG:
1. Resolution notebook: This aids in the recording the minutes of the meeting, has scope to understand the attendance, participation, number of members saved, person who sought for the credit and availed. The register will show the resolution taken in that particular meeting and also the financial transaction of that particular month.
2. General Ledger: The ledger gives the consolidated and also the individual contribution on that particular date viz. savings, management cost contribution, loan repayment, interest, special savings and credit an individual availed. The consolidation part will give the entire transaction from the date of group formation and the current status.
3. Savings and Credit Ledger: The ledger takes into account the actual transaction of the group that is mainly the savings and credit pertinent to every individual. This shows the cumulative savings upto date by an individual and credit he has availed or due credit or interest he has to pay back.
4. Individual Pass Book: This is given to each of the members; the individual can know his savings, credit or interest balance. This book reminds him of the installment amount, interest, savings and other miscellaneous amounts that he has to carry with him for next meeting.
5. Receipts and Voucher: Every payment by an individual has to be supported by a receipt with carbon copy and payments in the form of a voucher.
The above records can help the concerned bank to know the functioning of the Elders Self Help Group and obviously will have no reason to reject a saving bank account for the Elders Self Help Group. The linkage will facilitate in getting credit from various sources like NABARD and concerned service banks of the particular area of the different development programmes of central and state governments. To avail these loans, the groups should have regular savings, high repayment percentage and smooth functioning. The Elders Self Help Group can be analyzed in this regard by grading the ESHGs.
