The idea behind a cooperative is not just to make profits for the business, but to provide distributions back to your customers/members. RR Co-op takes the headache out of tracking & reporting member contributions and disbursements.
Co-ops will have access to the Patronage module, a specialized general ledger, and specialized reports specific to the needs of cooperatives. For co-ops that have retail locations and/or make fuel deliveries, RR Co-op integrates seamlessly with CSMinder and RR Fuel for a full, comprehensive package.
Co-ops that distribute profits to their members need a tool that can track member contributions, calculate dividend payments, and provide all necessary reports for these tasks. The Patronage module holds and tracks funds entered through Sales Tickets until it is time to make disbursements to patrons. Once distributions have been paid, records can automatically be posted to the General Ledger for seamless reporting.
The Co-op Ledger is a companion to the General Ledger that offers additional financial reporting options that focus on the unique needs of cooperatives.
Utilizing margin information, this module creates transactions for the General Ledger for ending inventories for the end of month financials. Items are either coded as actual, allowing entry of a counted physical inventory, or “fixed” margin. Selecting fixed calculates the ending inventory values and posts them into the General Ledger to calculate profits or margins for commodities. Once established, these fixed margins are only edited on a yearly basis, typically after an annual audit process when actual margins may prove different values to be warranted.
The virtual assistant, Connie, converts and imports your scanned invoices directly into Red River Software’s Accounts Payable – no data entry required. Get alerts when your suppliers’ prices fluctuate. Click here for more details.