Frequently asked questions

KoopManager is cloud-based software for managing cooperative societies in Nigeria. It covers the member register, savings and contributions, loans and guarantees, payments, and accounting reports in one system.

It is built for Nigerian cooperative societies: the Exco members who administer the society and the members who save and borrow through it. Each member has their own login and portal.

Income and expenditure, balance sheet, cash flow, loan book with aging risk analysis, guarantee exposure, dividend analysis, member savings summary, and ledger reports including trial balance and account details.

Members deposit directly into the society's bank account, so the society handles no cash. Optional mandate-based automatic debits are available for recurring contribution cycles. Societies whose members are paid through payroll can also upload contributions from payroll deductions. On request, KoopManager can be integrated with a society's payroll system to pull member and contribution records.

After a financial year ends, an administrator closes it in KoopManager. The system works out the net surplus or deficit from that year's ledger activity and posts closing entries to Retained Earnings. The Exco can then appropriate the surplus to the accounts it decides on, such as a statutory reserve, education fund or dividend payable, as a percentage or a fixed amount for each line. KoopManager does not fix the split: each society follows its bye-laws and the guidance of its regulator or cooperative federation. A closing or an appropriation can be reversed with mirrored entries.

KoopManager keeps a double-entry ledger and produces a trial balance, account-level transaction detail, balance sheet, income and expenditure, and cash flow reports from the society's live records. Approvals and reversals leave an audit trail, and reversals are posted as mirrored entries rather than edits or deletions. That gives an auditor the records to trace each figure. The outcome of any audit still depends on the society's own records and its auditor.

Yes. KoopManager covers loan requests, approvals, disbursements, repayments and guarantee tracking, with an audit trail. Members can apply for loans and manage their guarantees from their own portal.

Administrators can add members individually or upload them in bulk. New members can be sent welcome emails containing their login details.

Each society's records are restricted to that society's authorised administrators and members. Connections are encrypted, passwords are stored as salted hashes, and approvals and reversals leave an audit trail. KoopManager does not sell personal information. See the Privacy Policy for details.

KoopManager is designed with data protection best practices aligned to Nigeria's Data Protection Act 2023 (NDPA). For most member data the society is the data controller and KoopManager acts as a data processor on the society's instructions. The Privacy Policy sets out the details.

Yes. KoopManager has a 14-day free trial that you start by registering your society. Plans include a member limit, which administrators can see on the Member Management page. Contact us for current plan terms.

Onboarding and Exco training are included. The app also has built-in help guides for members and administrators, and you can reach the team on WhatsApp or through the contact form.

KoopManager is built and operated by Koop Software Limited (RC 9394956), a company incorporated in Nigeria.