Auction day goes fine, and then three days go on working out every subscriber’s dividend.
A chit fund company runs on group registers, the monthly auction, a dividend worked out on a calculator, and agents with receipt books. Dues, security, and payouts drift apart across ledgers. GullySystem’s chit fund software keeps each group, auction, due, collection, and payout in one place, adapted to your groups after a free technology audit.
Every group has its own chit value, duration, seats, and auction date. Run ten groups and the office handles hundreds of tickets, each with a different balance.
Our chit fund management software is built for this work, set up around your groups, your commission rate, and the way your agents collect.
On auction day the foreman reads out the bids and the lowest bidder takes the prize. Someone writes the bid, commission, and dividend in the minutes book, then works out each non-prized subscriber’s share.
Agents carry the dues list, subscription less dividend, on their rounds. They collect cash or UPI and write receipts from a book, and the office types it all into Excel and later Tally.
Before the prized subscriber is paid, the office collects guarantors, cheques, or property papers as security. That file usually lives in a cupboard, not on the ticket.
What goes wrong for chit fund companies without a proper system.
The dividend sheet is wrong for two tickets
One formula slips in Excel, a subscriber pays the full instalment instead of the net, and the dispute reaches the foreman.
Agents collect, but the office finds out on Saturday
Cash sits with the agent for days, and a subscriber shows a receipt the office never saw.
We paid out before the security was complete
The guarantor’s papers were promised, the prize went out, and now the prized subscriber has stopped paying.
Nobody can say who owes what across groups
A member holds tickets in three groups, and their balances sit in three separate sheets.
What we would build for chit fund companies.
Named the way your team already talks about the work. We start with whichever part the audit shows is costing you most.
Chit groups and tickets
Each group with its chit value, duration, seats, subscription, and commission rate, and every member on a numbered ticket.
Auction desk
Records the winning ticket, bid, commission, dividend per ticket, and net prize, with the minutes and who approved them.
Dues and collections
Each instalment shows the subscription, dividend deducted, and net payable, and payments carry the mode, reference, and collecting agent.
Payout against security
Guarantor and security documents sit on the prized ticket, and the payout stays locked until someone verifies them.
Subscriber and group ledgers
A subscriber’s dues and payments on one screen, and a group’s month with every outstanding ticket on another.
Member KYC and portal
Aadhaar, PAN, and photo marked verified or rejected, and members see their net dues online and pay through your payment gateway.
Ready products that fit chit fund companies.
Each one is adapted to how your business works before it goes live, and anything your trade needs that it lacks is added then. You are not paying to build the basics again.
The services behind it.
ERP, CRM and Business Software Implementation
One record of stock, orders, customers and accounts, set up so your team opens it every day.
Learn moreBusiness Process Automation
Approvals, reminders, follow-ups and reports that run on their own instead of on someone remembering.
Learn moreAPI and System Integration
Tally, WhatsApp, payment gateways, GST portals and your own apps sharing one set of numbers.
Learn moreWeb and Mobile Application Development
Web and mobile apps for customers, field staff and dealers, built to work on ordinary phones.
Learn moreHow the work runs from Bengaluru for your city.
- 01
The audit, by call
A screen-share and a look at the sheets, Tally reports and WhatsApp groups your team uses. No travel needed.
- 02
A written proposal
Scope, what we build first and the cost, agreed in writing before anything starts.
- 03
Build in short rounds
Working screens shared every few weeks. Your team tests them from your own office.
- 04
Go-live, in person when it helps
For data migration and training we can come to your city. Travel is agreed in advance.
- 05
Support online
Fixes, changes and hosting handled remotely by the same team that built it.
Software we have built and run.
We only name clients whose work is published. These are systems our team designed, built and supports.
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Read the case studyQuestions chit fund companies ask before they call.
Does the chit fund software work with Tally?
Yes. Collections, commission, and payouts can post to Tally, so your auditor keeps the books there, while the ticket-level detail stays in the chit software.
Is it compliant with the Chit Funds Act?
Compliance stays with your company and your auditor. The software records each auction, its minutes, the security taken, and every payment with who entered it, which makes those records easier to produce.
Can agents record collections from their phone?
Yes, from the browser on their phone. The agent records a payment against the due and a receipt number is generated, so the office sees it the same day.
We run two small groups. Is this worth it?
Maybe not yet. A careful Excel file can hold a couple of groups, and the audit will say so honestly. Software pays off once auctions, agents, and security files overlap.
What happens in the free technology audit?
We look at the software, spreadsheets and WhatsApp groups your business runs on today and write down what works, what slows your team down and what is missing. A demo login, a screen-share or a few screenshots are enough to start. You get a report ordered by priority, and there is no obligation to hire us afterwards.
How much will the software cost?
We don’t publish a price, because it depends on what the system has to do. The audit settles the scope, and the cost goes into a written proposal before any work starts.
Tell us how your business runs today.
A few lines on your spreadsheets, software and WhatsApp groups is enough. We reply the same working day.
- No obligation
- We reply the same working day
- Your details stay private