Managing Senior Citizen Saving Schemes in MProfit

Manage your Senior Citizen Savings Scheme (SCSS) in MProfit easily by following these steps. You’ll add your investment and set all necessary details so your portfolio reflects accurate records.

Step 1: Click the plus (+) sign to begin adding a new transaction.

Step 2: Select Add Transaction

Step 3: Open the transaction type drop-down menu.

Step 4: Choose Deposits or Loans from the list.

Step 5: Confirm your selection by clicking on Deposits or Loans.

Step 6: For the transaction type, use the drop-down menu again.

Step 7: Since you’re adding your SCSS for the first time, select Investment.

Step 8: For Asset Name, click the plus (+) icon to add a new asset.

Step 9: Tick the New Asset checkbox.

Step 10: Select the asset name field.

Step 11: Enter your preferred asset name for easy tracking.

Step 12: Click to enter a reference number for this asset.

Step 13: Click Save to add the new asset.

Step 14: Enter the rate of interest for your SCSS.

Step 15: For Interest Type, open the drop-down menu.

Step 16: Choose between Cumulative Interest or Payout based on how your interest is received.

Step 17: Set how often you receive interest by selecting a frequency from the drop-down.

Step 18: For this example, select Monthly as the interest payment frequency.

Step 19: Click on the date option to set the investment date.

Step 20: Select the investment date from the calendar.

Step 21: Enter the amount you have invested and add a narration if needed.

Step 22: Once all details are filled, click Save.

Your Senior Citizen Savings Scheme investment now shows in your MProfit portfolio. Keeping your investments updated helps you track your savings and interest with ease.