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MicroFinance Software
Why CommonCents?  |  Core Systems  |  Report Modules  |  Supporting Features

 Why CommonCents?


It is a User-Friendly and a True Micro-Finance Software

CommonCents Micro-Finance Software is a window-based, menu-driven, diagram-button-driven  and icon-driven  system designed initially for Micro-Finance Institutions (MFIs) with Grameen and/or  ASA methodologies. It is highly differentiated from a banking software because it is powered by modules and reports which facilitate and monitor group transactions but also take considerations of transactions by individual clients. CommonCents 101 was initially a 3-in-1 software and it highly integrates the Loan Tracking System, the Savings System, and the General Ledger System. This integration eliminates data-entry redundancy and makes data in the three areas consistent. This means that every transaction done in the Loan Tracking and/or Savings Modules has a corresponding journalized entry in the Financial System. This also means that savings transaction may also be integrated during loan transactions (ex. Release, Payment and Adjustment).  Through its years of usage and operations, banking modules and reports have been  added to the software which makes the system functional for banks with simple operations. Last September 2011, we released the MySQL version of CommonCents. This version is now a 4-in-1 software because it includes the Social Performance Monitoring System (SPMS). The Commoncents SPMS is PPI-ready. PPI or Progress out of Poverty Index tool is a commonly used SPMS tool by MicroFinance Institutions throughout the world. It was developed by Grameen Foundation and being used by Microfinance Institutions. Additional banking features and reports are continuously added  and enhanced to answer the growing information and reportorial requirements of banks with relatively more-advanced operations.

CommonCents is a Dynamic Software

CommonCents 101 Software is a software that can be easily upgraded (and is upgraded continuously) because it uses Object-Oriented Programming (OOP) and N-Tier Architecture  in its design and development. In some degree, it adapts the Service Oriented Architecture (SOA) because it uses reusable classes (tiers or services). It also uses data classes and forms produced by CENTECH's Visual Basic Form and DataClass Generator. The software is coded using Visual Basic and uses  Crystal Report  as its report designer. Throughout the years it experienced a lot of minor and major upgrades.

We have a Scalable Database

The data of the CommonCents 101 software can either be stored in MS Access database and in year 2011, MySQL database --an open-source database. This advanced IT methodology  makes future enhancement relatively easy and fast. Furthermore, client-partners will have no problem in the future if they decides to upgrade their database to a higher level or version.  

Tested and Reliable Software

CommonCents 101 Software started its development early of 2002 and modules and reports are continuously added/enhanced based on the suggestions of current  client-partners. The system is now currently used by big MFIs and bank nationwide with many branch- installations across regions. CommonCents101 software has also been shown and demonstrated to some MFIs and Banks IT personnel through some software-demostrations activities sponsored by Funders and MFI networks (e.q. Philnet, Visayas PEF). It has also been presented to funder’s IT personnel (e.q. PCFC, Philippine CGAP MIS consultant)  for comments and suggestions.   

Capable and Competent Software Designer and Technical Support

CommonCents 101 software is designed and developed by CEN Systems and Technologies (CENTECH) Corp who has highly competent and experienced Information Technology (IT) professionals. The technical team is headed by Carlo B. Sicad - The chief software architect - who has 27 years of IT experience and 13 years of MicroFinance IT experience. He has developed many application software for NGOs and most of them were Financial Systems. He is also the Chief developer of RMG-MIS—a micro-finance software developed last 2001 for MFI clients of People Credit Finance Corp (PCFC)-- which was funded by ADB. 

Lastly, "WE WILL STAY"

WE WILL STAY to support and serve the MicroFinance Industry. Other developers have folded and abandoned the ship but we have survived and still supporting our clients-partners, enhancing, and developing software. In fact, in August 2014 we will be celebrating our 12th year anniversary. Throughout the years, we have  continuously enhanced  CommonCents to cater to the continuously growing informational and reportorial requirements of our clients as well other players in the industry. We have been developing software complementary to CommonCents to complete the whole array of support.

The vision of CENTECH Corp. is to develop a MicroFinance Credit Bureau. We have started  developing a web-based software commonly known as CommonClouds.Net --A new paradigm in Information sharing--to achieve this vision. In August of 2014, we will also build the CommmonCons-olidation. A web-based software that will consolidate data from the different branches of MFIs. This will use the latest technology in software development and will cater to the needs of MFI management, stakeholders, and donors. This CommonCons-olidation software, aside from its initial purpose of complementing CommonCents101 MicroFinance Software,  will also  be used as a springboard to achieve our vision. Eventually we will be achieving this vision and we hope that you will be with us.    


 Core Systems

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1. Micro-Finance (MF) Loan Tracking System

  • A module that stores and processes client information. This is a client-centric system. Once information is inputted, it can be used in either loan system and/or savings system.

  • Modules for inputting new loans and updating these records of loan approval, release, and payment transactions. The software also keeps track of aging of loans with flexible aging brackets. It also can transfer loans to other loan types and can write off loans.

  • Modules that facilitate group payments and group releases and other group loan transactions. CommonCents' MF Release and MF Payment modules are designed to specifically handle group loans (e.g., Grameen or ASA-type) transactions. The modules are very flexible that the release/payment of group loan transactions may involve release to/ payment of one person, two or more members of a group, or for the whole group itself. Each transaction, which may involve one or many clients, will only generate a single entry to the General Ledger System. These modules differentiate the CommonCents  101 software from the traditional banking system in a way that a processing of payment in a center/group (for example, 40 clients loan payments and 40 clients savings transactions) is done just like an ordinary one payment or release. Furthermore, encoding of data is facilitated because suggested figures (e.g., principal, interest, savings1, savings2, etc.) for every client loans and savings will be given by the software. All the user will do is change the figure(s) that deviate(s) from the supposed figures and post this one transaction. This will then update all then individual loan ledgers of a center , all the individual savings ledgers of a center and the accounting ledger of the branch in just a fraction of time..  These features have proven to be the most time-saving features of the CommonCents 101 software compared to traditional banking software. Furthermore, the Payments module of CommonCents 101 software can handle partial payments, late payments, advance payments and payments with deposits.

  • Module for reclassifying or transferring of loans (for example, from Active to Past Due or to other classifications.) This module can also be used for writing off delinquent loans.

  • Module for correcting wrong loan transaction entries (ex. nullifying payments, correcting loan entries made to wrong persons, Unreleasing Released Loans, etc.);

  • Automatic updating of data related to Accounting and MF Savings Systems (e.g. automatic updating of accounting data for every loan transaction, integration of deposit and withdrawal of savings for the release and payment of loans, etc.). This means all the modules and processes mentioned above have their own General Ledger Entry and are automatically posted to the General Ledger System as well as to the Saving System.

  • Accommodates multiple loans. This means that you can create many loans for Micro-Finance and individual loans (for banks).

  • Provides flexibility in the computation of amortization interest and principal.

  • Modules for generating standard reports regarding loan information, i.e., management, monitoring and activity reports. The system has many existing reports to monitor performance (ex. master list of loans, aging reports, PAR reports, repayment reports, status reports, etc.). It can also facilitate operations (billing reports, loan ledgers, payments reports, etc.). These reports are grouped by branch, loan type, program officers, centers, etc.  The content of the reports can also be filtered by information (ex. branch, donor program, loan type, centers, etc.) to which the records belong.


2. Micro-Finance (MF) Savings Tracking System

  • Process micro-finance savings deposit, withdrawal and other types of   savings transactions of clients. The process can either be done by branch/center (group deposits or withdrawals) or by individual (for specific person only).

  • Compute interest and withholding tax of micro-finance savings using Central Bank computation. The computation of interest can either be done quarterly or monthly.

  • Transfer savings accounts from active to dormant and vice versa.

  • Process and compute deductions (service charges) of dormant accounts.

  • Supports up to nine (9) types of micro-finance savings for each group-based client (e.g. Voluntary Savings, Forced Savings, CBU, Guarantee Fund, Emergency Fund, Mutual Aid Fund, Group Fund and any fund you have).

  • Flexible savings accounts naming convention (ex. naming of MF savings and number of MF savings to be maintained). This means users can change the names of these nine (9) available micro-finance savings.

  • Supports the integration of Micro-Finance savings with Micro-Finance loan transactions. This means that client saving deposit can be integrated during loan releases and loan payments.

  • Allow users to correct wrong entries in MF savings transactions.

  • Transfer MF savings from one saving type to another (ex. from Emergency Fund to Voluntary Savings and vice versa) either by percentage of the whole savings of by absolute amount.

  • Link all of these savings transactions to Accounting System (e.g., automatic updating of accounting of data for every savings transactions). This means all processes mentioned above have an automatic General Ledger Entry and Posting.

  • Modules for generating standard reports of micro-finance savings information including management, monitoring and activity reports. Flexible reporting, which means that you could print one MF savings or a combination of them with filtering on Account Status, Centers, Program Officers, etc. Example of reports is List of Savings Accounts by center, PO, status; Statement of Savings Accounts, historical records of transactions, statistical reports on savings, etc.


3. General Ledger Accounting System

  • Can be used as stand-alone General Ledger System.

  • Transactions from other systems (Loan Tracking and Savings Systems) are linked to this system.

  • Modules for entry (journalizing) of purely financial transactions.

  • Modules for printing vouchers and other related documents.

  • Modules for automatic generation and postings of year-end closing entries.

  • Ability to change accounting periods (monthly, fiscal year, daily--for banks).

  • Tracks financial Information by individual Donor Programs and by Branch (e.g. generation of trial balance and other financial reports per Donor Program and/or Branch).

  • Flexible Chart of Accounts and other accounting columns.

  • Facilitate segregation of accounts/reports by Donor Programs. This means that you could generate reports and supporting documents either institutionally (for the whole organization) or per individual donor program.

  • Modules for generating financial reports including management, monitoring and activity reports. Examples are Balance Sheet, Income Statement, Trial balance, Book of Accounts, General Ledger, etc.)

  • Reports module for external organizations (BIR, Central Bank, PCFC).


4. Social Performance Monitoring System (PPI-Ready)

  • Can be used to store and manage social performance data of clients.

  • Includes module linking to Clients’ Data and Loan Tracking.

  • Includes modules for entry to data using Progress-out-of-Poverty Indicator (PPI) tools.

  • Includes module for printing Social Performance data for individual result.

  • Flexible “Question, Answers and Indicators” module where the MFI can change the version of questions, answers and indicators as well as the Poverty look-up table.

  • Facilitate segregation of by centers and other factors.

  • Includes modules for generating social performance management reports including management, monitoring and activity reports.



 Report Modules

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  • Can generate variety of reports in a fraction of time using the Crystal Report

  • The reports are grouped into major report groups namely; Financial Reports, Loans Reports, Savings Reports, Miscellaneous Reports, Statistical Reports, as well as Banking Reports, Self-Made Reports.

  • Flexible report generation modules. Most of the reports are grouped according to significant groupings (Branch, Sub branch, Center, Loan Type, Loan Officer, etc). Some of  the reports can also be filtered to some significant parameters (type of savings, branch, sub branch, centers, loan type, donor program, etc.)  

  • In the Consolidation system, report can be generated by specific branch, accounting period (historical), and for the whole institutions

  • Reports can be used for Tactical Purposes (List of Center, Center Billing Letters/Sheet, Billing Reports, Center Payment Report,  Financial Vouchers, Savings Ledgers—balance with savings transactions, Loan Ledgers—balance with loan transactions, Trial Balance).

  • Reports can also be used for Strategic Purposes (Portfolio at RISK (PAR) Report, Repayment Reports, Status Report, Income Statement, Balance Sheet, Savings Reports, Loan Reports, etc.)  

  • Reports are can also be used for external agencies (PCFC, BIR, Central Bank, etc.). Examples  are Statement of Expenses (SOE), Financial Books of Accounts (CRB, CDB, JV, General Ledger, List of Agency-Monitored Loans, List of Agency-Monitored Savings, List of Savings for those clients with delinquent Agency-monitored Loans, etc.) 

  • List of Reports

- Financial Reports

- Chart of Accounts

- Trial Balance

- Cash Receipts Book

- Cash Disbursements Book

- Journal Vouchers Book

- Year-End Auditors’ Adjustments Book

- Year-End Closing Entries

- General Ledger

- Voucher Summary (CR, CD, JV, Closing)

- Balance Sheet (One Column, Comparative)

- Income Statement (one Column, Comparative)

- Statement of Accounts (Loans and Funds)

- Trial Balance after Year-end Closing

- Trial Balance for the Day

- Proof Sheet (Daily) 

- Loan Reports

- Collection Sheet

- Master List of Clients Loan

- Portfolio at Risk (PAR)  with Repayment Rate

- Repayment Report with PAR

- List of Loans Fully Paid this Month

- Loans Ledger (Micro Finance)

- Status Report (Detail and Consolidated)

- List of Loans and Discounts

- Delinquency Report

- Daily Collectible Report

- Daily Collections Report

- Ageing Report (Matured and Unmatured)

- Billing Sheets / Letters

- Summary of Number Loans (by Loan Cycle, by Project Type, by Sex)

- Statement of Expenses (PCFC, OWN)

- List of Approved Loans (for a period)

- Savings Reports

- List of Personal Savings (Micro Finance)

- Statement of Account (MF) – Savings Ledger

- List of Savings by Aged PAR

- Number of Depositors (by Loan Size, etc)

- Miscellaneous Reports

- Exceptional Reports

- List of Loans

- List of Activities done in the system

- List of Centers

- Other Reports

- Banking Reports and other reports integrated in the screen forms


  Supporting Features

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1. Consolidation Software:

  • Another software that complements to the CommonCents Software.

  • Consolidates the branch data processed by the CommonCents Software installed in each branch by capturing or importing data (from files sent by the different branches) and consolidates these data to come up with institutional reports.

  • Module to store and process individual Branch and Centers info.

  • Module to import data from branches.

  • Module to export data back to the branches that are using CommonCents.

  • Reports modules are capable of generating summarized reports (lowest level is by centers) and come up with institution-wide reports.

  • Modules which store and process historical data and can be generated to produce reports which will compare the performance of branch or by periods  (month trending) and generation of reports by specific branch.

  • The CommonCents Software Side (Branch Side) has facilities/modules to export data from the branch database and put it in a file to be sent to the head office for consolidation.

  • The Consolidation Software is still under testing by our existing client partners and will be improved based on their comments and suggestions.

  • License price is the same as that of one CommonCents License.

2. Banking System  (for CommonCents 101 - for Banks): 

  • The “CommonCents 101  for Banks” has evolved and come into existence due to some banking information and reportorial requirements requested by existing client-partners and other prospective client-partners.
  • The banking software Includes the core systems stated in the Micro-Finance system plus a banking system. The CommonCents 101 MF and Banking Software now becomes 3-in-1 + 1 integrated software. The banking system is composed of new modules and reports added to the existing system. With these four systems in place, the “CommonCents 101 for MF and  Banks” can now be used to handle almost all of the operations of a bank with simple functions.
  • Reports specific for banking operations.


  • Detailed descriptions of each banking module and report will be published soon. The none publication of  these descriptions (features) is done deliberately in order for you-- evaluators-- to focus first on the microfinance side of the software.

3. Back-up Facility:

  • Has an internal back-up facility--you can back up your data within the system.
  • The backup also integrates compression and repair of the MS Access database.
  • Has a similar module that transfers the content of old database (old version structure) to a new one (new structure). This module is designed to upgrade your database system to a new version from time to time. 

4. Maintenance and Patch Facilities:

  • Have also “patch” and/or maintenance modules. These modules are specifically designed to handle maintenance and to correct minor bugs. This can also be used for technical support because it uses an SQL statement to correct or update existing databases.
  • Has proven to be very effective in supporting far-away branches/organizations. From experience, almost all of the corrections have been done by sending an SQL statement (probably by mobile phone using its SMS feature) and running this statement in this module to correct problems.
  • Built-in diagnostic modules in the system can help protect data integrity and correct errors.

5. Parameter-Driven Software:

  • The CommonCents 101 system is designed in a way that it can handle idiosyncrasies of a Micro-Finance Operations (ex. Different types of MF Savings) by changing some of the parameters.
  • It has a “Standard and Set-up” Module specifically designed to handle the differences among MFIs in terms of naming conventions, loan collection policies, savings interest and withholding computations, Loan Interest computations, Penalty Computations, Dormant Accounts policies, Advance Payments, Order of Collections—principal, interest, savings, Mutual Aid Fund, etc.
  • It has also a configuration (INI) file where in you can also set some of the parameters being used by the CommonCents 101 System.

6. Security and User Accessibility:

  • Comprehensive and Unlimited Accessibility or Security Set-up. Can create unlimited number of user groups (with unlimited users in each group). These groups can have different accessibility rights depending on your set-up.
  • Accessibility rights may be defined in a group level, menu level, form icon level and even on each object level with encryption in password.  This means that each group can be restricted to a certain module by limiting its menu. Within the form, they can be restricted to the different icons and even to some objects (text, labels, grid, buttons, etc.)
  • Has module that records login historical activities. These historical activities can be seen upon printing of the historical event reports.

The companies who have trusted us


Kasagana-Ka Development Center, Inc.(QC, PH)

Mallig Plains Rural Bank, Inc. (Mallig, Isabela, Philippines)

Taytay Sa Kauswagan, Inc. (Jaro, Iloilo, Philippines)

Culion Foundation, Inc. (Makati City, Philippines)

Lingap Pangkabataan, Inc. (Quezon City, Philippines)

Inter-Asia Development Bank (Tagaytay City, Cavite, PH)

Opportunity Kauswagan (OK) Bank (Iloilo, PH)

Alay Buhay Community Development Foundation (Quezon City, PH)

Opportunity MicroFinance (Antipolo, Philippines)

Katuwang Resource Center, Inc (Bacolod, Philippines)

Wealth Plus Livelihood Phils., Inc. (Marikina City, Philippines)

Cebu Caritas, Inc. (Cebu, Philippines)

ECLOF Philippines (Quezon City, Philippines)

South Pacific Business Development (Samoa, Kingdom of Tonga, Fiji and Solomon Islands)



Carlo B. Sicad
Chief Software Architect, President and CEO
CEN Systems and Technologies (CENTECH) Corporation
2636 Vienna St., Golden City
Imus, Cavite, Philippines 4103

Telephone: +63 46 4245797 - PLDT New No.
+63 46 4892163
+63 999 7001745
Best time to call is 10AM - 12NN
Philippine Time (UTC +08:00)

E-mail: fcbsicad@yahoo.com


Copyright 2014 by CENTECH