Hi all, I am looking for recommendations for a finance management solution tailored to cooperatives. The ideal tool would handle both incoming and outgoing transactions for the cooperative, track member contributions and balances, manage invoices (including those from subcontractors), and support bank reconciliation. Any suggestions for tools that offer these features and work well in cooperative settings?
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Sounds like you need a flexible ERP software solution like ERPNext.
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Some years ago when we were looking a ERP systems ERPNext was the one we liked the most but we lacked the time and resource to configure it for our needsā¦ another option, that is supported by some tech co-ops, is Odoo.
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@chris TY for the suggestion of Odoo. That looks interesting.
This comparison between the levels of service that they offer, gives a good breakdown of the business functions that might be required. 
Their github can be found here:
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Thereās one org i work with, where they mostly use the Google toolchain, but with templates and work-arounds, to replicate some of the functionality that Odoo apps provides.
I also saw some large corporates that evolved systems of similar functionality, that were based on Excel macroās dating back decadesā¦ 
Another system worth looking at is the OpenCollective approach:
While their approach doesnāt cover all of the functionalities that you mentioned, it covers some of them, and this includes the transaction rails to access the external banking systems.
Their FAQ can be found here:
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Another place worth asking is CDS Co-operative:
Most of their systems are optimised for housing co-opās, so theyāll cover the same functionalities as in any other business, but focused on the management of buildings and real estate.
@zhenya You didnāt mention what the focus of your co-operative is. More details will help us find you more specific solutions.
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Thanks for the reply and the suggestion. Do you use it for your cooperative? Asking as we had a brief overview of ERPNext but will be great if we know a cooperative with similar needs used it.
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Thanks for the reply! Our focus is software development so if anything else comes to your mind please share.
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Please note that the Google Toolchain is what that org uses.
It is NOT a recommendation from me.
The problem with using all Google products, is that you are tied to the whims of one supplier, who will act with their own margins in mind, and not for the benefit of their customers.
The leaks from ex-Google staff, like Timnit Gebru, shows that Google only give promotion points to their staff, for releasing new products, but not for supporting existing products, so every time thereās a new product launch, the most effective people leave that product team.
You may also enjoy reading this:
Archived version of āThe Man Who Said No to Walmartā article.
It describes the problems caused by only having a single supply-chain to get products to your customers, and how the company that was able to say No, was only able to do so, as they had an alternative sales channel.
Using the Google tool-chain will give you the same problem in the long run.
Use a toolchain that is NOT reliant on a single supplier!
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