Run Cooperative is a comprehensive loan management system designed to facilitate financial transactions within a cooperative framework. This system allows for efficient handling of account management, loan processing, and transaction tracking. It aims to enhance transparency and accountability in cooperative finances by automating transaction processes and providing insights into monthly financial activities.
Key Technologies
- Spring Framework: Used for building the RESTful web services and managing the application’s business logic.
- JPA/Hibernate: For data persistence and management of entities like accounts and transactions.
- Joda-Time: Utilized for date and time manipulation, enhancing the system’s ability to handle time-sensitive operations.
- Scheduled Tasks: To automate loan repayment calculations at fixed intervals using Spring’s scheduling capabilities.
- RESTful API: Facilitates communication between the front-end and back-end of the application, ensuring a smooth user experience.
Core Features
- Transaction Management:
- Supports purchasing and selling of goods with proper account balance checks to ensure sufficient funds.
- Maintains a record of all transactions, categorizing them as purchases, sales, or loan payments.
- Loan Processing:
- Handles different types of loans, including calculating repayment amounts based on interest rates and durations.
- Automates loan repayment calculations through scheduled tasks, ensuring timely updates and management of loan statuses.
- Account Management:
- Manages cooperative and procurement accounts, updating balances after transactions.
- Provides insights into account statuses and transaction details.
- End-of-Month Reporting:
- Generates reports on inflows and outflows for a specified month, helping track financial health and performance.
- Includes functionality to respond to requests for end-of-month (EOM) balance inquiries.
- Error Handling and Responses:
- Provides detailed responses for transaction success or failure, improving user experience and understanding of transaction outcomes.