Setup and Configurations

The Woodcore console setup and configurations will take place during the onboarding sessions with our support team. This session will enable you to use the console with ease and configure your organization's tenant to suit your services.

Setup process

These are some setup processes required to configure your console tenant.

Office Setup

An office represents divisions or branches of your organization. Most often the branches are determined by the geographical location of the office. With the office setup, you can easily access the information or details of a specific branch.

For example, Bank ABC has its head office located in Lagos with branches in Abuja, Port Harcourt, and Kano. In your office setup and configuration, your organization's head office will be set to Lagos and other offices will be created for Abuja, Kano, and Port Harcourt.

Customers and your employees within these branches will be added or created under the branch/office they belong to. In the creation of an office, the head office is the primary or main branch.

We recommend that you set up your head office first, before proceeding to create other branches which must be linked to a parent office (head office).

To create or edit an office within your organization. Follow the steps below:

1. On your console, navigate to Utilities > System configs.
2. Next, select Manage Offices to create a new office or edit existing offices.
3. This will spring up a page containing the list of all existing offices, click on the New office button at the top of the screen.

4. Enter the office details which include

• Name of the new office: This can be the name of the branch, location, or product.
• Parent office: This is the head office under which the new office falls.
• Date created: Enter the date the office was created.

5. (Optional) External ID: This is an identifier of your organization may use to identify your offices.

6. Click on the submit button to create the new office.

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Note

The head office is provided with the tenant by default.

Likewise, an existing office can be edited or modified. To perform this action, follow the steps illustrated below:

1. On the office page, click on the Edit button beside the office you want to modify.
2. Make your desired modification.

3. Click on the Submit button to implement changes.

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Note

The parent office field cannot be edited.

Product configurations

Product configurations involve setting up and defining the rules, parameters, and settings of your organization’s financial products. These products include:

• Savings product
• Fixed deposits product
• Loan product and;
• Charges.

You can configure, and manage these product's offerings like interest rates, fees, eligibility criteria, repayment terms, tiers, and other features that determine how the product operates and how it can be used by the customers (individual and entity). The production configuration is set up during the onboarding session however, you can create a new product, or modify or deactivate a product when needed.

The settings defined in each product are centralized and apply to every account created under a specific product, this automates processes such as loan creation, account opening, and transaction processing, ensuring that products are offered consistently and efficiently.

Create Employees and Users

Employees and users are staff of your organization. An employee is a staff of your organization whose information is stored in the organization's database. Depending on their role, an employee may or may not have access to the Woodcore system API or console.

On the other hand, a user is an employee within your organization who has access to the console or API. This implies that all users are first created as an employee. However, not all employees are users.

See the User Management module for more information

During the onboarding process, a template is sent containing the list of employees within your organization who you wish to grant access to the system an email invite is sent to these employees. However, you can subsequently grant access to other employees to become users.

Define Roles & Permissions

A user's access to features and operations on the console is determined by their role, which is associated with a specific set of permissions. Defining roles within the organization is critical as it allows for control over user access to the system. When a user is assigned a role, their level of access is limited to the permissions associated with that role. Therefore, it is necessary to define the roles available in your organization to restrict user access and ensure security.

Examples of roles within an organization may include positions such as loan officer, teller, credit officer, supervisor, etc. The specific roles assigned to individuals will depend on their position within the organization.

In this case, the loan officer can be given permission to create loan products and accounts, approve and disburse a loan, etc.

While the roles are defined by the support team during the onboarding process, you can create other roles subsequently. See Roles and Permission for more information on creating a role.

Setup your Chart of Accounts

The Chart of Accounts (COA) is a list of all your organization's financial accounts. These accounts contain a record of all transactions which has taken place within your organization to enable you to identify and keep track of your organization's financial activities.

Here the accounts are categorized into Header and Detail and their respective account types, which include: asset, liability, equity, income, and expenses.

When creating a product (savings, loan, or fixed deposit) on the console, it is required that this product is first assigned to a GL. This implies that GL configuration must first be in place.

Creating a new GL Account

While setting up your chart of accounts, we recommend you begin by creating the header account and subsequently the detail accounts, which will be added to the header.

To create an account, follow the steps below:

• On your console, navigate to Accounting > Charts of Accounts.
• Next, on the Charts of Accounts page, click on the Add Account button at the top-right of the screen.

• Enter the required field:

• Account Type: Select the account type from the drop-down.
• Account Usage: Select Header or Detail account. Header accounts are used to group or organize the detail (sub-ledger) accounts.
• Parent: If you are creating a detail account, select a parent account to link the new account. Once a header account has been created, it is automatically included in the parent account list seen in the drop-down.
• Account Name: Enter a name for the account. Ensure the name is short and describes the GL purpose. For example, SMS Notification GL.
• GL Code: The GL code is a set of numeric values used to identify a general ledger. The GL codes determine the hierarchy of the GL accounts on the COA. They are also used to identify the detail accounts linked to a header account. For example, if the header GL has 11100 as its GL code, a detail account linked to the header will have a GL code of 11100xxxxx
  The GL code can be manually inputted or automatically provided by clicking on the scan icon.
• Manual entries allowed: (only available for detail accounts) If allowed, you can manually add journal entries to the account from the Journal Entries tab.
• Tag: Select a tag from the drop-down list. The tags are used for grouping GLs in the reports tab. These tags are created during the onboarding.
• Description: Enter additional information about the account.
• Following the completion of all required fields, click on the Submit button to add a new account.

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Note

Both the header and detail account are created in the same manner.

Data tables

Woodcore provides you with several fields by default to enable you successfully perform your daily operations such as the name, external ID, account number , etc. However, we understand that our customer's organizational requirements for carrying out their operations may be unique.

Considering this, data table allows you to create custom or additional fields that are essential to your organization but are not available on the console by default. The custom fields can be added to a client profile, office module, and savings/loan accounts. For example, organizations outside Nigeria when creating a client can add fields for bank verifications or any other verification uniquely applicable to their organization.

The data table can have multiple rows and columns. In addition, the columns can be customized to include, column type(string, number, decimal, date, text, and drop-down), mandatory and unique fields, length, etc.

To add a data table:

• Navigate to Utilities >Data Tables section on the Navigation panel.

• Click on the "Create Data Table"button at the top right side of the page.

Add the required following information.

• Data Table Name: Enter the desired name of the data table. Ensure the name is relevant to the data table

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Important

The data table field does not accept table names containing whitespaces. Instead, use an underscore (_) to separate the words in the data table name. For instance, use "Next_Of_Kin" instead of "Next Of Kin".

• Application Table Name: Select the name of the application you want this table to be under. For customers, click "client".
• Multi-Row: Check the box if you want the field to have multi-rows.
• Add Columns: Add the name of the columns
• Column Type: The column type includes strings for letters, number values, boolean if it is a 'yes or no' field, etc.
• Mandatory: Check the box if you want this field to be compulsory.
• Unique: Check the box to specify that parameters would be unique for each user, i.e, it allows only one occurrence of a particular number. Example, 1122334456. This implies that this set of numbers cannot be used twice else there will be a validation error that the number already exists.

Setup maker checker task

The maker checker feature offers an additional layer of security and validation, ensuring that actions within your organization are properly reviewed and authorized by designated personnel. By setting up the checker tasks, you can ensure the accuracy and completeness of your organization's financial transaction data.

This feature involves two individuals for each transaction: the "maker", who initiates the action and financial request, such as a transfer of funds or a loan application, by entering the relevant information. This information is reviewed by the "checker" who verifies the accuracy of the data entered by the maker and decides whether to approve or reject the transaction.

By default the checker functionality on the console is disabled, you can enable the maker checker for a specific task by selecting the task. To do this follow the steps below:

• Navigate to Utilities > Checker Tasks on the console.
• The Configure Checker task page will display a list of all tasks that the checker function can be configured.
• Click on the Edit button at the top right of the screen. This button will enable you to set or allow a specific checker task.

• Click on the checkbox to enable a checker task.

Note that, a user's access to make and check a task is dependent on the role of the user and the permission granted to the user. This implies that a user must be granted permission to be able to carry out these operations. See Roles and Permission for more information.

Data Migration; Bulk import

Bulk import is an important feature on the Woodcore CBA as it enables you to import your customers' data to Woodcore. You can migrate your existing customer, savings accounts, fixed deposit savings accounts, loan accounts, savings transactions, e.t.c., data into Woodcore using an Excel (XLSX) spreadsheet and submit it on the Woodcore console.

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Note

The migration period depends on the quantity of data being imported.

There are some preliminary steps in setting up your organization that must be completed. Contact the Woodcore Support team for further assistance.

To import data, follow the steps below:

1. Navigate to Bulk Imports in the Utilities tab of the navigation panel.

2. Select the Import Type from the list of dropdown. The available option includes:
   1. Client
   2. Savings Accounts
   3. Fixed Deposit Accounts
   4. Loan Accounts
   5. Savings Transactions
   6. Loan Repayment
   7. Journal Entries
   8. Account Journal Entries
   9. Block Savings Account
   10. Un-block Savings Account
3. Input the required details and click on the Upload button

Tier

Tiers are account limits set for customers within your organization. The tiers cover the withdrawal, daily withdrawal, and cumulative balances of customers in your organization.

By creating tiers, the customers are grouped under a category with a limit that applies to all customers within the tier. For example, if tier 1 is set with a withdrawal limit of N500,000, and a cumulative balance of N2,000,000. Any customer assigned to tier 1 cannot make withdrawals of more than 500,000 and cannot have a cumulative balance beyond N2,000,000.

To create a tier:

• Navigate to Utilities > System configs > Tier

• Click on the New Tier Level button on the top right of the page.

Enter the required details to set the tier.

Note, that you can also edit and delete a tier. However, ensure the tier is not assigned to a customer, an assigned tier cannot be deleted.