5. How to do a baseline
A baseline meeting
A “Baseline” is where you register all the savings that has been so far in the group cycle, and the current loans. This way, you make sure that the books and the app are aligned.
– How much each member has saved so far
– The current loans: original loan amount and how much has already been paid back
– Late fee: All fees that has been registered so far (not necessary to enter)
Finally, you do a box count and enter the current amount. This amount will be the baseline amount going forward.