Accounts

If the cheque is printed using ORECS, you can sign it:

  • Without knowing the amount
  • Without knowing the bank balance
  • Without knowing the drawer name
  • Without knowing the payee bank
  • Because, ORECS takes care of everything
  • Real time Balance synchronization with Bank Balance. You have to update only once when you start using ORECS. Every time the Management approves the payment, it is credited to the respective ledger.
  • ORECS has its inbuilt accounting sense which eliminates the work of an accountant in an organization. An ordinary Data operator which manages the Call centre module does the actual job of an accountant.
  • Starting from the entry of funds till exit, ORECS tracks the flow and direction of every penny within system. This makes your accounting extremely easy and controlled due to virtual intelligence of system. This also adds the reduction of dependability on accounting manpower for all accounting needs of the Company.
  • ORECS being online, the Individual Ledgers are maintained starting from the date of registration of the Vendor or Service provider till today, which gives the total history of each and every transaction with just a click and few seconds from anywhere, anytime. Journal Entry and Ledger Entry are derived from various modules wherever there is a transaction involved. Therefore a separate data entry is not required for accounting purpose.
  • From Logsheet Entry, ORECS can derive data as per the Work order and predefined Terms & Conditions and automatically generate Invoices as per the prescribed format on Letterhead of the Company.
Fund Blocks
  • A Special Feature of ORECS: ‘Fund Blocks’ is one of the most wanted features till today. This is first of its kind of Structured Logic, which allocates the incoming funds to various predefined blocks irrespective of the amount of Receipt.
  • This feature allows the management to give priority to various categories of blocks and hence optimize the utilization of incoming fund exactly as per the priority.
For Example, if the Fund Blocks are configured as below:
Block 1
Bank Repayment
35% | Priority: 01
Limit: Rs.50,000/-
Block 2
Statutory
10% | Priority: 02
Limit: Rs.25,000/-
Block 3
Salary
20% | Priority: 03
Limit: Rs.35,000/-
Block 4
Vendor
20% | Priority: 04
Limit: Rs.40,000/-
Block 5
Site Operation
15% | Priority: 05
Limit: Rs.60,000/-
If first receipt is of Rs.1,00,000/- the allocation of fund would be like:
Rs.35,000/-
for Bank Repayment
Limit of Rs.50,000/-
Pending
Rs.10,000/-
for Statutory
Limit of Rs.25,000/-
Pending
Rs.20,000/-
for Salary
Limit of Rs.35,000/-
Pending
Rs.20,000/-
for Vendors
Limit of Rs.40,000/-
Pending
Rs.15,000/-
for Site Operations
Limit of Rs.60,000/-
Pending
If second receipt is of Rs.1,00,000/- the next allocation will be like:
Rs.15,000/-
for Bank Repayment
Limit of Rs.50,000/-
Achieved
Rs.10,000/-
for Statutory
Limit of Rs.25,000/-
Pending
Rs.15,000/-
for Salary
Limit of Rs.35,000/-
Achieved
Rs.20,000/-
for Vendors
Limit of Rs.40,000/-
Achieved
Rs.15,000/-
for Site Operations
Limit of Rs.60,000/-
Pending
Reallocation Cycle-1
Rs.5,000/-
for Statutory
Limit of Rs.25,000/-
Achieved
Rs.15,000/-
for Site Operations
Limit of Rs.60,000/-
Pending
Reallocation Cycle-2
Rs.5,000/-
for Site Operations
Limit of Rs.60,000/-
Pending
100% Fund Allocation Completed as per Fund Blocks priorities!

We recommend to continue using your existing Account software for account functionality and Audit Purpose. ORECS will help to reduce load on managing existing account and definitely improve accounting reports and decisions. ORECS Account Module is Focused on Administration, Collaboration & Control.

 ORECS v/s Accounting Software

* Terms & Condition Apply