An Online Plant and Machinery Business Management Application

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

Sr.No.	FEATURES	ORECS	NORMAL ACCOUNTING SOFTWARE
1.	Approval authority for multiple I team like Expenses, Money requisition, disbursement, payment to vendor, salary, etc...
2.	Access from Anywhere, Anytime and from any Devices.
3.	Salary generated will be clubbed with accounts. No need to have a bridge between accounts and HR
4.	HR person can track the accounting data related to employees
5.	Sharing the load of accouts between all departments.
6.	Non accounting person can do accounting job. Receptionist can do disbursement of Funds.
7.	Billing is accurate from logsheet. Which is not possible from Account software.
8.	Multiple accounting activities in one action. System multiplies the input into respective actions.
9.	Employees can see their individual ledger from their mobile app also.
10.	Collaborative approach and circulation of required accounting details to specific persons only. Like payment receipt from site information to particular site concerned people.
11.	Specific department person can see specific accounting details.
12.	Payment follow up person can see all accounting details with view only rights and can send ledger to specific Customers without writing email address and without opening email software also.
13.	Many customise reports like Money disbursement details, payment follow up, outstanding summary etc...ORECS can send to specific person at specific time automatically.
14.	Sending Email of specific accounting report to Customers, vendors or employees every month at specific time. Like 1st Monday on every month send outstanding detailed report to Customers with ledger.
15.	Anybody like operator or Driver can scan expenses invoices from his mobile and make accounting entry easily.
16.	Required important accounting information on dashboard only....no need to go and open reports.
17.	Financial discipline. You can block fund % wise from specific receipt for specific purpose like...If company receive 100 as a service income then 15% should be blocked for Service tax which accountant can not use without approval of Top authority....like many things you can configure dynamic discipline
18.	Account person can automatically get print RTGS form of particular bank with all details if disbursement is from specific bank by RTGS.
19.	Locking disbursement and cheque printing if no sufficient balance in particular banks particular account.

* Terms & Condition Apply

Accounts to Operational Accounts

ORECS v/s Accounting Software