The system is automatically generates the journal entries for all the transactions submitted from the other systems,or directly submitted by the user.Also it issues of the financial statements in all its forms with a full flexible, easy, and custom manner to meet our customers requirements
General Ledger Features
- Orchida-ERP includes high quality security system. The rights of each and every user are clearly defined in terms of the functions and procedures he can execute. In addition, sensitive records can be assigned to certain users or users group to reduce unauthorized access risk.
- Cash Collections
- Installments collection
- Cash payment
- Checks Receivable
- Checks Payable
- Portfolio Checks incoming
- Portfolio Checks Outgoing
- Other revenue
- Transfers banking
- Currency transfers
- Discounts on bills
- Simple Entry
- Multi Debtors entry
- Multi Creditors entry
- Multi Debtors Multi Creditors Entry
- Support multi opening balances in more than one currency for each branch and each journal
- The opening balance of inventory calculated based on the initial stocktaking
- Support trail balance for opening balances at any time in accounting period
Link each item with three accounts:
- Inventory Account
- Initial stocktaking
- Final stocktaking
The item may not be linked to general accounts
As we know, all the movements of the program result in serial restrictions that arrange their issuance.
A restrictions serial works for each individual journal. It can be adjusted at any time..
All the transactions of the system (sales – purchases – cash collections …) can be locked after being reviewed by the auditor, can not be modified only before removing the locking.
Locked transactions appear in all reports and statements of accounts in different color and user can filter out all unlocked transaction (UN reviewed) in all system reports.
- View what data was entered
- View who entered the data
- View when data was entered
- Drill down within views Reports
- User defined Period
- User define segment of chart of accounts or selected accounts
The program calculates the profit and loss resulting from currency movements due to the difference between the current exchange rate and the conversion rate
The daily report shows all the resulting restrictions in a given period
- Simply, each account directed as budget account or profit and losses account..
- The system generates the budget, profit and loss statements for all branches in all currencies
The system provides statements
- Financial Center
- Income list
- Statement of Cash Flows
- Financial indicators
All these statements is fully customized as desired by the Chief Financial Officer of the Corporation
Checks Payable and Receivable
Orchida-ERP automatically generates journal entries for:
- New checks
- The collection of the checks
- Non-sufficient funds (NSF) checks
- Export checks
- Partial collection
Old checks are also processed when collected / refunded
- It supports submitting a group of similar checks at once, and being linked together to the portfolio
- Also it supports adding for existing checks to the portfolio
- You can easily reschedule the residual value of a certain chic to a new set of checks
- Scheduled checks is viewed as a sub items under the original check
- When a financial year is completed, the program automatically transfers the checks under collection.
- The program retains the status of each check so that the movements and restrictions to be completed in the future will be easily completed.
Each Account in the system account (client – supplier – money – bank – in account …) , can accept transactions in multi-currency. So the resulting balances for each account are generated with different currency.
There are 3 ways to convert between currencies
- Conversion at the exchange rate at the time. The price differences charged as based on the daily price of the currency (change with the price of the currency change)
- conversion with the calculation of the price differences at the exchange rate at the time
- conversion taking into account the time of the establishment of the bill to be exchange rate collected / paid and the price differences are calculated based on tray.
- Account Statement for each branch separately
- Account Statement for all branches
- Account Statement of account for each currency separately
- Account Statement by specific currency and evaluated in local currency.
All financial statements can be issued for each currency separately or evaluated with the local currency
With multiple transfers at an account, at different exchange prices, the account is assessed in local and foreign currency.
When the financial year ends, the balance is transferred in foreign currency, The moving average for exchange price is calculated for all movements during the year..
All items purchased in foreign currencies are valued at the exchange rate at the purchase time.
Multi - Branches
Each account (client – supplier – money – bank – in account …) has balances per each branch and a gross balance
The systems helps to generate balanced multi-branch journal entries
The system enables control of the item transfer price between the branches. And issues incoming and outgoing journals between the branches automatically.
The system provides the statement of account for each branch separately, as well as grossed
The system provides the Financial statements for each branch separately, as well as grossed
Sales Taxes and forms of discounts on bills
The System enables the users to set the taxes rates while submitting items definitions, Then the system generates automatically taxes journals associated with the issued bills
There are handle different types of discounts in the bills.
Discount before tax and after tax,discount per item, and gross discounts
The system also enables the user to add other expenses to the invoice like the shipping and freight …
These additions can easily be directed to the GL accounts
The Entry issued by the system for the bill contains:
- Customer / supplier Account
- sales / purchases Account
- Discount Account
- Other additions Account
- Sales Tax Account
- Profit Tax Account
All financial statements can be issued for each branch separately as well as a consolidated statement of account
Features of the General Accounts Program
- The tree of accounts is defined at any number of levels.
- Customers, suppliers, banks and spending items are linked to their branches in a very simple way
- entering restrictions in more than one form (simple restrictions – owed to the mentioned – multi-listed creditors).
- The program calculates the profit and loss resulting from currency movements,due to the difference between the current exchange price and the conversion price.
- All system movements (sales, purchases, collection of restrictions …) can be protected after being audited by the auditor, and can not be modified until they are released.
- Ability to modify movements easily during review from within the directly reports .
- The program outputs the latest and old financial menus.
- The user can return the form of financial position, income menu and cash flow with complete flexibility.
- The complete check cycle is done automatically (the release restrictions – bank transfer – endorsement – partial payment – total repayment – bounce – rescheduling)
- All reports and financial statements are issued for each branch / for all branches – for each currency / all currencies denominated in local currency
- Full tax support within invoices, Sales tax and add tax. With control of the method of deduction and addition (before / after tax). The possibility of calculating the tax is included in the selling / buying price.
The Beneficiary Business Activities
- This is a basic system for all companies and businesses and industries. As well as sales outlets and shops..
- Import and export companies need to activate currencies.
- Companies dealing with arrest and payment papers (checks), especially auto Shows.
Devices and accessories