System integrating credit card transactions into a financial management system
First Claim
1. A system, comprising:
- a financial management system providing control and accounting for financial transactions; and
a credit card system associated with the financial management system and providing control and accounting for credit card transactions within the financial management system.
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Accused Products
Abstract
A system integrates credit card transactions into a financial management system used by a company to track and control budgets, etc. The system provides the controls and accounting for credit card transactions found for other types of transactions within the financial management system. The invention limits the card transactions using various limits not available to a credit card issuer and ensures that the transactions comply the financial system controls. The transactions can be obligated prior to or during the actual transaction with the bank and thereby subjected to the controls of the financial management system. Obligated transactions can be authorized for immediate payment. The invention provides for the complete reconciliation of the credit card transactions with bank records after the transactions occur using the obligation function to capture the transaction before it occurs, even the transactions that are immediately paid. The system reconciles the transactions recorded by the bank with those recorded in the financial system and updates budget, plan, project, and ledger entries accordingly. The system also allows cardholders to identify disputes and track the correspondence with the card issuer over the dispute.
242 Citations
26 Claims
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1. A system, comprising:
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a financial management system providing control and accounting for financial transactions; and
a credit card system associated with the financial management system and providing control and accounting for credit card transactions within the financial management system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A system, comprising:
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a financial management system providing control and accounting for financial transactions; and
a credit card system associated with the financial management system and providing control and accounting, at a time of purchase, for credit card transactions within the financial management system comprising checking the transactions against financial system limits including single purchase limits, billing cycle limits, budget limits, account code limits, product type limits, validating credit card information on credit card statements, automatically reconciling the transactions by searching for an obligation created in the financial management system at a time of a purchase, updating budget, planning, project and ledger entries of the financial management system, authorizing immediate payment of purchases approved by the credit card system at the time of purchase and setting up disputes for unapproved purchases.
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13. A method of processing credit card transactions, comprising:
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receiving a credit card transaction from a card issuer; and
reconciling the transaction within a financial management system.
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14. A method, comprising:
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receiving a credit card transaction from a card issuer for a vendor; and
providing control and accounting for the credit card transaction within a financial management system. - View Dependent Claims (16, 17, 18)
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15. A method of processing credit card transactions, comprising:
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receiving a credit card transaction from a vendor and subjecting the transaction to card issuer limits; and
subjecting the transaction to financial system limits.
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19. A credit card system, comprising:
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a credit card issuer; and
a financial management system communicating with said issuer, accepting credit card transactions and providing for approval of the transactions. - View Dependent Claims (20, 21, 22)
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23. A credit card system, comprising:
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a credit card issuer; and
a financial management system communicating with said issuer, accepting credit card transactions and providing automated handling of disputes over credit card purchases.
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24. A system, comprising:
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a packet-switched communication system;
a financial management system coupled to said communications system and storing credit card information related to financial system account codes; and
a user terminal coupled to said communication system and allowing a user access to the credit card information. - View Dependent Claims (25)
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26. A computer readable storage medium including a process receiving a credit card transaction from a card issuer and reconciling the transaction within a financial management system.
Specification