Asset-based lease transaction management and accounting system

• US 20030126048A1
• Filed: 06/29/2001
• Published: 07/03/2003
• Est. Priority Date: 06/29/2001
• Status: Abandoned Application

• Current Assignee: SEISMIQ, Inc.
• Original Assignee: SEISMIQ, Inc.
• Inventors: Ruger, Eric, DeGregorio, Gary, Burke, Jim, Guo, Xiao, Gray, Jeff, Rice, David, Smith, Karen, Werner, John, Andes, Ellen, Sadalage, Pramodkumar, Behnke, Monika, Kluvers, Polly, Hollar, Terri, Mclean, Michelle, Sinclair, Cecilia, Foemmel, Matt
• Application Number:
  US09/896,263
• Publication Number:
  US 20030126048A1
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A system is provide for effectively managing lease transactions in a comprehensive manner. Data is generated, processed, and stored at the lowest possible logical level in order to maximize the flexibility of a user to conduct processing at the asset, billing schedule, lease, account owner, master agreement, customer, or program level. Using a fully normalized data design, similar characteristics are treated similarly and different characteristics are treated differently. Unlike other systems, assets associated with the same lease can be treated differently without having to fake asset level processing by using multiple leases with one asset each, to represent one actual lease. A hierarchy of rule settings is enforced, whereby the rule at the lower more specific level trumps the rule at the higher or more general level. The system uses a highly encapsulated accounting engine which encapsulates accounting rules in a transparent incorporates accounting expertise in flexible and transparent manner. The accounting engine is triggered by business events to automatically generate accounting entries.

Claims

1. A lease transaction management and accounting system comprising:

an asset processing subsystem including an asset and at least one asset attribute partially defining said asset, wherein said asset processing subsystem selectively creates, modifies, or deletes said asset or said asset attribute;

a lease processing subsystem including a lease and at least one lease attribute partially defining said lease, wherein said lease processing subsystem selectively creates, modifies, or deletes said lease or said lease attribute; and

wherein a plurality of assets are associated with said lease, said lease processing subsystem invoking said asset processing subsystem to enact identical and substantially simultaneous changes to said asset attribute for said plurality of assets.

2. A lease transaction management and accounting system as recited in claim 1, wherein said identical and substantial changes to said asset attribute are enacted for more than one said asset but less than said plurality of assets.

3. A lease transaction management and accounting system as recited in claim 1, further comprising an operational rule enacted for said lease, wherein said asset attribute selectively overrides said operational rule.

4. A lease transaction management and accounting system as recited in claim 1, each of said assets sharing a common asset attribute, and including a grouping of values associated with said common asset attribute for a representation of said lease.

5. A lease transaction management and accounting system as recited in claim 4, wherein said value is monetary.

6. A lease transaction management and accounting system as recited in claim 4, wherein said grouping is an aggregation.

7. A lease transaction management and accounting system as recited in claim 4, wherein said common asset attribute includes a book depreciation, a tax depreciation, a total revenue, a total cost, and an internal rate of return.

8. A lease transaction management and accounting system as recited in claim 1, wherein an asset object represents said asset and said asset attribute, said asset object being associated with said lease.

9. A lease transaction management and accounting system as recited in claim 1, further comprising a plurality of database tables, wherein said asset and said asset attribute are stored in an asset database table and said lease and said lease attribute are stored in a lease database table.

10. A lease transaction management and accounting system as recited in claim 9, wherein an association exists between said asset and said lease, but said association is stored neither in said asset database table nor in said lease database table.

11. A lease transaction management and accounting system as recited in claim 1, further comprising an unattached asset unassociated with any said lease.

12. A lease transaction management and account system as recited in claim 11, wherein a plurality of unattached assets share a common asset attribute, and including the grouping of values associated with said common asset attribute for a subset analysis by said system.

13. A lease transaction management and accounting system as recited in claim 12, wherein said common asset attribute includes a depreciation, and a total cost.

14. A lease transaction management and accounting system as recited in claim 1, further comprising a parent asset with various components and a child asset, wherein at least one component is split from said various components of said parent asset to create said child asset.

15. A lease transaction management and accounting system as recited in claim 14, a first asset attribute being an asset depreciation history, said child asset inheriting said asset depreciation history from said parent asset.

16. A lease transaction management and accounting system as recited in claim 15, a second asset attribute being depreciation, said asset depreciation history providing said depreciation between said parent asset and said child asset on a pro rated basis at the time of said split.

17. A lease transaction management and accounting system as recited in claim 1, further comprising a billing schedule subsystem including a billing schedule and at least one billing schedule attribute partially defining said billing schedule, a plurality of said assets associated with said billing schedule, said billing schedule subsystem invoking said asset processing subsystem to enact identical and substantially simultaneous changes to said asset attribute for said plurality of assets.

18. A lease transaction management and accounting system as recited in claim 17, further comprising a plurality of operational rules including:

a first subset of said operational rules set for said asset governing the processing of said asset attribute;

a second subset of said operational rules set for said billing schedule governing the processing of said asset attributes associated to said assets associated to said billing schedule; and

a third subset of said operational rules set for said lease governing the processing of said asset attributes associated to said assets associated to said lease; and

wherein in case of a conflict between said operational rules said second subset supersedes said third subset and said first subset supersedes said second subset and said third subset.

19. A lease transaction management and accounting system as recited in claim 18, further comprising a parent asset with various components and a child asset, wherein at least one component is split from said various components of said parent asset to create said child asset.

20. A lease transaction management and accounting system comprising:

an asset processing subsystem including an asset and at least one asset attribute partially defining said asset, wherein said asset processing subsystem selectively creates, modifies, or deletes said asset or said asset attribute;

a lease processing subsystem including a lease;

a billing schedule processing subsystem including a billing schedule;

a plurality of operational rules, wherein a first subset of operational rules is enacted for said asset or said asset attribute, a second subset of operational rules is enacted for said asset or asset attributes associated with said billing schedule, and a third subset of operational rules is enacted for said asset or asset attributes associated with said lease, said lease, wherein in the case of a conflict, said second subset supersedes said third subset, and said first subset supersedes said second subset and said third subset.

21. A lease transaction management and accounting system as recited in claim 20, wherein a first plurality of assets is associated with said lease and a second plurality of assets is associated with said billing schedule.

22. A lease transaction management and accounting system as recited in claim 21, wherein said first plurality of assets and said second plurality of assets are the same.

23. A lease transaction management and accounting system as recited in claim 20, further comprising a plurality of objects, wherein said asset and said asset attribute is represented by an asset object, said lease is represented by a lease object, and said billing schedule is represented by a billing schedule object.

24. A lease transaction management and accounting system as recited in claim 23, wherein association of said asset with said lease is represented in neither said asset object nor in said said lease object.

25. A lease transaction management and accounting system as recited in claim 20, further comprising a plurality of database tables, wherein said asset and said asset attribute are represented in an asset database table, said lease is represented in a lease database table, and said billing schedule is represented in said billing schedule table.

26. A lease transaction management and accounting system as recited in claim 20, further comprising a lease termination of said lease and non-terminated leases, wherein a plurality of assets associated with said lease prior to said lease termination are associated with different said non-terminated leases after said lease termination.

27. A lease transaction management and accounting system as recited in claim 20, further comprising a first plurality of assets associated with said lease, a second plurality of assets associated with said billing schedule, and wherein an internal rate of return is selectively determined for said asset, said first plurality of assets or said second plurality of assets.

28. A lease transaction management and accounting system as recited in claim 20, wherein a first asset attribute comprises a current asset address, and a second asset attribute comprises a former asset address.

29. A lease transaction management and accounting system as recited in claim 20, further comprising a plurality of assets associated with said lease, each of said assets sharing a common characteristic, an identical operator being applied to only a subset of said plurality of assets based upon said common characteristic.

30. A lease transaction management and accounting system as recited in claim 29, wherein said common characteristic is an association with said billing schedule.

31. A lease transaction management and accounting system as recited in claim 29, wherein said operator is one of a financial transaction, cost factor, and billing criteria.

32. A lease transaction management and accounting system as recited in claim 20, wherein said asset is associated with said lease prior to a lease termination and further comprising a repository of assets not associated with any said lease, where upon said termination of said lease said asset moves to said repository.

33. A lease transaction management and accounting system as recited in claim 20, wherein said asset attribute includes asset depreciation, said asset depreciation unaffected by said lease and said repository.

34. A lease transaction management and accounting system as recited in claim 20, wherein asset attributes include a tax and a jurisdiction charging said tax.

35. A lease transaction management and accounting system comprising:

an asset processing subsystem including an asset and at least one asset attribute partially defining said asset, wherein said asset processing subsystem selectively creates, modifies, or deletes said asset or said asset attribute;

a lease processing subsystem including a lease and at least one lease attribute partially defining said lease, wherein said lease processing subsystem selectively creates, modifies, or deletes said lease or said lease attribute; and

wherein a plurality of assets are associated with said lease, each of said assets sharing a common asset attribute, and including the grouping of values associated with said common asset attribute for a representation of said lease.

36. A lease transaction management and accounting system as recited in claim 35, wherein said value is monetary.

37. A lease transaction management and accounting system as recited in claim 35, wherein said grouping is an aggregation.

38. A lease transaction management and accounting system as recited in claim 35, wherein said common asset attribute includes a depreciation, a total revenue, a total cost, and an internal rate of return.

39. A lease transaction management and accounting system as recited in claim 35, further comprising an unattached asset unassociated with any said lease.

40. A lease transaction management and account system as recited in claim 35, wherein a plurality of unattached assets share said common asset attribute.

41. A lease transaction management and accounting system comprising:

an asset processing subsystem including a plurality of assets and at least one asset attribute partially defining said plurality of assets, a parent asset including various components and a child asset, wherein at least one component is split from said various components of said parent asset to create said child asset.

42. A lease transaction management and accounting system as recited in claim 41, a first asset attribute being an asset depreciation history, said child asset inheriting said asset depreciation history from said parent asset.

43. A lease transaction management and accounting system as recited in claim 42, a second asset attribute being depreciation, said asset depreciation history providing said depreciation between said parent asset and said child asset on a pro rated basis at the time of said split.

44. A lease transaction management and accounting system comprising:

an asset processing subsystem including an asset and a plurality of asset attributes defining said asset, wherein said asset processing subsystem selectively creates, modifies, or deletes said asset or said asset attributes;

a billing schedule subsystem including a billing schedule and a plurality of billing schedule attributes defining said billing schedule, wherein said billing schedule subsystem selectively creates, modifies, or deletes said billing schedule or said billing schedule attributes;

a lease processing subsystem including a lease and a plurality of lease attributes defining said lease, wherein said lease processing subsystem selectively creates, modifies, or deletes said lease or said lease attributes;

a plurality of operational rules, wherein first subset of operational rules are enacted for said asset or said asset attributes, said second subset of operational rules are enacted for said asset or said asset attributes associated with said billing schedule, and said third subset of operational rules are enacted for said asset or said asset attributes associated with said lease, said lease, wherein in the case of a conflict, said second subset supersedes said third subset, and said first subset supersedes said second subset and said third subset; and

a plurality of financial values and a plurality financial calculations including a billing schedule level financial calculation and a lease level financial calculation, wherein said financial values comprises a subset of said asset attributes, and said asset processing system calculates said billing schedule level financial calculation using all said financial values associated with said billing schedule and said asset processing system calculates said lease level financial calculation using all said financial values associated with said lease;

wherein a plurality of said assets are associated with said lease, said lease processing subsystem invoking said asset processing subsystem to enact identical and substantially simultaneous changes to a first selection of said asset attributes for said plurality of assets associated with said lease; and

wherein a plurality of said assets are associated with said billing schedule, said billing schedule subsystem invoking said asset processing subsystem to enact identical and substantially simultaneous changes to a second selection of said asset attributes for said plurality of assets associated with said billing schedule.