Transaction accounting processing system and approach

• US 20050274792A1
• Filed: 05/03/2005
• Published: 12/15/2005
• Est. Priority Date: 06/09/2004
• Status: Active Grant

• Current Assignee: Syncada LLC (US Bancorp)
• Original Assignee: US Bank National Association (US Bancorp)
• Inventors: Hahn-Carlson, Dean W., Suits, David A., Beck, Elizabeth A.
• Granted Patent: US 7,392,934 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Accounting data is classified to facilitate transaction processing and management. According to an example embodiment, data based rules are implemented for classifying transaction-related data into accounting categories. Accounting information is processed as a function of the data based rules and accordingly classified. This approach involves, for example, the identification of particular data based rules to apply to the accounting information, applying the rules and processing the information accordingly.

Claims

1. A transaction-processing system for facilitating transactions involving merchant offerings among transaction parties including buyers and sellers, aspects of each transaction being characterized by a transaction-based document, the system comprising:

a computer arrangement adapted to

access sets of accounting codes and transaction data based rules for applying the accounting codes to accounting data for transaction parties,

associate a transaction-based document with a set of the accounting codes for a particular party involved with a transaction to which the transaction-based document applies, and

use transaction data based rules associated with the particular party to apply the associated accounting codes to accounting data indicated via the at least one transaction-based document, and therein providing for user access to the accounting data categorized under the set of accounting codes.

2. The transaction-processing system of claim 1, wherein the computer arrangement is adapted to store accounting classification data in a databank for access by each party to the particular transaction, the accounting classification data reflecting application of the accounting codes to the accounting data for the particular transaction.

3. The transaction-processing system of claim 2, wherein the computer arrangement is adapted to interact with each transaction party for defining transaction data based rules for the particular transaction party.

4. The transaction-processing system of claim 1, wherein at least one of the transaction data based rules is defined as a function of time and the type of accounting data, with the at least one of the transaction data based rules being different for different times, and wherein at different times, the computer arrangement is adapted to implement the transaction data based rules to categorize the same type of accounting data in different categorizations.

5. The transaction-processing system of claim 1, wherein the computer arrangement is adapted to store the accounting data in association with an accounting code specified by third-party regulatory rules.

6. The transaction-processing system of claim 1, further comprising:

a memory arrangement adapted to store, for each of a plurality of transaction parties, sets of accounting codes and transaction data based rules for applying the accounting codes to accounting data.

7. The transaction-processing system of claim 6, wherein the memory arrangement includes at least one database.

8. The transaction-processing system of claim 1, wherein the computer arrangement is further adapted to

access sets of general ledger accounting codes for classifying accounting data into a format used by the particular party in its general ledger chart of accounts, and

apply the associated general ledger accounting codes to the accounting data.

9. The transaction-processing system of claim 8, wherein the computer arrangement is further adapted to:

post the particular party'"'"'s general ledger with the accounting data as a function of the associated general ledger accounting codes.

10. The transaction-processing system of claim 1, wherein the computer arrangement is adapted to receive sets of accounting codes and transaction data based rules from transaction parties and to access sets of accounting codes and transaction data based rules for a particular transaction party by accessing received sets of accounting codes and transaction data based rules received from the particular transaction party.

11. The transaction-processing system of claim 1, wherein the transaction-based document includes transaction data characterized by a previously-provided agreement between transaction parties, and wherein the computer arrangement is further adapted to authorize payment for associated transaction-based documents as a function of the transaction data based rules associated with the particular party and the previously-provided agreement.

12. The transaction-processing system of claim 1, wherein the computer arrangement is adapted to access sets of accounting codes as a function of a date associated with the transaction-based document and transaction data based rules indicating an effective date of the sets of accounting codes.

13. The transaction-processing system of claim 1, wherein the computer arrangement is adapted to access relationship data that identify accounting fields that are related, and to respond to an update to accounting data in a particular accounting field by updating any accounting fields to which the particular accounting field is related.

14. In a transaction-processing environment for facilitating transactions involving merchant offerings among parties including buyers and sellers, aspects of each transaction bearing on a previously-provided agreement by the parties and being characterized by at least one transaction-based document, a system to define and manage transaction data based rules for a user'"'"'s chart of accounts, the system comprising:

for each user, a data arrangement configured and arranged for storing transaction data based rules and a chart structure for the user'"'"'s chart of accounts; and

a transaction processor having a general ledger (GL) assignment engine and configured and arranged to;

facilitate the loading and storing of transaction data based rules in the data arrangement and the loading and storing of GL codes into the chart structure;

assign GL codes to transaction data with the GL assignment engine as a function of the loaded and stored GL codes and the transaction data based rules associated with the accounting codes; and

store the transaction data in the chart structure as a function of the assigned GL codes.

15. The system of claim 14, wherein the transaction processor is further configured and arranged to specify effective and expiration dates for each GL account code as a function of transaction-party specified information.

16. The system of claim 14, wherein the transaction processor is further configured and arranged to define the transaction data based rules, for applying accounting codes to transactions, in response to user inputs.

17. The system of claim 16, wherein the transaction processor is further configured and arranged to build a GL accounting code based on particular data values within a particular transaction.

18. The system of claim 17, wherein the transaction processor is further configured and arranged to specify GL accounting codes as a function of defined combinations of transaction data.

19. The system of claim 14, wherein the transaction processor is further configured and arranged to compare transaction data delivered to the GL assignment engine with defined assignment rule characteristics to return a GL code for use in categorizing the transaction data under the GL code.

20. The system of claim 14, wherein the transaction processor is further configured and arranged to retrieve transaction data based rules in response to an update made to the rules, and to reapply an accounting classification when the update to the rules results in a change in a previously-applied accounting classification.

21. The system of claim 14, wherein the transaction processor is adapted to exchange data with a customer'"'"'s general ledger system at a customer location remote from the transaction processor by sending general ledger data to the customer'"'"'s general ledger system via a data communications medium.

22. A transaction-processing system for facilitating transactions involving merchant offerings among parties including buyers and sellers, aspects of each transaction bearing on a previously-provided agreement by the parties and being characterized by transaction-based documents that are respectively provided by the parties to the transaction, the system comprising:

a transaction-memory arrangement adapted for

storing a plurality of sets of transaction-profile attributes, each set corresponding to a particular transaction, and

for each of a plurality of parties to the particular transaction,

storing respective accounting codes, and

providing transaction data based rules applicable to the stored accounting codes; and

a computer arrangement adapted to use the transaction data based rules to apply the stored accounting codes to accounting data indicated via the transaction-based documents.

23. The transaction-processing system of claim 22, wherein the computer arrangement is further adapted to store accounting-categorization data as part of the set of transaction-profile attributes, the accounting-categorization data reflecting application of the accounting codes to accounting data for the particular transaction.

24. The transaction-processing system of claim 23, wherein the computer arrangement is further adapted to provide secured access to the accounting-categorization data to users as a function of each user'"'"'s profiles, the secured access including access for adding and modifying the accounting-categorization data.

25. A transaction-processing system for facilitating transactions involving merchant offerings among transaction parties including buyers and sellers, aspects of each transaction being characterized by a transaction-based document, the system comprising:

means for accessing sets of accounting codes and transaction data based rules for applying the accounting codes to accounting data for transaction parties,

means for associating a transaction-based document with a set of the accounting codes for a particular party involved with a transaction to which the transaction-based document applies, and

means for using transaction data based rules associated with the particular party to apply the associated accounting codes to accounting data indicated via the at least one transaction-based document, and therein providing for user access to the accounting data categorized under the set of accounting codes.

26. A method for facilitating transactions involving merchant offerings among transaction parties including buyers and sellers, aspects of each transaction being characterized by a transaction-based document, the method comprising:

accessing sets of accounting codes and transaction data based rules for applying the accounting codes to accounting data for transaction parties,

associating a transaction-based document with a set of the accounting codes for a particular party involved with a transaction to which the transaction-based document applies, and

using transaction data based rules associated with the particular party to apply the associated accounting codes to accounting data indicated via the at least one transaction-based document, and therein providing for user access to the accounting data categorized under the set of accounting codes.