System, method, and computer program product for automatically posting transactions associated with a transaction account into a general ledger

• US 20070185791A1
• Filed: 02/27/2006
• Published: 08/09/2007
• Est. Priority Date: 12/02/2005
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Gorrin, Andrew, Chan, Cheung
• Granted Patent: US 7,908,189 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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, method, and computer program product are used to automatically post substantially all transactions associated with a transaction account into a general ledger. Recent transaction data associated with the transaction account is received. The recent transaction data is compared (e.g., matched) to stored and categorized transaction data in the general ledger to determine a new transaction data portion of the recent transaction data. The new transaction data portion is categorized. The categorized new transaction data portion is stored in the general ledger.

Claims

1. A method for automatically posting substantially all transactions associated with a transaction account to a general ledger of an accounting product, comprising:

receiving recent transaction data associated with the transaction account;

comparing the recent transaction data to stored and categorized transaction data in the general ledger to determine a new transaction data portion of the recent transaction data;

categorizing the new transaction data portion; and

storing the categorized new transaction data portion in the general ledger.

2. The method of claim 1, wherein the new transaction data portion is at least one of a point-of-sale and a non-invoice transaction.

3. The method of claim 1, wherein the categorizing step comprises associating vendor names, services, or products to corresponding portions of the new transaction data portion.

4. A system for automatically posting substantially all transactions associated with a transaction account to a general ledger of an accounting product, comprising:

a storage device that stores categorized data; and

a comparing device that compares received recent transaction data associated with a transaction account to the stored categorized data and generates a new transaction data portion of the recent transaction data; and

a categorizing device that receives and categorizes the new transaction data portion and transmits the categorized new transaction to the storage device.

5. The system of claim 4, wherein the storage device is the general ledger.

6. The system of claim 4, wherein the storage device, the comparing device, and the categorizing device are part of the accounting product.

7. The system of claim 4, wherein the comparing device is coupled to a network.

8. The system of claim 7, wherein the network is a wired or wireless network.

9. The system of claim 4, wherein the categorizing device categorizes the new transaction data portion based on a respective vendor name, product, or service.

10. The system of claim 4, wherein the new transaction data portion is at least one of a point-of-sale and a non-invoice transaction.

11. A computer program product for automatically posting substantially all transactions associated with a transaction account into a general ledger of an accounting product, the computer program product comprising a computer usable medium having control logic stored therein, said control logic comprising:

first computer readable program code means for receiving recent transaction data associated with the transaction account;

second computer readable program code means for comparing the recent transaction data to stored and categorized transaction data in the general ledger to determine a new transaction data portion of the recent transaction data;

third computer readable program code means for categorizing the new transaction data portion; and

fourth computer readable program code means for storing the categorized new transaction data portion in the general ledger.