Systems and Methods for Financial Reimbursement
First Claim
1. An efficient computer-assisted method for reimbursement of expenses comprising the steps of:
- providing a computer system capable of tracking accounts, incurred expenses and documentation for the incurred expenses;
incurring an expense;
recording the incurred expense on the computer system;
allocating the incurred expense to an account corresponding to a reimbursable account;
documenting the incurred expense;
recording documentation of the incurred expense on the computer system;
linking the documentation of the incurred expense to the incurred expense on the computer system;
submitting the documented incurred expense for reimbursement; and
providing reimbursement for the incurred expense based on the recorded expense and the linked documentation.
1 Assignment
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Accused Products
Abstract
The present invention relates to a financial software module or process for tracking, allocating, documenting, and facilitating the reimbursement of expenses. The module or process includes budgeting, incurring, recording, and tracking expenses, allocating expenses for reimbursement, documenting expenses, and facilitating the reimbursement of the expenses.
The initial receipt of expenses may occur automatically or manually, and expenses are tracked more easily as the expenses may be entered and tracking may begin as soon as the expenses are incurred. Documentation of received and tracked expenses may be provided and linked to the tracked expenses. Because expenses may be tracked and documented immediately upon incurring the expenses, the reimbursement of the expenses is facilitated and accelerated. The module or process works equally well with cash expenditures, and allows for the continual monitoring of budgets from multiple accounts to prevent unknowing overspending beyond budgeted amounts.
49 Citations
20 Claims
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1. An efficient computer-assisted method for reimbursement of expenses comprising the steps of:
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providing a computer system capable of tracking accounts, incurred expenses and documentation for the incurred expenses; incurring an expense; recording the incurred expense on the computer system; allocating the incurred expense to an account corresponding to a reimbursable account; documenting the incurred expense; recording documentation of the incurred expense on the computer system; linking the documentation of the incurred expense to the incurred expense on the computer system; submitting the documented incurred expense for reimbursement; and providing reimbursement for the incurred expense based on the recorded expense and the linked documentation. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A method for managing financial resources in an automated fashion comprising:
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establishing a plurality of virtual financial accounts, wherein the virtual financial accounts include direct transaction accounts corresponding to personal expenses and reimbursement accounts corresponding to reimbursable expenses; budgeting and allocating a given amount of funding for each of the direct transaction accounts; budgeting and allocating a given amount of funding for each of the reimbursement accounts; incurring an expense; recording the expense; documenting the incurred expense; linking the documentation of the incurred expense and the recorded expense; allocating the expense to one of the direct transaction accounts if the expense is a personal expense and to one of the reimbursement accounts if it is a reimbursable expense; updating the budgeted and allocated amount of the account to which the expense is allocated according to the allocated expense; submitting the documented incurred expense for reimbursement if the documented incurred expense is a reimbursable expense; and providing reimbursement for the incurred expense based on the recorded expense and the linked documentation if the expense is a reimbursable expense. - View Dependent Claims (19, 20)
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Specification