System and Method for Reconciling One or More Financial Transactions
First Claim
1. A method for reconciling one or more financial transactions of one or more business units, the method comprising the steps of:
- a. capturing transaction data from the one or more financial transactions, the one or more financial transactions having one or more data formats, the capturing being performed using a first set of data logics, the capturing comprisingi. extracting the transaction data from the one or more financial transactions using one or more import templates, andii. transforming the extracted transaction data to a predefined format; and
b. auto-matching the captured transaction data using master data, the auto-matching being performed using one or more auto-match logics.
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Accused Products
Abstract
A system, method and computer program product for reconciling one or more financial transactions of one or more business units. The method includes capturing transaction data from the financial transactions using a first set of data logics. The capturing further includes extracting the transaction data from the financial transactions using import templates and transforming the extracted transaction data to a predefined format, using a first set of validations. The captured transaction data is then auto-matched with master data as reference, using one or more auto-match logics and a second set of validations. One or more reports are then generated on the auto-matched transaction data. The method further includes providing user privileges for controlling the capturing, the auto-matching, and the generation of the one or more reports according to a first predefined criterion.
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Citations
22 Claims
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1. A method for reconciling one or more financial transactions of one or more business units, the method comprising the steps of:
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a. capturing transaction data from the one or more financial transactions, the one or more financial transactions having one or more data formats, the capturing being performed using a first set of data logics, the capturing comprising i. extracting the transaction data from the one or more financial transactions using one or more import templates, and ii. transforming the extracted transaction data to a predefined format; and b. auto-matching the captured transaction data using master data, the auto-matching being performed using one or more auto-match logics. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for reconciling one or more financial transactions of one or more business units, the system comprising:
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a. a capturing component, the capturing component capturing transaction data from the one or more financial transactions, the one or more financial transactions having one or more data formats, the capturing component executing a first set of data logics, the capturing component comprising i. an extraction component, the extraction component extracting the transaction data from the one or more financial transactions using one or more import templates, and ii. a formatting component, the formatting component transforming the extracted transaction data to a predefined format; and b. a matching component for automatically matching the captured transaction data using master data, the matching component executing one or more auto-match logics. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19)
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20. A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to reconcile one or more financial transactions of one or more business units, said control logic comprising:
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first computer readable program code means for causing the computer to capture transaction data from the one or more financial transactions, the one or more financial transactions having one or more data formats, the capturing being performed using a first set of data logics, the capturing comprising extracting the transaction data from the one or more financial transactions using one or more import templates, and transforming the extracted transaction data into a predefined format; and second computer readable program code means for causing the computer to auto-match the captured transaction data using master data, the auto-matching being performed using one or more auto-match logics. - View Dependent Claims (21, 22)
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Specification