Accounting Process

• US 20080262949A1
• Filed: 12/24/2004
• Published: 10/23/2008
• Est. Priority Date: 09/15/2004
• Status: Active Grant

• Current Assignee: Qwill SA (PTY) Limited
• Original Assignee: Paulo Froes
• Inventors: Bond, Warren, Van Der Walt, Bartholomeus
• Granted Patent: US 7,991,658 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A computerized accounting process and system capturing customer transaction data, creating transaction codes or references at the time of the transaction and generating accounting reports for the customer.

Claims

1-27. -27. (canceled)

28. A computerized system for generating a financial statement from bank-held accounts information, the system comprising:

a first part for a bank to capture inputted transaction data from a transaction source document, the captured transaction data relating to a banking transaction based on the transaction source document;

a second part used by the bank customer, at the time of the banking transaction, so that the bank customer inputs transaction codes identifying accounting interest characteristics of the transaction, the second part storing the input transaction codes, the input transaction codes being captured by the second part;

an accounting system connected to the first part and connected to the second part and accessing the captured transaction data and the captured transaction codes; and

the accounting system generating a financial statement utilizing the accessed captured transaction data and the accessed captured transaction codes in response to a computer request from one of the customer and the bank.

29. The system of claim 28, wherein, the financial statement is selectable by the bank to be any one of a detailed statement of transactions, a summarized financial information, an accounting report, a financial statement, a customer credit-worthiness report, income statements, a cash flow statement, a tax report, and balance sheets.

30. The system of claim 28, wherein,

the accounting system comprises stored customer accounting records, and

the accounting system generates the financial statement by synchronizing the captured transaction data with the stored customer accounting records.

31. The system of claim 28, wherein,

the captured transaction data of the first part includes journals and corrections,

the accounting system comprises stored customer accounting records, and

the accounting system generates the financial statement by synchronizing the captured transaction data with the stored customer accounting records to produce a corrected journal for the customer,

the accounting system exports the corrected journal to the bank and the customer.

32. The system of claim 28, wherein,

the second part and the first part are located at one of i) the same location, and ii) different locations remote from each other and telecommunicably linked.

33. The system of claim 28, wherein,

the first part, the second part, and the accounting system are tangibly embodied, on a program storage medium readable by a computer, as a program of instructions executable by the computer to control the computer to function as the first part, the second part and the accounting system.

34. The system of claim 28, wherein,

the first part and the second part are tangibly embodied, on a program storage medium readable by a computer, as a program of instructions executable by the computer to control the computer to function as the first part and the second part interactively with the accounting system.

35. The system of claim 28, wherein,

the first part is operatively connectable to a customer banking transaction source to capture the transaction data, and

the customer banking transaction source is one of a computer, a cell phone, an automatic teller machine, and a credit card machine.

36. The system of claim 28, wherein,

the first part comprises

i) a central controller including a central processing unit (CPU) and a memory operatively connected to the CPU,

ii) at least one terminal operable by the customer and adapted for communicating with the central controller,

the terminal transmitting the transaction data to the central controller.

37. The system of claim 28, wherein,

the customer is one of an individual and a business,

the financial statement is selectable by the customer to be any one of a detailed statement of transactions, a summarized financial information, an accounting report, and a financial statement.

38. The system of claim 28, wherein,

the first part with the captured transaction data and the second part with transaction codes identifying accounting interest characteristics of the captured transaction data are information stored in the same database.

39. The system of claim 28, wherein,

the first part with the captured transaction data and the second part with the transaction codes identifying accounting interest characteristics of the captured transaction data are telecommunicably linked.

40. The system of claim 28, wherein,

the accounting system is telecommunicably connected to the first part and telecommunicably connected to the second part and accessing the captured transaction data and the captured transaction codes telecommunicably.

41. The system of claim 28, wherein,

the first part with the captured transaction data and the second part with transaction codes identifying accounting interest characteristics of the captured transaction data are telecommunicably linked.

42. The system of claim 28, wherein,

the transaction codes identifying accounting interest characteristics of the captured transaction data include at least one of accounting transaction data and sales tax data, and are inserted as an additional reference field dedicated for the accounting system to generate the financial statement utilizing the accessed captured transaction data and the accessed captured transaction codes in response to the computer request from one of the customer and the bank.

43. The system of claim 28, wherein,

the transaction codes identifying accounting interest characteristics of the captured transaction data include at least one of accounting transaction data and sales tax data are inserted as an additional reference field dedicated for the accounting system to generate the financial statement utilizing the accessed captured transaction data and the accessed captured transaction codes in response to the computer request from one of the customer and the bank, the report being generated while reducing any bookkeeping processes from being carried out.

44. The system of claim 28, wherein, the financial statement is selectable by the customer to be any one of a detailed statement of transactions, a summarized financial information, an accounting report, a financial statement, a customer credit-worthiness report, income statements, a cash flow statement, a tax report, and balance sheets.

45. The system of claim 36, wherein,

the first part comprises the at least one terminal operable by the customer and adapted for communicating with the central controller located at a banking institution,

the at least one terminal may either proactively and reactively interact with the customer for entry of the transaction data.

46. The system of claim 28, wherein,

the transaction codes included at least one code entered by the customer in a field of a check or deposit slip for use as an additional reference field dedicated for the accounting system to generate the financial statement utilizing the accessed captured transaction data and the accessed captured transaction codes in response to the computer request from one of the customer and the bank, the report being generated while reducing any bookkeeping processes from being carried out.

47. The system of claim 28, wherein,

the first part with captured transaction data and the second part with transaction codes identifying accounting interest characteristics of the captured transaction data are information stored in different databases.

48. The system of claim 28, wherein,

the transaction codes included at least one code entered by the customer in a field identified for use as an additional reference field dedicated for the accounting system to generate the financial statement utilizing the accessed captured transaction data and the accessed captured transaction codes in response to the computer request from one of the customer and the bank, the report being generated while reducing any bookkeeping processes from being carried out, and

the at least one code entered by the customer in the field is an indication whether the banking transaction is subject to tax.

49. The system of claim 48, wherein the tax is one of a Value Added Tax, a general sales tax, and a tax other than the Value Added Tax and the general sales tax.

54. The system of claim 48, wherein,

the financial statement is selectable by either of the bank and the customer and is any one of a detailed statement of transactions, a summarized financial information, an accounting report, a financial statement, a customer credit-worthiness report, income statements, and balance sheets,

the first part comprises the at least one terminal operable by the customer and adapted for communicating with the central controller located at a banking institution, and

the at least one terminal may either proactively and reactively interact with the customer for entry of the transaction data.

50. A computerized system for generating a financial statement from bank-held accounts information, the system comprising:

a first part for a bank to capture inputted transaction data from a transaction source document, the captured transaction data relating to a banking transaction based on the transaction source document;

a second part used by the bank customer, at the time of the banking transaction, so that the bank customer inputs transaction codes identifying accounting interest characteristics of the transaction including inputting a code into a field dedicated for report generation, the second part storing the input transaction codes, the input transaction codes being captured by the second part;

an accounting system connected to the first part and connected to the second part and accessing the captured transaction data and the captured transaction codes; and

the accounting system generating a financial statement utilizing the accessed captured transaction data and the accessed captured transaction codes in response to a computer request from one of the customer and the bank,

wherein the code input into the field dedicated for report generation indicates whether the banking transaction is subject to tax, and is used as an additional reference field dedicated for the accounting system to generate the financial statement utilizing the accessed captured transaction data and the accessed captured transaction codes in response to the computer request from one of the customer and the bank, the report being generated while reducing any bookkeeping processes from being carried out.

51. The system of claim 50, wherein the tax is one of a Value Added Tax, a general sales tax, and a tax other than the Value Added Tax and the general sales tax.

52. The system of claim 51, wherein,

the accounting system is telecommunicably connected to the first part and telecommunicably connected to the second part and accessing the captured transaction data and the captured transaction codes telecommunicably.

53. The system of claim 52, wherein,

the first part with captured transaction data and the second part with transaction codes identifying accounting interest characteristics of the captured transaction data are telecommunicably linked.