AUTOMATED CASH RECONCILIATION AND REPORTING SYSTEM AND METHOD
First Claim
1. A system for reconciling financial transactions, the system comprising:
- one or more processors configured to;
retrieve first financial data from a first data source, the first financial data containing one or more first records, each containing at least a first name, a first date, and a first monetary amount;
retrieve second financial data from a second data source, the second financial data containing one or more second records, each containing at least a second name, a second date, and a second monetary amount;
attempt to match one of the first records with one of the second records based on (i) equivalence of the first name, or a possible alias of the first name, and the second name, (ii) equivalence within tolerance of the first date and the second date, and (iii) equivalence within tolerance of the first monetary amount and the second monetary amount;
responsive to any of the first records and the second records remaining unmatched, attempt to match two or more of the second records with one of the first records based on (i) equivalence of the first name, and/or possible aliases of the first name, and the second names, (ii) equivalence within tolerance of the first date and the second dates, and (iii) equivalence within tolerance the first monetary amount and a sum of the second monetary amounts; and
responsive to any of the first records and the second records remaining unmatched, attempt to match two or more of the first records with one of the second records based on (i) equivalence of the first names and the second name, (ii) equivalence within tolerance of the first dates and the second date, and (iii) equivalence within tolerance of the sum of the first monetary amounts and the second monetary amount.
1 Assignment
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Accused Products
Abstract
A system for reconciling financial data is configured to retrieve first and second financial data from respective data sources. The first and second financial data each contains one or more respective records, each containing a respective name, date, and monetary amount. The system attempts to match one of the first records with one of the second records, initially based on general equivalence of the names, dates, and the first and second monetary amounts. If any of the records remain unmatched, the system is configured to attempt to match two or more of the second records with one of the first records, utilizing the sum of the second monetary amounts, and attempt to match two or more of the first records with one of the second records based on the sum of the first monetary amounts.
22 Citations
20 Claims
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1. A system for reconciling financial transactions, the system comprising:
one or more processors configured to; retrieve first financial data from a first data source, the first financial data containing one or more first records, each containing at least a first name, a first date, and a first monetary amount; retrieve second financial data from a second data source, the second financial data containing one or more second records, each containing at least a second name, a second date, and a second monetary amount; attempt to match one of the first records with one of the second records based on (i) equivalence of the first name, or a possible alias of the first name, and the second name, (ii) equivalence within tolerance of the first date and the second date, and (iii) equivalence within tolerance of the first monetary amount and the second monetary amount; responsive to any of the first records and the second records remaining unmatched, attempt to match two or more of the second records with one of the first records based on (i) equivalence of the first name, and/or possible aliases of the first name, and the second names, (ii) equivalence within tolerance of the first date and the second dates, and (iii) equivalence within tolerance the first monetary amount and a sum of the second monetary amounts; and responsive to any of the first records and the second records remaining unmatched, attempt to match two or more of the first records with one of the second records based on (i) equivalence of the first names and the second name, (ii) equivalence within tolerance of the first dates and the second date, and (iii) equivalence within tolerance of the sum of the first monetary amounts and the second monetary amount. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A computer-implemented method for reconciling financial transactions, the method comprising:
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retrieving, via one or more processors, first financial data from a first data source, the first financial data containing one or more first records, each containing at least a first name, a first date, and a first monetary amount; retrieving, via the one or more processors, second financial data from a second data source, the second financial data containing one or more second records, each containing at least a second name, a second date, and a second monetary amount; attempting to match one of the first records with one of the second records based on (i) equivalence of the first name, or an alias of the first name, and the second name, (ii) equivalence within tolerance of the first date and the second date, and (iii) equivalence within tolerance of the first monetary amount and the second monetary amount; responsive to any of the first records and the second records remaining unmatched, attempting to match two or more of the second records with one of the first records based on (i) equivalence of the first name, and/or aliases of the first name, and the second names, (ii) equivalence within tolerance of the first date and the second dates, and (iii) equivalence within tolerance the first monetary amount and a sum of the second monetary amounts; and responsive to any of the first records and the second records remaining unmatched, attempting to match two or more of the first records with one of the second records based on (i) equivalence of the first names and the second name, (ii) equivalence within tolerance of the first dates and the second date, and (iii) equivalence within tolerance of the sum of the first monetary amounts and the second monetary amount. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19, 20)
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Specification