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Process for electronically maintaining financial records, especially for checkbook balancing and rectification

  • US 4,737,911 A
  • Filed: 06/07/1985
  • Issued: 04/12/1988
  • Est. Priority Date: 06/07/1985
  • Status: Expired due to Fees
First Claim
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1. A method of maintaining financial records, which comprises:

  • providing a user with a hand-held calculator unit having data entry means, memory means, calculating means, and display means;

    entering first data into said unit via said data entry means and storing said first data in said memory means, said first data concerning each of a plurality of financial transactions of the user and including first numeric data relating to checks written by the user on a checking account and deposits made by the user to the checking account;

    calculating, via said calculating means, and storing in said memory means, a first running balance dependent upon the totality of said first numeric data;

    providing second data, including second numeric data, concerning at least some of said financial transactions of the user, to a remote financial institution;

    storing said second data on a machine-readable record at said financial institution and also providing and storing on said record a second running balance dependent upon the totality of the second numeric data provided to said financial institution;

    transmitting said record from said financial institution to said user;

    machine-reading said record into said unit;

    electronically performing programmed data processing in said unit so as to produce outputs, said processing including comparing checks and deposits in said first data with checks and deposits, respectively, in said second data, comparing said first running balance with said second running balance, and determining and correcting any errors in said first running balance; and

    displaying at least some of said outputs on said display means.

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