Electronic checkbook with automatic reconciliation
First Claim
1. A device for monitoring and processing checking account transactions, comprising:
- first processing means for storing a first set of data corresponding to checking account information;
second processing means for storing a second set of data corresponding to said checking account transaction information;
first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time;
comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data;
electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data;
second communication means for communicating data, including said identified discrepancies, from said discrepancy identification means to said first processing means;
electronic and automatic display means associated with said first processing means for electronically and automatically displaying said identified discrepancies; and
electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data,electronic validation means operatively connected to comparison means and first and second communication means for giving the user an authorized validation message when the account is reconciled.
0 Assignments
0 Petitions
Accused Products
Abstract
An apparatus for reconciling checking account and other transaction data including first and second data reconciliation control units, each including associated memory, data transference/communication channels for facilitating two-way data communication between the first and second data reconciliation control units, data comparison circuitry, data discrepancy identification circuitry, data editing circuitry and data display circuitry. Data stored in the first memory is compared with data stored in the second memory and discrepancies are identified and if desired the first data set is automatically revised to conform to the second data set. The system gives the user an authorized validation message when the account is reconciled. It also provides for pre-reconciliation error detecting and float projecting for estimating real balances based upon typical transaction clearing delays.
-
Citations
20 Claims
-
1. A device for monitoring and processing checking account transactions, comprising:
-
first processing means for storing a first set of data corresponding to checking account information; second processing means for storing a second set of data corresponding to said checking account transaction information; first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time; comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data; second communication means for communicating data, including said identified discrepancies, from said discrepancy identification means to said first processing means; electronic and automatic display means associated with said first processing means for electronically and automatically displaying said identified discrepancies; and electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data, electronic validation means operatively connected to comparison means and first and second communication means for giving the user an authorized validation message when the account is reconciled. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
-
-
12. A system for processing checking account data stored in a host computer, said system comprising:
-
a first memory means for storing a first data set; a substantially real time, electronic transmission means for transmitting said first data set in substantially real time; a processing device operably connected with said host computer and said substantially real time transmission means, said processing device having comparison means for electronically comparing said checking account data with said first data set transmitted in substantially real time by said transmission means; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between datum of said checking account data and datum of said first data set transmitted by said transmission means; electronic and automatic editing means operably connected with said first memory means, said electronic and automatic editing means being responsive to said electronic and automatic discrepancy identification means for electronically and automatically revising said first data set transmitted by said transmission means to conform with said checking account data; electronic validation means operatively connected to comparison means and transmission means for giving the user an authorized validation message when the account is reconciled. - View Dependent Claims (13)
-
-
14. A system for evaluating a first and a second set of individual bank account transaction data, said system comprising:
-
a first bank account processing means for processing said first set of individual bank account transaction data; a substantially real time bidirectional transmitting means for transmitting, in substantially real time, bank account data to and from said first and second bank account processing means; a second processing means having receiving means operable for receiving said first set of individual bank account transaction data transmitted by said transmitting means; a second bank account processing means for processing said second set of individual bank account transaction data; a comparing means, operatively connected to said transmitting means, said comparing means for electronically comparing individual bank account transaction data of said first set with individual bank account transaction data of said second set; discrepancy identification means, responsive to said comparing means for identifying discrepancies between individual bank account transaction data of said first set and individual bank account transaction data of said second set; electronic validation means operatively connected to comparing means and transmitting means for giving the user an authorized validation message when the account is reconciled; and transaction identification means, for identifying the individual bank account transaction data between which said discrepancy identification means identified a discrepancy. - View Dependent Claims (15, 16, 17)
-
-
18. A system for operating a first memory means which stores a first checking account transaction data set, a second memory means which stores a second checking account transaction data set, and an electronic and automatic comparing means, operatively connected with the first and second memory means said system comprising the steps of:
-
communicating, in substantially real time, said first and second checking account transaction data sets from the first and second memory means to the electronic and automatic comparing means; electronically and automatically comparing said first and second transaction data sets in said electronic and automatic comparing means; electronically and automatically identifying discrepancies between said first and second checking account transaction data sets upon electronically and automatically comparing said first and second checking account transaction data sets; displaying said identified discrepancies on a display means; electronically and automatically revising said first checking account transaction data set to correspond with said second checking account transaction data set; communicating said revised first checking account transaction data set to said first memory means; and storing said revised first checking account transaction data set in said first memory means; electronically validating the accuracy of the reconciliation by sending an authorized validation message to the user to be displayed on a display means.
-
-
19. A device for monitoring and processing checking account transactions, comprising:
-
first processing means for storing a first set of data corresponding to checking account information; second processing means for storing a second set of data corresponding to said checking account transaction information; first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time; comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data; second communication means for communicating data, including said identified discrepancies, from said discrepancy identification means to said first processing means; electronic and automatic display means associated with said first processing means for electronically and automatically displaying said identified discrepancies; and electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data, wherein the second data set is daily or continuously updated; and pre-reconciliation user paper check writing error sensing means associated with second processing means and pre-reconciliation first data set data entry error sensing means associated with the second processing means operatively connected to the second data set and the first data set updated at last reconciliation for sensing problems caused by check writing errors and first data set data entry errors even though those errors have not yet resulted in additional fees, fines or other adverse consequences to the user and even if the user is not in contact with the bank, and for generating a warning condition if a future problem is sensed; pre-reconciliation future overdraft sensing means at host operatively connected to the daily or continuously updated second data set and first data set as updated at last reconciliation for detecting many overdraft conditions before they occur; pre-reconciliation warning communication means for notifying a user of the system of a warning condition.
-
-
20. A device for monitoring and processing checking account transactions, comprising:
-
first processing means for storing a first set of data corresponding to checking account information; second processing means for storing a second set of data corresponding to said checking account transaction information; first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time; comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data; second communication means for communicating data, including said identified discrepancies from said discrepancy identification means to said first processing means; electronic and automatic display means associated with said first processing means electronically and automatically displaying said identified discrepancies; and electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data; and calendar means for keeping up with the data, clock means for keeping up with the time and float projection means operatively connected to first data set and calendar means for calculating an estimated real balance at the bank based upon typical transaction clearing delays.
-
Specification