Business transaction and investment growth monitoring data processing system

• US 5,210,687 A
• Filed: 02/15/1991
• Issued: 05/11/1993
• Est. Priority Date: 04/16/1987
• Status: Expired due to Fees

• Current Assignee: L & C Family Partnership
• Original Assignee: L & C Family Partnership
• Inventors: Rhoads, Jan E., Wolfberg, Brent A., Wolfberg, Larry
• Primary Examiner(s): Hayes, Gail O.
• Application Number:
  US07/655,990
• Time in Patent Office: 816 Days
• Field of Search: 364/408, 364/401
• US Class Current: 705/36.00R
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A data processing system is disclosed which monitors client'"'"'s business orders over time and based upon predetermined criteria determines the client'"'"'s vested interest in funds deposited into special client accounts. The business order data is stored in uniquely formatted client account files. In addition, a vesting account file stores summary data encompassing all the client files. The data processing system updates and keeps track of client'"'"'s vesting rights which are subject to change over time. The data processing system'"'"'s ability to track these and many other conditions is enhanced by a unique set of control status words which control software flow and which are utilized to visually flag important statuses.

Claims

1. A transaction tracking data processing system comprising:

a data entry and display terminal for entering client business transaction data and client account identification data;

a read/write memory for storing business transaction data in a plurality of client account files, each client account file being identifiable by said client account identification data;

a central processing unit for processing said business transaction data, said central processing unit including means for accessing at least one of said client account files and for retrieving client business transaction data relating to a predetermined time period, means for determining a cumulative business transaction related total for said predetermined time period for a plurality of client accounts, means for comparing a predetermined transaction related threshold with said transaction related total data;

means for determining a predetermined percentage of said business transaction total for said predetermined time period, and

means, responsive to said means for comparing, for storing in said read/write memory an indication of an amount of funds to be credited to at least one client account corresponding to said predetermined percentage of the business transaction total for said predetermined time period when said client business transaction total exceeds said predetermined threshold.

2. A transaction tracking data processing system according to claim 1, wherein said means for comparing is operable to determine whether said business transaction data reflects cumulative transaction over a predetermined dollar amount for said predetermined period of time.

3. A transaction tracking data processing system according to claim 1, wherein said means for comparing is operable to determine that said predetermined threshold has been exceeded for a predetermined period of time, and includes qualifying period recording means for storing an indication of the period of time over which said threshold has been exceeded.

4. A transaction tracking data processing system according to claim 3, including means responsive to said qualifying period recording means for storing an indication of accrued client vested rights in said at least one account, whereby said accrued vested rights are a function of the period of time the threshold has been exceeded.

5. A transaction tracking data processing system according to claim 4, wherein said read/write memory includes means for storing, each qualifying client, an indication of funds to be invested in a first account and a second account and wherein said means for storing an indication of accrued client vested right includes a first field for storing data reflecting funds which have become vested to the client in the first account, and a second field for storing data reflecting the credit available to said client based on said second account.

6. A transaction tracking data processing system according to claim 1, wherein said read/write memory unit includes means for storing, for each client whose client business transaction data exceeds said predetermined threshold, data reflecting an amount to be invested in a first vesting account, and in a second credit account.

7. A transaction tracking data processing system according to claim 1, wherein said read/write memory unit includes a plurality of client files, each of said client files organized in a predetermined format and including means for storing the data reflecting said amount of funds credited to said at least one client account, and qualification level indicating means for storing qualification level data related to the length of time the client'"'"'s business transaction data has exceeded said predetermined threshold.

8. A transaction tracking data processing system according to claim 7, wherein said memory means includes a vesting account file for storing summary data related to all client accounts.

9. A transaction tracking data processing system according to claim 1, wherein said control means further includes updating means responsive to increases in the length of time the client'"'"'s business transaction data has exceeded the predetermined threshold to update both the qualification level data and the data reflecting the amount to be vestee to the client in said at least one account.

10. A transaction tracking data processing system according to claim 7, wherein each client file further includes means for storing data reflecting an amount to be invested in said first vesting account, wherein funds may become entirely vested in the client, and said second credit account, wherein funds serve as collateral for client loads, said at least one client account including one of said first vesting account and said second credit account.

11. A transaction tracking data processing system according to claim 7, wherein said read/write memory unit means for storing data indicative of a client'"'"'s authorization to write checks drawn on said at least one account.

12. A transaction tracking data processing system according to claim 7, wherein said read/write memory unit includes means for storing data indicative of a client'"'"'s authorization to receive loans based on the amount of funds credited to said at least one account.

13. A transaction tracking data processing system according to claim 7, wherein said read/write memory unit includes means for storing data indicative of a client'"'"'s authorization to purchase goods under a current market value based on the amount of funds credited to said at least one account.

14. A transaction tracking data processing system according to claim 7, wherein said means for storing includes means for storing an indication of a life insurance benefit associated with said at least one account.

15. A transaction tracking data processing system according to claim 1, wherein said data entry terminal includes an associated display, said data entry terminal including means for entering an account status request, and wherein said control means including means for controlling the display to display data in a format corresponding to an account format stored in said read/write memory.

16. A business order transaction tracking data processing system comprising:

read/write memory for storing accumulated business transaction data relating to a plurality of clients, said transaction data being accessible by client account identification data;

a data entry terminal for entering said business transaction data and said client account identification data;

control means for accessing business transaction data from a client account file and for retrieving business transaction data accumulated during a predetermined time period;

means for comparing cumulative business transaction data over said predetermined time period with a predetermined threshold and for generating a qualify signal if said threshold is exceeded;

means responsive to said qualifying signal for storing data in said read/write memory representative of funds to be deposited in at least one client account; and

means for periodically transferring to said read/write memory at lest updated data representing funds to be deposited in said at least one client account as a function of predetermined increases in the period of time over which the client business transaction data has exceeded said predetermined threshold.

17. A transaction tracking data processing system according to claim 16, wherein said means responsive to said qualifying signal for storing records a) an indication of funds to be transferred to a first account and the portion of such funds which are fully vested to the client and b) an indication of funds to be transferred to a second account and the portion of such funds which may be borrowed by the client.

18. A transaction tracking data processing system according to claim 16, including qualifying period recording means for storing an indication of the period of time over which said predetermined criteria has been exceeded said means for periodically updating being responsive to said qualifying period recording means for storing an updated indication of accrued client vested rights in said at least one account, whereby said accrued vested right are a function of the period of time during which the predetermined criteria has been exceeded.

19. A transaction tracking data processing system according to claim 18, wherein said read/write memory includes means for storing for each qualifying client, an indication of the funds to be invested in a first account and a second account, and wherein said means for storing an indication of accrued client vested rights includes a first field for storing data indicative of the funds which have become vested in the client in the first account, and a second field for storing data indicative of credit available to said client based on said second account.

20. A transaction tracking data processing system according to claim 16, wherein each of said client account files are organized in a predetermined format and includes means for storing the data indicative of the amount invested in said at least one client account, and qualification level indicating means for storing data related to the length of time the client'"'"'s business transaction data has exceeded said predetermined threshold.

21. A transaction tracking data processing system according to claim 20, wherein said read/write memory includes a vesting account file for storing summary data related to all client accounts.

22. A transaction tracking data processing system according to claim 16, wherein said data entry terminal includes an associated display, said data entry terminal including means for entering an account status request, said read/write memory including means for storing client accounts in a predetermined account file format, and said control means including means for controlling the display to display data in a format corresponding to the account file format stored in said read/write memory.

23. A transaction tracking data processing system comprising:

a data entry terminal for entering said business transaction data and said client account identification data;

a read/write memory for storing business transaction data in a plurality of client account files, each client account file being identifiable by said client account identification data and including means for storing an indication of funds to be invested in a first client account and a second client account;

control means for processing said business transaction data including;

means for accessing at least one of said client account files and for retrieving client business transaction data,

means, responsive to said business transaction data, for determining the amount of funds to be allocated to said first client account and to second client account,

means for determining for each client when a client has vested right in one of said first client account and said second client account; and

status indicating means for storing an indication of said vested rights.

24. A transaction tracking system according to claim 23, wherein said indication of said vested rights in stored in a predetermined control status word.

25. A transaction tracking data processing system according to claim 23, wherein said read/write memory includes means for storing data indicative of a client'"'"'s authorization to write checks drawn on said at least one of said first account and said second account.

26. A transaction tracking data processing system according to claim 23, wherein said read/write memory unit includes means for storing data indicative of a client'"'"'s authorization to receive loans based on the amount of funds credited to said at least one of said first account and said second account.

27. A transaction tracking data processing system according to claim 23, wherein said read/write memory includes means for storing an indication of a life insurance benefit associated with said at least one of said first account and said second account.