Personal account tracking system

• US 5,630,073 A
• Filed: 07/25/1994
• Issued: 05/13/1997
• Est. Priority Date: 07/25/1994
• Status: Expired due to Fees

• Current Assignee: Jon D. Nolan
• Original Assignee: Jon D. Nolan
• Inventors: Nolan, Jon D.
• Primary Examiner(s): McElheny, Jr., Donald E.
• Application Number:
  US08/279,415
• Time in Patent Office: 1,023 Days
• Field of Search: 364/401, 364/408, 364/401 R, 283/58, 235/379
• US Class Current: 705/45
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A system including both apparatus and a method enables individuals and small businesses to use checks and deposit slips for the purpose of tracking specific expenditures, income, assets, and liability items for budgetary or tax purposes. The checks or bank drafts are provided blanks for entering machine readable data. The system including apparatus for reading the data, processing it, and reporting results to the payor.

Claims

1. A system for enabling automated entry of transaction data into a data base for the purpose of tracking specific expenditures, income, assets, and liability items, comprising:

negotiable instrument means including a tangible medium which carries payment order means for enabling a first party to order a second party to pay a third party for a purchase;

machine readable means on said negotiable instrument means for enabling the first party to manually enter information concerning said payment, other than an amount of said payment, on said negotiable instrument means during preparation of the order by the first party;

automatic reading means for automatically reading said information and entering said information into a database; and

information processing means for processing said information for use by the first party.

2. A system as claimed in claim 1, wherein said tangible medium is a check.

3. A system as claimed in claim 2, further comprising manual entry means for manually entering said information concerning said payment.

4. A system as claimed in claim 3, wherein said manual entry means is a writing instrument.

5. A system as claimed in claim 1, wherein said automatic reading means is an optical scanner.

6. A system as claimed in claim 1, wherein said information processing means includes a personal computer and an accounting program.

7. A system as claimed in claim 1, further comprising means for displaying results of said processing.

8. A system as claimed in claim 7, wherein said display means comprises a printer and paper.

9. A system as claimed in claim 1, further comprising means including a printer for generating said negotiable instrument means and said machine readable means.

10. A system for enabling automated entry of transaction data into a data base for the purpose of tracking specific expenditures, income, assets, and liability items, comprising:

deposit slip means including a deposit slip which carries deposit order means for ordering a second party to deposit funds into an account owned by a first party;

machine readable means on said deposit slip for enabling the first party to manually enter information concerning said deposit, other than an amount of said deposit, on said deposit slip during preparation of the order by the first party;

automatic reading means for automatically reading said information and entering said information into a database; and

information processing means for processing said information for use by the first party.

11. A method of automatically entering transaction data into a data base for the purpose of tracking expenditures, income, assets, and liability items, comprising the steps of:

providing machine-readable means for entering machine-readable transaction data, other than data concerning an amount of payment or deposit, on a check or deposit slip;

manually entering the data on said machine-readable means;

transferring the check or deposit slip from the payor or depositor for the purpose of causing funds to be transferred to or from an account;

transferring the check or deposit slip back to the payor or depositor after said funds have been transferred;

after transfer back to the payor or depositor, using a machine to read and convert the data into electronic form for further processing and storage in said database; and

processing said information for use by the first party.

12. A method as claimed in claim 11, wherein the step of entering the data comprises the step of using a writing instrument to fill in blanks printed on the check or deposit slip.

13. A method as claimed in claim 12, wherein said step of reading and converting the data comprises the step of optically scanning the check or deposit slip.

14. A method as claimed in claim 11, further comprising the step of reporting results of said processing.

15. A method as claimed in claim 14, wherein the step of reporting comprises the step of printing a report of expenditures by category and providing said report to a payor of said check.

16. A method as claimed in claim 11, further comprising the steps of printing said check and said machine-readable means, and delivering the check to a payor of the check.

17. A method as claimed in claim 16, further comprising the step of causing a vendor of said check to carry out said step of reading and converting the data, and also to maintain said data base for the benefit of said payor.

18. A method as claimed in claim 16, further comprising the step of providing the payor with an optical scanner for reading said data.

19. A method as claimed in claim 11, further comprising the step of providing a payor of the check with means for printing said check and for printing said machine-readable means on said check.

20. A device for conveying transaction data to a data base, comprising:

negotiable instrument/deposit slip means including a tangible medium which carries an order for transferring funds to or from a bank account;

machine readable means on said negotiable instrument/deposit slip means for enabling a holder of the bank account to manually enter information concerning said order;

other than an amount of funds transferred, on said negotiable instrument/deposit slip means during preparation of said order, whereby said information upon entry is thereby placed in a form in which it can be automatically read into a database in order to track categories of expenditures, income, assets and liability items of said account holder; and

means for retrieving said information from the data base for use by the account holder.