Automatic recognition of periods for financial transactions
First Claim
1. A computer implemented method for recognizing a recurring financial transaction, comprising the steps of:
- (a) entering a plurality of parameters of a financial transaction into the computer as a new entry in a transactions database;
(b) searching for at least two prior entries in the transactions database having selected parameters that are substantially similar to corresponding parameters of the new entry; and
(c) if said at least two prior entries are found;
(i) determining time intervals between successive ones of said at least two prior entries and said new entry; and
(ii) comparing the time intervals with a plurality of different predetermined time periods to identify any recurring financial transaction, each of the different predetermined time periods corresponding to a recurring financial transaction at a different time interval.
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0 Petitions
Accused Products
Abstract
A new financial transaction is compared to prior entries in a database of prior financial transactions to identify a recurring transaction. Certain parameters of a new entry, entered either manually or by transfer of electronic data, are compared to corresponding entries in the database of financial transactions to determine if at least two similar prior entries can be found. A set of predefined rules is applied to determine whether two prior transactions are substantially similar to the new transaction. If two prior transactions are found that are substantially similar to the new transaction, a first and a second gap are determined. The first gap corresponds to the time interval between the new and the most recent of the two prior similar transactions, and the second gap corresponds to the time interval between the two prior similar transactions. If the first and second gaps match one of a plurality of predetermined time periods within a preset tolerance value, a recurring transaction for that time period is identified. The user is prompted to enter the recurring transaction into a payment calendar. The payment calendar is then used for selectively entering new transactions and for financial planning over a selected future time frame.
154 Citations
27 Claims
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1. A computer implemented method for recognizing a recurring financial transaction, comprising the steps of:
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(a) entering a plurality of parameters of a financial transaction into the computer as a new entry in a transactions database; (b) searching for at least two prior entries in the transactions database having selected parameters that are substantially similar to corresponding parameters of the new entry; and (c) if said at least two prior entries are found; (i) determining time intervals between successive ones of said at least two prior entries and said new entry; and (ii) comparing the time intervals with a plurality of different predetermined time periods to identify any recurring financial transaction, each of the different predetermined time periods corresponding to a recurring financial transaction at a different time interval. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. An article of manufacture adapted for distribution of a computer program, to enable the computer program to be executed on a computer, said computer program enabling a recognition of a recurring financial transaction when the computer program is executed by a computer, comprising:
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(a) a memory media; and (b) a plurality of machine instructions comprising the computer program, which are stored on the memory media, said plurality of machine instructions when executed by a computer, causing the computer to; (i) enable a user to enter a plurality of parameters of a financial transaction into the computer as a new entry in a transactions database; (ii) search for at least two prior entries in the transactions database having selected parameters that are substantially similar to corresponding parameters of the new entry; and (iii) if said at least two prior entries are found; (A) determining time intervals between successive ones of said at least two prior entries and said new entry; and (B) comparing the time intervals with a plurality of different predetermined time periods to identify any recurring financial transaction, each of the different predetermined time periods corresponding to a recurring financial transaction at a different time interval. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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19. A system for recognizing a recurring financial transaction, comprising:
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(a) a memory in which a plurality of machine instructions are stored; (b) a display; and (c) a processor that is coupled to the memory to access the machine instructions and to the display, said processor executing said machine instructions implementing a plurality of functions, including; (i) enabling a user to enter a plurality of parameters of a financial transaction into the computer as a new entry in a transactions database; (ii) searching for at least two prior entries in the transactions database having selected parameters that are substantially similar to corresponding parameters of the new entry; and (iii) if said at least two prior entries are found; (A) determining time intervals between successive ones of said at least two prior entries and said new entry; and (B) comparing the time intervals with a plurality of different predetermined time periods to identify any recurring financial transaction, each of the different predetermined time periods corresponding to a recurring financial transaction at a different time interval. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26, 27)
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Specification