System and method for account reconciliation
First Claim
1. A computer implemented account reconciliation method for reconciling a plurality of merchant transactions with a plurality of financial account transactions, comprising:
- authorizing, by a processor, access to said plurality of merchant transactions stored in a merchant database, wherein each of said plurality of merchant transactions includes a first amount and first data, wherein said first data relates to non-monetary information; and
authorizing, by said processor, access to said plurality of financial account transactions stored in a financial database, wherein said plurality of financial account transactions includes a first charge and a second charge, wherein said second charge is associated with a change to one of said plurality of merchant transactions in said merchant database;
wherein said first charge is matched to said first amount of one of said plurality of merchant transactions in said merchant database, and said first charge is assigned to a department code by writing said department code to a field corresponding to said first charge in said financial database, wherein said department code is part of a plurality of department codes, wherein each of said department codes are associated with a type of merchant transaction, and wherein said second charge in said financial database is associated with said first data of said one of said plurality of merchant transactions in said merchant database, wherein said plurality of merchant transactions does not include said second charge, and wherein said second charge is assigned to said department code associated with said one of said plurality of merchant transactions.
3 Assignments
0 Petitions
Accused Products
Abstract
An account reconciliation system having a particular usefulness in the reconciliation of centrally billed accounts and more specifically, in the reconciliation of centrally billed accounts in the travel industry is provided. The system and methods of the present invention expand on the traditional match/non-match techniques and provide complete transaction management for every item on a client'"'"'s account. In another sense, reconciliation is redefined to include each and every transaction on an account regardless of it'"'"'s reconciliation status, i.e., matched, unresolved, pending, etc. Consequently, the present invention reconciles the client'"'"'s account to the account balance.
42 Citations
18 Claims
-
1. A computer implemented account reconciliation method for reconciling a plurality of merchant transactions with a plurality of financial account transactions, comprising:
-
authorizing, by a processor, access to said plurality of merchant transactions stored in a merchant database, wherein each of said plurality of merchant transactions includes a first amount and first data, wherein said first data relates to non-monetary information; and authorizing, by said processor, access to said plurality of financial account transactions stored in a financial database, wherein said plurality of financial account transactions includes a first charge and a second charge, wherein said second charge is associated with a change to one of said plurality of merchant transactions in said merchant database; wherein said first charge is matched to said first amount of one of said plurality of merchant transactions in said merchant database, and said first charge is assigned to a department code by writing said department code to a field corresponding to said first charge in said financial database, wherein said department code is part of a plurality of department codes, wherein each of said department codes are associated with a type of merchant transaction, and wherein said second charge in said financial database is associated with said first data of said one of said plurality of merchant transactions in said merchant database, wherein said plurality of merchant transactions does not include said second charge, and wherein said second charge is assigned to said department code associated with said one of said plurality of merchant transactions. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
-
-
17. A tangible computer-readable medium having stored thereon a plurality of instructions, when executed by a processor, perform a method of providing account reconciliation for an account comprising:
-
authorizing, by said processor, access to said plurality of merchant transactions stored in a merchant database, wherein each of said plurality of merchant transactions includes a first amount and first data, wherein said first data relates to non-monetary information; and authorizing, by said processor, access to said plurality of financial account transactions stored in a financial database, wherein said plurality of financial account transactions includes a first charge and a second charge, wherein said second charge is associated with a change to one of said plurality of merchant transactions in said merchant database; wherein said first charge is matched to said first amount of one of said plurality of merchant transactions in said merchant database, and said first charge is assigned to a department code by writing said department code to a field corresponding to said first charge in said financial database, wherein said department code is part of a plurality of department codes, wherein each of said department codes are associated with a type of merchant transaction, and wherein said second charge in said financial database is associated with said first data of said one of said plurality of merchant transactions in said merchant database, wherein said plurality of merchant transactions does not include said second charge, and wherein said second charge is assigned to said department code associated with said one of said plurality of merchant transactions.
-
-
18. A computerized system for reconciling a plurality of merchant transactions with a plurality of financial account transactions, said system comprising:
-
a network interface communicating with a memory; said memory communicating with a processor; and said processor, when executing a computer program, is configured to; receive authorization to access said plurality of merchant transactions in a merchant database, wherein each of said plurality of merchant transactions includes a first amount and first data, wherein said first data relates to non-monetary information; receive authorization to access said plurality of financial account transactions in a financial database, wherein said plurality of financial account transactions includes a first charge and a second charge, wherein said second charge is associated with a charge to one of said plurality of merchant transactions; match said first charge to said first amount of one of said plurality of merchant transactions; assign said first charge to a department code by writing said department code to a field corresponding to said first charge in said financial database, wherein said department code is part of a plurality of department codes, wherein each of said plurality of department codes are associated with a type of merchant transaction; associate said second charge in said financial database with said first data of said one of said plurality of merchant transactions in said merchant database, wherein said plurality of merchant transactions in said merchant database does not include said second charge; and
,assign said second charge in said financial database to said department code associated with said one of said plurality of merchant transactions in said merchant database.
-
Specification