Automated accounting system

CAFC
  • US 5,875,435 A
  • Filed: 05/18/1998
  • Issued: 02/23/1999
  • Est. Priority Date: 09/28/1994
  • Status: Expired due to Term
First Claim
Patent Images

1. A method of providing financial accounting reports and statements for a first entity such as an individual or a business which comprises:

  • providing a menu of standardized codes, including financial transaction codes and/or itemization codes;

    conducting through other entities separate financial transactions, including transfer of funds and instructions for transfer of funds, with the first entity at a plurality of separate points;

    associating the standardized codes from the menu at the time when funds are transferred or instruction are given for transfer to complete the financial transaction;

    transmitting a record of each transaction and selected standardized codes to at least one separate financial accounting system at about the time of the transaction;

    sorting the transactions in the separate financial accounting system and producing an accounting statement in a desired format; and

    the separate financial accounting system printing or electronically displaying the statement results.

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