US20160042468A1 - Modified cash ledger basis for an accounting system and process - Google Patents

Modified cash ledger basis for an accounting system and process Download PDF

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Publication number
US20160042468A1
US20160042468A1 US14/544,385 US201414544385A US2016042468A1 US 20160042468 A1 US20160042468 A1 US 20160042468A1 US 201414544385 A US201414544385 A US 201414544385A US 2016042468 A1 US2016042468 A1 US 2016042468A1
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Prior art keywords
ledger
cash
accounting
statutory
ledgers
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English (en)
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Ahmed Farouk Shaaban
Venkat Thandra
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Individual
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Individual
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Priority to US14/544,385 priority Critical patent/US20160042468A1/en
Priority to BR112017001706A priority patent/BR112017001706A2/pt
Priority to AU2015298319A priority patent/AU2015298319A1/en
Priority to EP15828282.2A priority patent/EP3172707A4/en
Priority to EP21172099.0A priority patent/EP3907690A1/en
Priority to CN201580051673.2A priority patent/CN107430744B/zh
Priority to PCT/US2015/040657 priority patent/WO2016018632A2/en
Publication of US20160042468A1 publication Critical patent/US20160042468A1/en
Priority to US15/465,250 priority patent/US10896470B2/en
Abandoned legal-status Critical Current

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    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/12—Accounting
    • H—ELECTRICITY
    • H04—ELECTRIC COMMUNICATION TECHNIQUE
    • H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
    • H04L9/00—Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols
    • H04L9/06—Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols the encryption apparatus using shift registers or memories for block-wise or stream coding, e.g. DES systems or RC4; Hash functions; Pseudorandom sequence generators
    • H04L9/0643—Hash functions, e.g. MD5, SHA, HMAC or f9 MAC
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/382—Payment protocols; Details thereof insuring higher security of transaction
    • G06Q20/3829—Payment protocols; Details thereof insuring higher security of transaction involving key management
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/389—Keeping log of transactions for guaranteeing non-repudiation of a transaction
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/40—Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
    • G06Q20/401—Transaction verification
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q2220/00—Business processing using cryptography
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q2220/00—Business processing using cryptography
    • G06Q2220/10—Usage protection of distributed data files
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/02—Banking, e.g. interest calculation or account maintenance
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/06—Asset management; Financial planning or analysis

Definitions

  • the exemplary and non-limiting embodiments of the present invention relate generally to the field of a business method and process concerning the basis of accounting for any professional firm, including, in particular, a method for providing a combination of accrual and cash accounting, a system that has the ability to maintain multiple Modified Cash Ledgers plus the ability to post transactions to the Management Cash Ledger based on preselected criteria.
  • U.S. Pat. No. 8,543,476 is disclosed a system and method for cash based accounting in a general ledger wherein the system will post a payment, which contains at least one line item to a bank account and simultaneously this transaction will automatically clear a business partner account by posting the payment into the database.
  • This method may also include determining a revenue account from the cleared business partner account and additionally clearing the at least one line item therefrom.
  • a cash ledger is provided together with a clearing account and both may be simultaneously updated. This method is unlike the present invention, because the present invention adds to the prior art in several areas, including the inventive features of providing sets of rules for transferring items into a plurality of accounts simultaneously and updating transactions therein.
  • this patent discloses the use of a method for reposting transactional documents wherein a new transaction document is generated in response to a command to edit the original transaction document. Next, the new document is modified and saved as such. The original postings are then nullified.
  • the changes are done by the user of the system, there is no true automation by which a set of rules and/or coding can modify, alter or even ignore an event, and this disclosure is not at all concerned with larger companies handling a plurality of management reports in a plurality of currencies.
  • the disclosure is primarily focused to allow users to alter and change accounting transactions, while at the same time preserving the original data entered so as to ensure database integrity for auditing and tax purposes.
  • the prior art there are systems in the field of a business method and process related to the basis of accounting for any professional firm; however, the prior art does not provide for a system or method as the present invention.
  • the prior art clearly lacks a method for providing a combination of accrual and cash accounting, a system that has the ability to maintain multiple parallel ledgers including modified cash ledgers, statutory accrual ledgers, and statutory cash ledgers, with the ability to post transactions from the Leading Ledger to the Modified Cash Ledger based on preselected criteria while posting in real time to the Statutory Accrual and Statutory Cash Ledgers. This has never been done before on any system, including an ERP system or various other similar systems until development of the present inventive system.
  • the present invention consists of a system and method comprising a process to provide an accounting basis including cash and accrual ledgers in an efficient and simple to use manner.
  • the present invention may be implemented on any conventional or on any general purpose computer system not limited to: desk top computers, laptop computers, tablets, or cell phones and the like.
  • a keyboard and mouse can be used for introducing user input to the computer system and communicating that user input to the CPU.
  • the computer system may also include main memory, video memory, and mass storage, which may be shared on a network, or it may comprise a dedicated mass storage, application server or cloud-based system.
  • the inventive computer system described above is for purposes of one example of a preferred embodiment only.
  • the present invention may be implemented manually or in any type of computer system or programming or processing environment and on a wide variety of CPU's, including solid state and/or EEPROM based systems.
  • the Modified Cash Ledger Basis of Accounting comprises a highly efficient and easy to use process providing for a combination of accrual and cash accounting that can be enabled on ERP systems, as well as a wide variety of other systems commonly employed in the relevant marketplace. Because this accounting basis is primarily for use in professional firms, including but not limited to: professional services firms such as accounting firms, law firms, architecture firms and the like many of which manage their accounting on systems such as ERP or similar systems, this invention will allow for a vastly improved streamlined, cost effective and proprietary accounting process.
  • the Modified Cash Ledger Basis for an Accounting System and Process allows for consolidated reporting for firms or other business entities as well as their local offices.
  • the present invention provides for an improved accounting system and method which allows for real time updating of statutory accrual ledgers and statutory cash ledgers for local office needs, while maintaining in real time a management cash ledger capable of recording all posts of each firm or office for the management ledger.
  • one primary objective of the present invention is to provide a firm, company or other professional or business entity the ability to achieve one or more of the following preferred goals: provide an improved and modified accounting system and method capable of recording transactions on both cash and accrual basis, which is able to enhance the firm's ability to manage and provide data in a harmonized, consolidated fashion in all cities and countries in which the firm conducts business by providing income and expense data displayable in a plurality of currencies which are updated at set intervals. For example, this data may be updated several times a day, daily, weekly or other set interval, or it can be set to update in real time.
  • Another primary objective of the present invention is to increase efficiency and profitability of a company or other business entity by reducing the local and global costs associated with maintaining disparate systems and processes among differing companies and firms by providing a consolidated system utilizing standardized ledgers between locations.
  • a consolidated global system eliminates data redundancy, and is more expedient and cost effective.
  • the present invention provides for the ability for the Management Cash Ledger to maintain all the local office ledgers (cash and accrual) in one ledger in real time.
  • Still yet a further primary objective of the present invention is to provide a Modified Cash Ledger Accounting System that may operate on ERP and other systems commonly utilized in the relevant marketplace.
  • Another primary objective of the present invention is to reduce quarterly and year-end financial support schedules as well as generate reports required for tax reporting and payment purposes. By providing a Management Cash Ledger, this helps to generate quarterly and yearly reports without difficulty and can be scheduled to run automatically at user-preferred intervals.
  • An additional primary objective of the present invention is to eliminate the need to reconcile local books to global books, as this occurs automatically as part of the improved process, as set forth herein. Further, this is enabled in one set currency, thus consolidating all the books into one management ledger.
  • the present invention also provides for the local statutory requirements to be applied and recorded in real time in statutory cash or statutory accrual ledgers as they are entered into the leading ledger.
  • Another primary objective of the present invention is to enable global transactions that used to be posted by global staff to now be posted by local personnel, and said transactions also may be accessed by personnel from local or global locations, thereby eliminating the need for each office to post at their home office location only, and then undergo reporting and consolidation of the various office reports.
  • Still another primary objective of the present invention is to enable non-local transaction entries to be posted automatically. This means users will have no need to post non-local transactions each month, thereby eliminating the need for users to post when they return to their home office and then consolidate reports to combine all office location reports.
  • the present inventive method provides this may be now all done automatically, in one step.
  • the primary objectives attained by this inventive system and method center around its ability to deliver a Modified Cash Ledger with the advantage of being able to maintain a plurality of cash and accrual based ledgers simultaneously.
  • the present invention provides an improved method that allows for manual entries to be made into each of the parallel ledgers (statutory accrual cash, statutory cash ledger, and management cash ledger) thereby allowing for an easy to use way to adjust or manipulate a plurality of ledgers.
  • Another primary objective of the present invention is to reduce financial process operating costs through standardization and eventually centralization of some core processes, such as the general ledger, and to reduce current and future technology costs by providing minimal reports with optimal information on each report. For example, costs for the maintenance and debugging of the existing technology are reduced, the system also reduces labor costs by providing for rules that may not be automated in a system and are no longer performed by individuals.
  • Still yet another primary objective of the present invention is to provide the ability to maintain a plurality of cash and accrual ledgers in ERP and other similar systems and to help the firms' offices reduce costs and meet local fiscal and statutory requirements effectively.
  • a primary objective of the present invention is to ensure that the firm's financial systems operate on current technology including, but not limited to premise and cloud based technologies.
  • FIG. 1 shows a schematic diagram of the system architecture for the present invention.
  • FIG. 1 a shows a flow chart diagram of a preferred embodiment of the present invention.
  • FIG. 2 shows a flow chart diagram of a preferred embodiment of the present invention.
  • FIG. 3 shows a flow chart diagram of a preferred embodiment of the present invention.
  • FIG. 4 shows a flow chart diagram of a preferred embodiment of the present invention in actual use.
  • FIG. 5 shows a front plan elevational view of an exemplary screen shot of the present invention in actual use.
  • FIG. 6 shows a front plan elevational view of an exemplary screen shot of the present invention in actual use.
  • FIG. 7 shows a front plan elevational view of an exemplary screen shot of the present invention in actual use.
  • FIG. 8 shows a front plan elevational view of an exemplary screen shot of the present invention in actual use.
  • FIG. 9 shows a front plan elevational view of an exemplary screen shot of the present invention in actual use.
  • FIG. 10 shows a front plan elevational view of an exemplary screen shot of the present invention in actual use.
  • FIG. 11 shows a front plan elevational view of an exemplary screen shot of the present invention in actual use.
  • FIG. 1 Shown now in FIG. 1 is a flow chart diagram of the present inventive system, The Improved Ledger Accounting System 10 which is typically run in association with the following hardware elements: an application server 14 which communicates with data base 12 wherein data regarding payments, invoices, transactions and information pertaining to the particular user's business is stored therein.
  • the Improved Ledger Accounting System 10 may be utilized with a plurality of personal computers 16 , tablets, phones or other like devices accessible by the end user of the present inventive system, Improved Ledger Accounting System 10 .
  • the Improved Ledger Accounting System 10 can be utilized by a wide variety of different types of professional and non professional businesses, including, but not limited to: architectural firms, law firms, accounting firms, vendors and contractors for services such as plumbing, auto service, construction and the like.
  • This present inventive System is unique in that it combines cash and accrual local accounting ledgers as well as management accounting systems into one unified platform which is readily accessible by any parent corporation or head business entity to monitor the cash systems and cash flow of individual subsidiary businesses.
  • the local or subsidiary businesses also have their statutory required ledgers maintained in real time (with statutory requirements applied to all financial events) while reporting to their management ledger at the same time.
  • the subsidiary businesses may be located in one local area such as a town or city, or they may be state wide, regional, national or even international.
  • the subsidiary businesses may be operating on plurality of international currencies, or it may be restricted to one currency for all transactions. If operating on several international currencies, the management accounting ledger may consolidate all records into one currency updated in real time or other preselected time.
  • FIG. 1 a shows a flow chart showing the detailed information pertaining to actual operation of the present inventive system, Improved Ledger Accounting System 100 wherein journal entries and business transactions or any such financial event 112 is entered into the leading ledger 116 . Every financial event such as a payment, disbursement, invoice or bill, etc. is entered into the leading ledger 116 .
  • This flow chart illustrates the mapping rules for sub-ledgers 128 which are part of leading ledger 116 and non-leading ledgers, if any.
  • the location of the posting occurs based on preselected mapping/rules, which eventually end up in the management cash ledger 122 , or based on the classification of the accounting basis used by the office involved, the relevant data are posted to the statutory cash ledger 126 in real time or statutory accrual ledger 118 in real time, or the process ends if they are not posted to any other ledgers.
  • statutory requirements 136 are applied to the postings in real time and posted into a statutory accrual ledger 118 .
  • transfer rules 138 are applied to the postings input into the leading ledger and posted to the management cash ledger 122 .
  • the financial data 112 entered into the inventive system are manipulated by some or all of the following processes: the statutory accrual ledger 118 receives modified data according to statutory requirements 136 in real time; the management cash ledger 122 receives modified data according to transaction rules 138 ; and the statutory cash ledger 126 receives data modified to meet statutory requirements 140 in real time as they are posted into the management cash ledger 122 .
  • Posts can be made to the management cash ledger 122 , statutory cash ledger 126 , or statutory accrual ledger 118 , or they can be made on a manual basis as well to each of the three ledgers 130 , 134 or 132 .
  • the sub ledgers 128 depend from the leading ledger 116 and may consist of one or more of the following: accounts receivables, accounts payables and/or fixed asset accountings.
  • FIG. 2 Shown in FIG. 2 is a flow chart for the present invention, Improved Ledger Accounting Method 100 which allows for a modified or management cash ledger 122 to be used in professional firms or for other professional or personal use.
  • This parallel ledger functionality is used to meet reporting requirements on a cash or accrual basis by providing information from the following ledgers: management cash ledger 122 , statutory cash ledger 126 and statutory accrual ledger 118 .
  • the management cash ledger 122 may be used to calculate retained earning for partnership distributions.
  • there are several types of ledgers namely: a leading ledger 116 comprising a ledger integrated with subsidiary ledgers 128 of FIG.
  • Non-leading ledgers such as the management cash ledger 122 , statutory accrual ledger 118 , etc. may have different fiscal year variants and different posting period variants per company (or entity) code and may, for example, be used for management cash ledgers 122 and statutory cash ledgers 126 ; and, sub-ledgers 128 wherein the subsidiary ledgers 128 is a subset of the general or leading ledger 116 used in the company's accounting.
  • This process allows for a plurality of each of these ledgers (Non-leading such as management cash ledgers 122 , statutory accrual ledgers 118 , statutory cash ledgers, and sub-ledgers 128 ) to be maintained collectively.
  • the Improved Ledger Accounting System 100 process has the ability to post all transactions that are captured in the first or leading ledger 116 and are then able to be evaluated based on preselected events and rules 140 before being posted to the modified statutory cash ledger 126 .
  • the process functionality of the modified statutory cash ledger 126 is one that is embedded and allows leading ledger 116 transactions to post automatically to this ledger.
  • the Improved Ledger Accounting Method 100 has the ability to post transactions to the statutory cash ledger 126 based on preselected criteria such as events, account numbers, document types, and other conditions. Through a trigger mechanism these preselected criteria are able to control modified statutory cash ledger 126 postings, based on the specific criteria preselected such as Document Types/Events.
  • the document types that can be input into the Improved Ledger Accounting Method 100 may involve a key that distinguishes the business transactions to be posted. The document type can be used to determine where the document is stored and specify the account types to be posted.
  • Another important feature and function of the Improved Ledger Accounting System 100 is its ability to post a ledger-specific posting to a non-leading ledger such as the management cash ledger 122 , management allocations, or statutory only posting, or another selected ledger.
  • the non-leading ledgers can include, for example, the modified cash ledgers 122 and the statutory cash ledgers 126 and the statutory accrual ledgers or other defined Ledgers as specified by the user of the System.
  • This accounting basis process allows for the ability to post transactions in a non-leading ledger (such as statutory accrual ledger 118 , statutory cash ledger 126 , etc.) to an account different from the leading ledger 116 .
  • a unique feature of the inventive process Improved Ledge Account System 100 is its ability to maintain multiple modified management cash ledgers 122 for example, management cash ledger 122 and statutory cash ledgers 126 , etc.
  • the Improved Ledger Accounting Method 100 provides for the ability to post to open items and reconciliation accounts in the Non-Leading Ledger. Further the process enables ledger specific foreign exchange revaluation, including revaluation based on the general or leading ledger balance. Also, the ability to run foreign currency revaluation independently for specific purposes such and management and statutory purposes.
  • An aspect of this inventive process is that exchange rates are input into the system daily, management rates will be maintained for all firm currencies, statutory rates will be maintained for countries that have a government mandate for the rate source, and every transaction is saved in a plurality of currencies as preselected by the firm (for example, document currency, statutory reporting/company code currency), and group currency and when a government mandates the rates that must be used in a jurisdiction, transactions are also saved in that currency (the hard currency).
  • the process also allows for other selections to be input into the system.
  • a novel and unique aspect of the present inventive process is the reconciliation between the management cash ledger (non-leading) ledger 122 and the leading ledger 116 .
  • Another unique feature of the present invention is the ability for the management cash ledger 122 postings to post at real time or via on demand or through batch processing.
  • FIG. 1 a The transaction flow of this process starts with business transactions or journal entries or other financial events FIG. 1 a 's 112 generated from accounts payable or accounts receivable or other transaction post to the leading ledger 116 .
  • statutory requirements are applied to the posts made in the leading ledger 116 and posted to the statutory accrual ledger in real time. Transfer rules are applied to all posts made in the leading ledger 116 and if they qualify according to a set of predetermined rules and triggers, they are posted to the management cash ledger 122 .
  • the firm or office follows a cash accounting basis, the statutory requirements are applied to the posts made into the management cash ledger 122 and are posted to the statutory cash ledger 126 .
  • the process ensures proper allocation of partial client payments in the modified cash ledger 122 .
  • a portion of the client invoice is brought into the management cash ledger 122 proportionate to each amount of any partial payment made to a vendor.
  • proper handling of inter-company transactions between the leading ledger 116 and the management cash ledger 122 are ensured in this process.
  • An additional advantageous feature of the present invention is the process' ability to produce management reports quickly and efficiently from the management cash ledger 122 , including specific fields such as, Trial Balance, Profit & Loss, and Balance Sheet, etc.
  • the present inventive process or method has the ability to have Leading Ledger 116 data rendered into reports, and it may additionally produce other detailed reports based on the management cash ledger 122 .
  • the present inventive process has the ability to create specific repots such as, for example, Statutory reports from the statutory cash ledger 126 , including country specific Profit & Loss Statements, and a Balance Sheet.
  • Leading ledger 116 data for business intelligence must be extracted from the modified cash ledger 122 and other non-leading ledgers for reporting purposes.
  • This inventive process also has the ability to create Comparative Financial Statements against Budget based on the management cash ledger 122 .
  • the process has the ability to use Internal Orders in the modified management cash ledger 122 .
  • the process has the ability to create Profit/Cost Center reporting out of the management cash ledger 122 and has the ability reconcile tax reporting to the modified management cash ledger 122 .
  • FIG. 3 shows an additional flow chart of the present inventive system, Improved Ledger Accounting System 100 which shows how a financial event 112 such as a payment, bill, disbursement, or other transaction is created and it is then entered into the leading ledger 116 .
  • a financial event 112 such as a payment, bill, disbursement, or other transaction
  • this transaction is entered directly into that ledger.
  • a transaction may be independently created and entered into the inventive system via the manual override or manual entry 132 is created.
  • a financial event 112 such as a payment, bill, invoice, disbursement or other transaction is created and then the present inventive system will use a set of transfer rules 138 to determine where to post the entry. In some situations, there may be no need to post to other ledgers 142 and so the inventive process ends 144 . In other situations, via the transfer rules 138 , the posting is placed in a management cash ledger 122 and into a statutory cash ledger 126 .
  • a manual override may be utilized to create a manual entry 130 in the management cash ledger, or a manual override maybe utilized to create a manual entry 134 into the statutory cash ledger.
  • FIG. 4 shows an additional flow chart for the Improved Ledger Accounting System where in the details of sub ledgers 128 are shown.
  • Sub ledgers 128 may comprise one or more of the following: accounts receivables or payables, fixed assets or the general ledger. Entered into the sub ledgers are the following transactions: financial events 112 , client invoices/vendor invoices 146 ; client payments/vendor payments 148 and fixed assets 150 . This data is then automatically entered into the statutory accrual ledger 118 . Or a set of transfer rules maybe utilized to place the data also into the management cash ledger 122 or the statutory cash ledger 126 .
  • FIG. 5 shows a typical screen for an MCL trigger screen 500 which is for the management cash ledger 122 of FIGS. 1 a to 4 .
  • This screen shot also shows the following elements: fiscal year 502 , company code 504 ; document type 506 ; entry date 508 ; document number 510 ; data selection package 512 ; by pass duplicate check 514 and test run 516 .
  • the document number 510 can be used to create an unique document identifier in the system.
  • the document selection package can be used to select from the desired documents.
  • FIG. 6 shows a typical screen for data entry, data entry screen 600 .
  • the following items are easily found: fiscal year 602 ; company code 604 ; document date 606 ; posting date 608 ; document number 610 and a plurality of lien item entries for transactions 612 .
  • the posting date 608 may differ from the document creation date 606 .
  • FIG. 7 shows a typical screen for a final invoice containing an over view of billing items or final invoice screen 700 which displays the following items: final invoice number 702 ; client name and number 704 ; bill date 706 ; bill value 708 and a plurality of cost entries 710 . Once assembled together and printed, this comprises the billing for a particular client.
  • FIG. 8 shows a typical screen for a particular vendor invoice, vendor entry screen 800 .
  • the following items are displayed to the user: fiscal year 802 ; company code 804 ; document date 806 ; posting date of invoice 808 ; document number 810 which is an unique identifier for this invoice; accounting period 812 ; currency type 814 ; and plurality of items billed to client 816 .
  • FIG. 9 shows a typical screen displayed for each client payment entered into the inventive system, payment screen 900 which displays the following data: fiscal year of payment 902 ; company code 904 ; document date 906 ; posting date 908 ; document number 910 , which is an unique document identifier; fiscal period 912 ; currency type 914 and a plurality of payment entries 916 .
  • FIG. 10 shows a typical screen displayed for each vendor payment entered into the inventive system, vendor payment screen 1000 which displays the following data; fiscal year of payment 1002 ; company code 1004 ; document date 1006 ; posting date 1008 ; document number, an unique identifier 1010 ; fiscal period of payment 1012 ; currency type 1014 and payment entry 1016 .
  • FIG. 11 shows a typical screen displayed for a fixed asset data entry 1100 which displays the following data; fiscal year of asset value 1102 ; company code 1104 ; document date 1106 ; posting date 1108 ; document number or identifier 1110 ; fiscal period at entry 1112 ; currency type of record 1114 and the asset's value at the time of entry 1116 .
  • the value of assets held by a related or subsidiary company may be tracked for accounting, tax or other valuation purposes.

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US14/544,385 US20160042468A1 (en) 2014-07-26 2014-12-31 Modified cash ledger basis for an accounting system and process
BR112017001706A BR112017001706A2 (pt) 2014-07-26 2015-07-15 base de livro-razão de caixa modificado para um sistema e um processo contábeis
AU2015298319A AU2015298319A1 (en) 2014-07-26 2015-07-15 The modified cash ledger basis for an accounting system and process
EP15828282.2A EP3172707A4 (en) 2014-07-26 2015-07-15 The modified cash ledger basis for an accounting system and process
EP21172099.0A EP3907690A1 (en) 2014-07-26 2015-07-15 The modified cash ledger basis for an accounting system and process
CN201580051673.2A CN107430744B (zh) 2014-07-26 2015-07-15 用于会计系统和过程的经修改的现金分类账基础
PCT/US2015/040657 WO2016018632A2 (en) 2014-07-26 2015-07-15 The modified cash ledger basis for an accounting system and process
US15/465,250 US10896470B2 (en) 2014-07-26 2017-03-21 Modified cash ledger basis for an accounting system and process

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BR112017001706A2 (pt) 2017-11-21
EP3172707A2 (en) 2017-05-31
AU2015298319A1 (en) 2017-03-23
US20170193607A1 (en) 2017-07-06
CN107430744B (zh) 2023-11-28
EP3907690A1 (en) 2021-11-10
CN107430744A (zh) 2017-12-01
WO2016018632A2 (en) 2016-02-04
US10896470B2 (en) 2021-01-19

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