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US 10,311,522 B1Granted
System and method for managing and editing accounting periods
AssigneeZuora, Inc.
InventorsLei Jin, John Banks
Life of this patent
Estimating the term…
Abstract
Embodiments of the present methods and systems are directed to a system and method for managing and editing accounting periods. Particularly, the embodiments are directed to a financial management system that allows for the recordation of financial transactions without first requiring the creation of a user-defined accounting period, and that further allows for the creation, modification, and closure of defined accounting periods.
Claims21
A computerized financial accounting system having an interface capable of managing financial transaction records with more than one first revenue recognition dates and more than one revenue recognition trigger conditions for establishing more than one second revenue recognition dates, comprising:
- at least one hardware processor;
- a data store storing an accounting ledger for a first plurality of financial transaction records, each financial transaction record of the first plurality of financial transaction records including at least one first revenue recognition date or at least one revenue recognition trigger condition, each revenue recognition trigger condition when satisfied establishing a second revenue recognition date for at least a portion of revenue associated with the financial transaction record, the accounting ledger including a first open-ended accounting period having a particular start date and an open end date;
- and
- memory storing computer instructions that, when executed by the at least one hardware processor, cause the at least one hardware processor to:
- present a first user interface configured to enable entry of the first plurality of financial transaction records, including entry of the at least one first revenue recognition date or the at least one revenue recognition trigger condition for each financial transaction record of the first plurality of financial transaction records;
- receive the first plurality of financial transaction records via the first user interface;
- allocate revenue associated with the first plurality of financial transaction records to the first open-ended accounting period;
- present a second user interface configured to enable a user to generate one or more defined accounting periods;
- receive via the second interface a create instruction from the user to create a first defined accounting period, the first defined accounting period having a first start date and a first end date;
- in response to receiving the create instruction, create the first defined accounting period having the first start date and the first end date;
- automatically create a second open-ended accounting period contiguous to the first defined accounting period, the second open-ended accounting period having a second start date immediately after the first end date and having the open end date;
- after creating the second open-ended accounting period, update the second user interface to reflect the second open-ended accounting period, to enable the user to generate one or more defined accounting periods, and to enable the user to modify the first defined accounting period;
- evaluate a first financial transaction record of the first plurality of financial transaction records, the first financial transaction record having a first particular revenue recognition date or a first particular revenue recognition trigger condition that when satisfied establishes a second particular revenue recognition date;
- and
- automatically allocate at least a first portion of revenue associated with the first financial transaction record to the first defined accounting period if the first particular revenue recognition date or the second particular revenue recognition date of the first financial transaction record falls within the first start date and the first end date of the first defined accounting period, or automatically allocate the at least a first portion of revenue associated with the first financial transaction record to the second open-ended accounting period if the first particular revenue recognition date or the second particular revenue recognition date of the first financial transaction record falls on or after the second start date of the second open-ended accounting period.
12 more elements
A method for managing financial accounting data that includes managing transaction records with more than one first revenue recognition dates and more than one revenue recognition trigger conditions for establishing more than one second revenue recognition dates, the method comprising:
- providing, for a first plurality of financial transaction records, a first open-ended accounting period having a particular start date and an open end date, wherein each financial transaction record of the first plurality of financial transaction records includes at least one first revenue recognition date or at least one revenue recognition trigger condition, each revenue recognition trigger condition when satisfied establishing a second revenue recognition date for at least a portion of revenue associated with the financial transaction record;
- presenting a first user interface configured to enable entry of the first plurality of financial transaction records, including entry of the at least one first revenue recognition date or the at least one revenue recognition trigger condition for each financial transaction record of the first plurality of financial transaction records;
- receiving the first plurality of financial transaction records via the first user interface;
- allocating revenue associated with the first plurality of financial transaction records to the first open-ended accounting period;
- presenting a second user interface configured to enable a user to generate one or more defined accounting periods;
- receiving via the second interface a create instruction from the user to create a first defined accounting period, the first defined accounting period having a first start date and a first end date;
- in response to receiving the create instruction, creating the first defined accounting period having the first start date and the first end date;
- automatically creating a second open-ended accounting period contiguous to the first defined accounting period, the second open-ended accounting period having a second start date immediately after the first end date and having the open end date;
- after creating the second open-ended accounting period, updating the second user interface to reflect the second open-ended accounting period, to enable the user to generate one or more defined accounting periods and to enable the user to modify the first defined accounting period;
- evaluating a first financial transaction record of the first plurality of financial transaction records, the first financial transaction record having a first particular revenue recognition date or a first particular revenue recognition trigger condition that when satisfied establishes a second particular revenue recognition date;
- and
- automatically allocating at least a first portion of revenue associated with the first financial transaction record to the first defined accounting period if the first particular revenue recognition date or the second particular revenue recognition date of the first financial transaction record falls within the first start date and the first end date of the first defined accounting period, or automatically allocating the at least a first portion of revenue associated with the first financial transaction record to the second open-ended accounting period if the first particular revenue recognition date or the second particular revenue recognition date of the first financial transaction record falls on or after the second start date of the second open-ended accounting period.
9 more elements
A non-transitory computer readable medium having stored therein instructions that are machine executable to perform a method of managing financial accounting data that includes managing transaction records with more than one first revenue recognition dates and more than one revenue recognition trigger conditions for establishing more than one second revenue recognition dates, the method comprising:
- providing, for a first plurality of financial transaction records, a first open-ended accounting period having a particular start date and an open end date, wherein each financial transaction record of the first plurality of financial transaction records includes at least one first revenue recognition date or at least one revenue recognition trigger condition, each revenue recognition trigger condition when satisfied establishing a second revenue recognition date for at least a portion of revenue associated with the financial transaction record;
- presenting a first user interface configured to enable entry of the first plurality of financial transaction records, including entry of the at least one first revenue recognition date or the at least one revenue recognition trigger condition for each financial transaction record of the first plurality of financial transaction records;
- receiving the first plurality of financial transaction records via the first user interface;
- allocating revenue associated with the first plurality of financial transaction records to the first open-ended accounting period;
- presenting a second user interface configured to enable a user to generate one or more defined accounting periods;
- receiving via the second interface a create instruction from the user to create a first defined accounting period, the first defined accounting period having a first start date and a first end date;
- in response to receiving the create instruction, creating the first defined accounting period having the first start date and the first end date;
- automatically creating a second open-ended accounting period contiguous to the first defined accounting period, the second open-ended accounting period having a second start date immediately after the first end date and having the open end date;
- after creating the second open-ended accounting period, updating the second user interface to reflect the second open-ended accounting period, to enable the user to generate one or more defined accounting periods, and to enable the user to modify the first defined accounting period;
- evaluating a first financial transaction record of the first plurality of financial transaction records, the first financial transaction record having a first particular revenue recognition date or a first particular revenue recognition trigger condition that when satisfied establishes a second particular revenue recognition date;
- and
- automatically allocating at least a first portion of revenue associated with the first financial transaction record to the first defined accounting period if the first particular revenue recognition date or the second particular revenue recognition date of the first financial transaction record falls within the first start date and the first end date of the first defined accounting period, or automatically allocating the at least a first portion of revenue associated with the first financial transaction record to the second open-ended accounting period if the first revenue recognition date or the second particular revenue recognition date of the first financial transaction record falls on or after the second start date of the second open-ended accounting period.
9 more elements
Dependencies are inferred from the claim text.