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US 10,896,471 B2Granted
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 capable of managing financial transaction records, comprising:
- at least one hardware processor;
- a data store storing an accounting ledger for financial transaction records, at least one particular financial transaction record of the financial transaction records including a first revenue recognition date and a second revenue recognition date or including a first revenue recognition trigger condition and a second revenue recognition trigger condition, the first revenue recognition date being associated with a first portion of revenue, the second revenue recognition date being associated with a second portion of revenue, the first revenue recognition trigger condition when satisfied establishing a third revenue recognition date for a third portion of revenue, the second revenue recognition trigger condition when satisfied establishing a fourth revenue recognition date for a fourth portion for revenue, 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 financial transaction records, including entry of the first and second revenue recognition dates or entry of the first and second revenue recognition trigger conditions for the particular financial transaction record;
- receive the financial transaction records including the particular financial transaction record via the first user interface;
- allocate the financial transaction records including the particular financial transaction record 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 user 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 the particular financial transaction record;
- and
- automatically allocate the first portion of revenue to the first defined accounting period if the first particular revenue recognition date falls within the first start date and the first end date, or the third portion of revenue to the first defined accounting period if the third particular revenue recognition date falls within the first start date and the first end date, and automatically allocate the second portion of revenue to the second open-ended accounting period if the second particular revenue recognition date falls on or after the second start date, or the fourth portion of revenue to the second open-ended accounting period if the fourth particular revenue recognition date falls on or after the second start date.
12 more elements
A method of managing financial transaction records, comprising:
- storing an accounting ledger for financial transaction records, at least one particular financial transaction record of the financial transaction records including a first revenue recognition date and a second revenue recognition date or including a first revenue recognition trigger condition and a second revenue recognition trigger condition, the first revenue recognition date being associated with a first portion of revenue, the second revenue recognition date being associated with a second portion of revenue, the first revenue recognition trigger condition when satisfied establishing a third revenue recognition date for a third portion of revenue, the second revenue recognition trigger condition when satisfied establishing a fourth revenue recognition date for a fourth portion for revenue, the accounting ledger including a first open-ended accounting period having a particular start date and an open end date;
- presenting a first user interface configured to enable entry of the financial transaction records, including entry of the first and second revenue recognition dates or entry of the first and second revenue recognition trigger conditions for the particular financial transaction record;
- receiving the financial transaction records including the particular financial transaction record via the first user interface;
- allocating the financial transaction records including the particular financial transaction record 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 user 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 the particular financial transaction record;
- and
- automatically allocating the first portion of revenue to the first defined accounting period if the first particular revenue recognition date falls within the first start date and the first end date, or the third portion of revenue to the first defined accounting period if the third particular revenue recognition date falls within the first start date and the first end date, and automatically allocating the second portion of revenue to the second open-ended accounting period if the second particular revenue recognition date falls on or after the second start date, or the fourth portion of revenue to the second open-ended accounting period if the fourth particular revenue recognition date falls on or after the second start date.
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, the method comprising:
- storing an accounting ledger for financial transaction records, at least one particular financial transaction record of the financial transaction records including a first revenue recognition date and a second revenue recognition date or including a first revenue recognition trigger condition and a second revenue recognition trigger condition, the first revenue recognition date being associated with a first portion of revenue, the second revenue recognition date being associated with a second portion of revenue, the first revenue recognition trigger condition when satisfied establishing a third revenue recognition date for a third portion of revenue, the second revenue recognition trigger condition when satisfied establishing a fourth revenue recognition date for a fourth portion for revenue, the accounting ledger including a first open-ended accounting period having a particular start date and an open end date;
- presenting a first user interface configured to enable entry of the financial transaction records, including entry of the first and second revenue recognition dates or entry of the first and second revenue recognition trigger conditions for the particular financial transaction record;
- receiving the financial transaction records including the particular financial transaction record via the first user interface;
- allocating the financial transaction records including the particular financial transaction record 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 user 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 the particular financial transaction record;
- and
- automatically allocating the first portion of revenue to the first defined accounting period if the first particular revenue recognition date falls within the first start date and the first end date, or the third portion of revenue to the first defined accounting period if the third particular revenue recognition date falls within the first start date and the first end date, and automatically allocating the second portion of revenue to the second open-ended accounting period if the second particular revenue recognition date falls on or after the second start date, or the fourth portion of revenue to the second open-ended accounting period if the fourth particular revenue recognition date falls on or after the second start date.
9 more elements
Dependencies are inferred from the claim text.