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US 11,769,131 B2Granted
Financial processing and data management system and method
OwnerThomas Edward Griffithinventor
Life of this patent
Estimating the term…
Abstract
A system for automatically processing and storing financial data using financial codes, product identifiers, point-of-sale and non-point-of-sale locations and devices, transaction cards and a financial processing and data management software program capable of processing the financial data that is associated with the financial codes into a financial report for the user of the financial processing and data management system.
Claims27
A system configured to create a financial report for a user by processing information of the user, financial data of the user, sales data of a point of sale, and product data of a product identifier, the system comprising:
- a set of financial codes comprising a plurality of financial codes used singly or plurally, wherein the plurality of financial codes are related to bookkeeping, accounting and taxes and used to identify the product identifier's product data, the user's information, the user's financial data, the point-of-sale's sales data, wherein the set of financial codes are used by a financial processing and data management software to create the financial report;
- the product identifier configured to store the product data and allowing a first electronic or human extraction of the product data by the point-of-sale, wherein the product data comprises an associated manufacturer's information and the plurality of financial codes when present in the product identifier, wherein the plurality of financial codes identify the associated manufacturer's information;
- a transaction card or device comprising a first memory storing the user's information, wherein the first memory is configured to allow a second electronic or human extraction of the user's information;
- the point-of-sale configured to process and assign the plurality of financial codes to the point-of-sale's sales data, wherein the point-of-sale is configured to assign the plurality of financial codes to a singular or plurality of components comprising the point-of-sale's sales data, wherein the point-of-sale is configured to create a first transaction data by combining the point-of-sale's sales data, the product identifier's product data, and the user's information from the transaction card or device, wherein the first transaction data is formatted in a first organized format retaining the plurality of financial codes, the point-of-sale's sales data, the product identifier's product data, and the user's information from the transaction card or device;
- wherein the point-of-sale is configured to store the plurality of financial codes to a second memory and assign the plurality of financial codes to the point-of-sale's sales data by using the product identifier's product data, and/or accessing the plurality of financial codes by sending an electronic request to a remote server, whereby the remote server assigns the plurality of financial codes to the point-of-sale's sales data;
- the remote server, configured to receive the electronic request from the point-of-sale, wherein the electronic request from the point-of-sale comprises, the point-of-sale's sales data, the product identifier's product data and the user's information from the transaction card or device, wherein the remote server is configured to create a second transaction data by combining the point-of-sale's sales data, the product identifier's product data, and the user's information from the transaction card or device, wherein the second transaction data created by the remote server is formatted in a second organized format retaining the plurality of financial codes, the point-of-sale's sales data, the product identifier's product data, and the user's information from the transaction card or device;
- a non-point-of-sale configured to create and manage the user's financial data, wherein the non-point-of-sale is configured to use a customized software for processing the user's financial data and use the plurality of financial codes to identify the user's financial data, wherein the non-point-of-sale is configured to transmit the user's financial data to the financial processing and data management software and/or the remote server;
- wherein the financial processing and data management software is configured to use the plurality of financial codes as instructions to parse, manage and store the first and/or second transaction data received from the point-of-sale and/or the remote server and the user's financial data from the non-point-of-sale, wherein the financial processing and data management software is configured to use the plurality of financial codes to cross-index and correlate the plurality of financial codes in the first and/or second transaction data and the user's financial data with the plurality of financial codes related to bookkeeping, accounting and taxes stored in an associated with the financial processing and data management software, wherein the financial processing and data management software is configured to use the plurality of financial codes stored in the first and/or second transaction data from the point-of-sale or the remote server and/or the user's financial data from the non-point-of-sale to create the financial report.
5 more elements
A method of creating a financial report for a user by combining and managing a product's data, a point-of-sale's sales data, information of the user and financial data of the user, the method comprising:
- generating a set of financial codes, wherein the set of financial codes comprise a plurality of financial codes used singly and/or plurally and are used for identifying a product identifier's product data, the user's information stored in a transaction card or device, the point-of-sale's sales data, and the user's financial data produced by a non-point-of-sale, wherein the plurality of financial codes are used for identifying a singular or a plurality of components comprising the point-of-sale's sales data, wherein the plurality of financial codes are used by a remote server for storing and using the plurality of financial codes for identifying the point-of-sale's sales data and assigning the plurality of financial codes to the singular or the plurality of components comprising the point-of-sale's sales data, wherein the plurality of financial codes are used by a financial processing and data management software for identifying bookkeeping, accounting and tax procedures;
- storing by the product identifier the product's data, wherein the product's data comprises an associated manufacturer's information identifying a product and the plurality of financial codes when present in the product identifier;
- storing by the transaction card or device the user's information;
- electronically scanning by the point-of-sale the product identifier and the transaction card or device, whereby extracting the product identifier's product data and the user's information from the transaction card or device;
- the point-of-sale creating a first transaction data comprising, the product identifier's product data, the user's information from the transaction card or device and the point-of-sale's sales data, wherein the first transaction data is formatted in a first organized format retaining the plurality of financial codes, the point-of-sale transmitting a first electronic transmission containing the first transaction data to the financial processing and data management software, and/or the point-of-sale transmitting a second electronic transmission to the remote server, wherein the second electronic transmission comprises the product identifier's product data, the point-of-sale's sales data and the user's information from the transaction card or device;
- the remote server receiving the second electronic transmission from the point-of-sale the remote server creating a second transaction data by combining the point-of-sale's sales data, the product identifier's product data and the user's information from the transaction card or device, wherein the second transaction data is formatted in a second organized format retaining the plurality of financial codes, the remote server transmitting a third electronic transmission containing the second transaction data to the financial processing and data management software and/or the point-of-sale;
- the non-point-of-sale processing and managing the user's financial data, wherein the non-point-of-sale transmits a fourth electronic transmission containing the user's financial data to the financial processing and data management software and/or the remote server;
- the financial processing and data management software processing the first and the second transaction data from the point-of-sale and/or the remote server, wherein the financial processing and data management software uses the plurality of financial codes in the first and/or the second transaction data and the user's financial data from the non-point-of-sale as instructions for parsing, managing and storing the first and/or the second transaction data and the user's financial data, wherein the financial processing and data management software includes cross-indexing and correlating the plurality of financial codes in the first and/or the second transaction data and the user's financial data from the non-point-of-sale with the plurality of financial codes stored in a first memory associated with the financial processing and data management software, whereby creating the financial report, wherein the financial report is related to bookkeeping, accounting and/or taxes for the user.
5 more elements
Dependencies are inferred from the claim text.