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US 11,961,148 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, comprising:
- at least one hardware processor;
- a data store storing a particular financial transaction record and an accounting ledger for financial transactions, the particular financial transaction record defining a first revenue recognition date or a first revenue recognition trigger condition, the first revenue recognition date being associated with a first portion of revenue or the first revenue recognition trigger condition when satisfied establishing the first revenue recognition date for the first portion of 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 interface configured to receive the particular financial transaction record defining the first revenue recognition date or the first revenue recognition trigger condition for the particular financial transaction record;
- receive the particular financial transaction record via the first interface;
- allocate the first portion of revenue to the first open-ended accounting period;
- automatically create a first defined accounting period, the first defined accounting period having a first start date and a first end date within the first open-ended accounting period;
- 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 interface to reflect the second open-ended accounting period and to enable generation of one or more defined accounting periods;
- 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 automatically allocate the first portion of revenue to the second open-ended accounting period if the first particular revenue recognition date falls on or after the second start date.
10 more elements
A method of managing financial transaction records, comprising:
- storing a particular financial transaction record and an accounting ledger for financial transactions, the particular financial transaction record defining a first revenue recognition date or a first revenue recognition trigger condition, the first revenue recognition date being associated with a first portion of revenue or the first revenue recognition trigger condition when satisfied establishing the first revenue recognition date for the first portion of revenue, the accounting ledger including a first open-ended accounting period having a particular start date and an open end date;
- presenting a first interface configured to receive the particular financial transaction record defining the first revenue recognition date or the first revenue recognition trigger condition for the particular financial transaction record;
- receiving the particular financial transaction record via the first interface;
- allocating the first portion of revenue to the first open-ended accounting period;
- automatically creating a first defined accounting period, the first defined accounting period having a first start date and a first end date within the first open-ended accounting period;
- 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 interface to reflect the second open-ended accounting period and to enable generation of one or more defined accounting periods;
- 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 automatically allocating the first portion of revenue to the second open-ended accounting period if the first particular revenue recognition date falls on or after the second start date.
7 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 a particular financial transaction record and an accounting ledger for financial transactions, the particular financial transaction record defining a first revenue recognition date or a first revenue recognition trigger condition, the first revenue recognition date being associated with a first portion of revenue or the first revenue recognition trigger condition when satisfied establishing the first revenue recognition date for the first portion of revenue, the accounting ledger including a first open-ended accounting period having a particular start date and an open end date;
- presenting a first interface configured to receive the particular financial transaction record defining the first revenue recognition date or the first revenue recognition trigger condition for the particular financial transaction record;
- receiving the particular financial transaction record via the first interface;
- allocating the first portion of revenue to the first open-ended accounting period;
- automatically creating a first defined accounting period, the first defined accounting period having a first start date and a first end date within the first open-ended accounting period;
- 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 interface to reflect the second open-ended accounting period and to enable generation of one or more defined accounting periods;
- 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 automatically allocating the first portion of revenue to the second open-ended accounting period if the first particular revenue recognition date falls on or after the second start date.
7 more elements
Dependencies are inferred from the claim text.