Correlating transaction records via user-specified identifier cr

Details Correlating transaction records via user-specified identifier cr Correlating transaction records via user-specified identifier cr

1997-12-18

1999-12-21

Peeso, Thomas R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Accounting

705 35, 705 37, 345326, 345329, 345331, G06F 1700

Patent

active

060062045

ABSTRACT:
A financial institution customer is permitted to create an uncleared transaction record within the financial institution's account ledger for the customer in anticipation of actually making the transaction. Although maintained within the financial institutions electronic records for the account and appearing on monthly statements or printed transaction histories, uncleared transaction records are treated as account comments but the financial institution and are not employed in any manner to modify the account balance for the corresponding account. The uncleared transaction record may include a detailed description of the transaction as well as a unique transaction identifier, created by the customer or preprinted on a banking form such as a deposit slip. When the transaction is actually made, the real transaction record is annotated with the transaction identifier. Uncleared transaction records may subsequently be correlated to real transaction records utilizing the transaction identifiers during reconciliation. During reconciliation, corresponding uncleared and real transaction records may be merged with the transaction description within the uncleared transaction record appended to the transaction description in the real transaction record. Transaction records may be automatically merged or presented in pairs for manual merger.

REFERENCES:
patent: 5093787 (1992-03-01), Simmons
patent: 5220501 (1993-06-01), Lawlor et al.
patent: 5422468 (1995-06-01), Abecassis
patent: 5649115 (1997-07-01), Schrader et al.

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