Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Accounting
Reexamination Certificate
1998-06-19
2001-06-12
Cosimano, Edward R. (Department: 2761)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Accounting
C705S035000, C705S038000, C705S039000, C705S040000, C705S042000
Reexamination Certificate
active
06246999
ABSTRACT:
TECHNICAL FIELD
The present invention relates generally to the consolidation into a single source work flow database and the distributed presentation via the World Wide Web (WWW) of settlement and balancing (accounting) information for credit card acquiring systems.
BACKGROUND ART
A combination of computer generated paper reports and manually generated spreadsheet inventory queues were used in the past for the presentation of accounting reports to credit card acquiring systems. A problem with this approach is that the labor intensive process of combining the reports and the spreadsheets is directly proportional to the level of transaction volume. This is a constraint to future growth in terms of labor resources, facilities, and the amount of time required to manually compile and track the data. Another problem with this approach is that because of the numerous information sources (reports and spreadsheets) there is no single (centralized) source for work of an acquiring's settlement position.
What is needed is an on-line method of providing a secured, on-line access of daily settlement information via the World Wide Web (WWW) for acquiring bank clients.
SUMMARY OF THE INVENTION
Accordingly, it is an object of the present invention to provide a method of presenting accounting reports for use on the World Wide Web (WWW) by external bank clients.
In accordance with the above object and other objects, the present invention provides a method of reporting accounting information to acquiring banks. The method includes compiling accounting information from different processing systems to a mainframe. The accounting information is then routed to a database residing on a server operable with the World Wide Web (WWW). Different reports of the accounting information are then accessed with a client station operable with the server.
The advantages of the present invention are numerous. For example, the present invention eliminates the need for manually generated balancing proofs, populated from paper reports (cut and paste). The present invention also accelerates delivery and presentation of settlement information to acquiring bank clients. The present invention can be deployed along side other acquiring processing systems to streamline their process and reduce the time between submission and settlement position.
These and other features, aspects, and embodiments of the present invention will become better understood with regard to the following description, appended claims, and accompanying drawings.
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Abram Timothy James
Riley James F.
Sudec John A.
Brooks & Kushman P.C.
Cosimano Edward R.
First Data Corporation
Harle J.
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