Global account reconciliation tool
View Patent ↗A global reconciliation software tool is provided to standardize reconciliation processes across various corporate lines of business. The reconciliation tool provides standard templates for entering transaction and account data. In this manner, open accounting items are more readily identified and reconciled. The software tool includes a plurality of components allowing for greater scalability and operability across various computer systems and accounting programs.
1. A method, comprising:
extracting, by a computer based system for managing remote financial data, remote financial data from a financial data system using at least one of a standardized template and a customized template;
converting, by the computer based system, the remote financial data from a second format to a first format via the standardized template;
converting, by the computer based system, the remote financial data from a third format to the first format via the customized template; and
reconciling, by the computer based system, the remote financial data from the standardized template and the customized template to master financial data, wherein the master financial data is stored in a first format.
2. The method of claim 1 , wherein the remote financial data is from at least two remote terminals that use different operating systems.
3. The method of claim 1 , wherein the remote financial data is from at least two remote terminals that use different accounting software applications.
4. The method of claim 1 , wherein the standardized template is operable on a plurality of operating systems.
5. The method of claim 1 , further comprising storing the remote financial data in the second fromat which is receivable by the standardized template.
6. The method of claim 1 , further comprising storing the remote financial data in the third format which is receivable by the customized template.
7. The method of claim 1 , further comprising receiving the remote financial data from a plurality of remote terminals via the standardized template and the customized template, wherein the remote financial data is received in the first format.
8. The method of claim 1 , wherein the remote financial data includes a transaction involving an account, wherein and the master financial data includes a balance due for the account.
9. The method of claim 1 , wherein the standardized template comprises a format that is independent of an operating system and an application.
10. The method of the claim 1 , wherein the customized template comprises a format that is independent of an operating system and an application.
11. The method of the claim 1 , wherein at least one of the standardized template and the customized template is associated with a financial data system.
12. The method of the claim 1 , further comprising transmitting, by the computer based sytem, to the remote terminals, a plurality of functions for generating customized templates for capturing the remote financial data.
13. The method of the claim 1 , wherein the format of the standardized template is Provided in JAVA format.
14. The method of claim 1 , further comprising:
identifying, by the computer based system, an un-reconciled amount based on the reconciling;
analyzing, by the computer based system, the un-reconciled amount;
determining, by the computer based system, a classification of the un-reconciled amount;
processing, by the computer based system, the un-reconciled amount based on the classification; and
updating, by the computer based system, the master financial data based on the remote financial data.
15. The method of the claim 14 , wherein the classification is at least one of write-off, further review required, and reconciled.
16. The method of the claim 14 , further comprising transmitting a notification in response to the classification of the un-reconciled amount.
17. The method of the claim 14 , further comprising updating a balance sheet based on the un-reconciled amount.
18. The method of the claim 1 , further comprising customizing, by the computer based system, the standardized template for capturing the remote financial data with the customization tool to create the customized template.
19. An article of manufacture including a non-transitory, tangible computer readable medium having instructions stored thereon that, in response to execution by a computer-based system for managing remote financial data, cause the computer-based system to perform operations comprising:
extracting, by the computer based system, remote financial data from a financial data system using at least one of a standardized template and a customized template;
converting, by the computer based system, the remote financial data from a second format to a first format via the standardized template;
converting, by the computer based system, the remote financial data from a third format to the first format via the customized template; and
reconciling, by the computer based system, the remote financial data from the standardized template and the customized template to master financial data, wherein the master financial data is stored in a first format.
20. A system comprising:
a tangible, non-transitory memory communicating with a processor for managing remote financial data,
the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising:
extracting, by the processor, remote financial data from a financial data system using at least one of a standardized template and a customized template;
converting, by the processor, the remote financial data from a second format to a first format via the standardized template;
converting, by the processor, the remote financial data from a third format to the first format via the customized template; and
reconciling, by the processor, the remote financial data from the standardized template and the customized template to master financial data, wherein the master financial data is stored in a first format.