US5093787A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Electronic checkbook with automatic reconciliation
Assignee: Individual
•
Filing: 1990-08-06
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Granted: 1992-03-03
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Expires: 2010-08-06
Abstract
Abstract An apparatus for reconciling checking account and other transaction data including first and second data reconciliation control units, each including associated memory, data transference/communication channels for facilitating two-way data communication between the first and second data reconciliation control units, data comparison circuitry, data discrepancy identification circuitry, data editing circuitry and data display circuitry. Data stored in the first memory is compared with data stored in the second memory and discrepancies are identified and if desired the first data set is automatically revised to conform to the second data set. The system gives the user an authorized validation message when the account is reconciled. It also provides for pre-reconciliation error detecting and float projecting for estimating real balances based upon typical transaction clearing delays.
Inventors
- 👤 John C. Simmons
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-02 13:31
CPC Classifications
G; G06; G06Q; G06Q40/00; G06Q40/02; G06Q20/00; G06Q20/04; G06Q20/042; G06Q20/0425; G06Q40/12; G06Q40/128
Claims Analysis
Total Claims: 26
Claim 1
Independent Claim
223 words
A device for monitoring and processing checking account transactions, comprising: first processing means for storing a first set of data corresponding to checking account information; second processing means for storing a second set of data corresponding to said checking account transaction information; first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time; comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data; second communication means for communicating data, including said identified discrepancies, from said discrepancy identification means to said first processing means; electronic and automatic display means associated with said first processing means for electronically and automatically displaying said identified discrepancies; and electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data, electronic validation means operatively connected to comparison means and first and second communication means for giving the user an authorized validation message when the account is reconciled.
Claim 2
Independent Claim
223 words
A device for monitoring and processing checking account transactions, comprising: first processing means for storing a first set of data corresponding to checking account information; second processing means for storing a second set of data corresponding to said checking account transaction information; first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time; comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data; second communication means for communicating data, including said identified discrepancies, from said discrepancy identification means to said first processing means; electronic and automatic display means associated with said first processing means for electronically and automatically displaying said identified discrepancies; and electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data, electronic validation means operatively connected to comparison means and first and second communication means for giving the user an authorized validation message when the account is reconciled.
Claim 3
Dependent Claim
52 words
A device as in claim 1 further comprising: manual entry means associated with said first processing means for manually entering into said first processing means data corresponding to the amount of each of said checking account transactions for use by the discrepancy identification means and for storage in the first processing means.
Claim 4
Dependent Claim
53 words
A device as in claim 1 further comprising: a manual entry means associated with said first processing means for manually entering into said first processing means data corresponding to the payee of each of said checking account transactions for use by the discrepancy identification means and for storage in the first processing means.
Claim 5
Dependent Claim
53 words
A device as in claim 1, further comprising: clock means associated with said first processing means for generating data identifying the time and date that each of said checking account transactions is entered into said first processing means for use by the discrepancy identification means and for storage in the first processing means.
Claim 6
Dependent Claim
56 words
A device as claimed in claim 1, further comprising: manual entry means associated with the first processing means for manually entering into the first processing means data corresponding to the amount of each checking account transaction; wherein the first set of data stored by the first processing means includes data enterable with the manual entry means.
Claim 7
Dependent Claim
56 words
A device as claimed in claim 1, further comprising: manual entry means associated with the first processing means for manually entering into the first processing means data corresponding to the payee of each checking account transaction; wherein the first set of data stored by the first processing means includes data enterable with the manual entry means.
Claim 8
Dependent Claim
57 words
A device as claimed in claim 1, further comprising: a clock associated with the first processing means for generating data identifying the time and date that each of the checking account transactions is entered into the first processing means; wherein the first set of data stored by the first processing means includes data generated by the clock.
Claim 9
Dependent Claim
55 words
A device as in claim 1, further comprising: audit trail creation and reporting means operatively connected to first and second processing means and first and second communication means providing electronic and automatic creation of complete historical audit trail data allowing the user to see a complete history of what changes were made to his account.
Claim 10
Dependent Claim
76 words
A system as claimed in claim 1, further comprising: transaction loss prevention means operatively connected to first processing means and first data set such that the user is warned at the point of transaction that the related transaction being entered will result in an overdraft of fee penalty condition based on balance and effective date information in the first data set with said warning occurring before the transaction is completed thus before the damage is done.
Claim 11
Dependent Claim
83 words
A system as claimed in claim 1, further comprising: calendar means for keeping up with the date and clock means for keeping up with the time, data entry error prevention means operatively connected to first processing means for accessing calendar means and clock means and first data set such that the user is warned before the transaction is completed that the related transaction being entered has an error including the wrong calendar date, the wrong business day date or the wrong check number.
Claim 12
Dependent Claim
52 words
A system as claimed in claim 1, further comprising: transaction synchronization means operatively connected to the first and second data sets, which contain time stamped data, and comparison means to facilitate the reconcilement of on line transactions, bill payment and electronic cash register charges by making use of time and date matching.
Claim 13
Independent Claim
194 words
A system for processing checking account data stored in a host computer, said system comprising: a first memory means for storing a first data set; a substantially real time, electronic transmission means for transmitting said first data set in substantially real time; a processing device operably connected with said host computer and said substantially real time transmission means, said processing device having comparison means for electronically comparing said checking account data with said first data set transmitted in substantially real time by said transmission means; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between datum of said checking account data and datum of said first data set transmitted by said transmission means; electronic and automatic editing means operably connected with said first memory means, said electronic and automatic editing means being responsive to said electronic and automatic discrepancy identification means for electronically and automatically revising said first data set transmitted by said transmission means to conform with said checking account data; electronic validation means operatively connected to comparison means and transmission means for giving the user an authorized validation message when the account is reconciled.
Claim 14
Independent Claim
194 words
A system for processing checking account data stored in a host computer, said system comprising: a first memory means for storing a first data set; a substantially real time, electronic transmission means for transmitting said first data set in substantially real time; a processing device operably connected with said host computer and said substantially real time transmission means, said processing device having comparison means for electronically comparing said checking account data with said first data set transmitted in substantially real time by said transmission means; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between datum of said checking account data and datum of said first data set transmitted by said transmission means; electronic and automatic editing means operably connected with said first memory means, said electronic and automatic editing means being responsive to said electronic and automatic discrepancy identification means for electronically and automatically revising said first data set transmitted by said transmission means to conform with said checking account data; electronic validation means operatively connected to comparison means and transmission means for giving the user an authorized validation message when the account is reconciled.
Claim 15
Dependent Claim
28 words
A system as claimed in claim 12, further comprising: display means for displaying said datum for which discrepancies were identified by said electronic and automatic discrepancy identification means.
Claim 16
Independent Claim
214 words
A system for evaluating a first and a second set of individual bank account transaction data, said system comprising: a first bank account processing means for processing said first set of individual bank account transaction data; a substantially real time bidirectional transmitting means for transmitting, in substantially real time, bank account data to and from said first and second bank account processing means; a second processing means having receiving means operable for receiving said first set of individual bank account transaction data transmitted by said transmitting means; a second bank account processing means for processing said second set of individual bank account transaction data; a comparing means, operatively connected to said transmitting means, said comparing means for electronically comparing individual bank account transaction data of said first set with individual bank account transaction data of said second set; discrepancy identification means, responsive to said comparing means for identifying discrepancies between individual bank account transaction data of said first set and individual bank account transaction data of said second set; electronic validation means operatively connected to comparing means and transmitting means for giving the user an authorized validation message when the account is reconciled; and transaction identification means, for identifying the individual bank account transaction data between which said discrepancy identification means identified a discrepancy.
Claim 17
Independent Claim
214 words
A system for evaluating a first and a second set of individual bank account transaction data, said system comprising: a first bank account processing means for processing said first set of individual bank account transaction data; a substantially real time bidirectional transmitting means for transmitting, in substantially real time, bank account data to and from said first and second bank account processing means; a second processing means having receiving means operable for receiving said first set of individual bank account transaction data transmitted by said transmitting means; a second bank account processing means for processing said second set of individual bank account transaction data; a comparing means, operatively connected to said transmitting means, said comparing means for electronically comparing individual bank account transaction data of said first set with individual bank account transaction data of said second set; discrepancy identification means, responsive to said comparing means for identifying discrepancies between individual bank account transaction data of said first set and individual bank account transaction data of said second set; electronic validation means operatively connected to comparing means and transmitting means for giving the user an authorized validation message when the account is reconciled; and transaction identification means, for identifying the individual bank account transaction data between which said discrepancy identification means identified a discrepancy.
Claim 18
Dependent Claim
25 words
A system as claimed in claim 14, further comprising: error identification means, disposed for identifying the type of discrepancy identified by said discrepancy identification means.
Claim 19
Dependent Claim
25 words
A system as claimed in claim 14, further comprising: display means for displaying the individual bank account transaction data identified by said transaction identification means.
Claim 20
Dependent Claim
36 words
A system as claimed in claim 14, further comprising: automatic reconciliation means for automatically revising said second set of individual bank account transaction data to conform with said first set of individual bank account transaction data.
Claim 21
Independent Claim
208 words
A system for operating a first memory means which stores a first checking account transaction data set, a second memory means which stores a second checking account transaction data set, and an electronic and automatic comparing means, operatively connected with the first and second memory means said system comprising the steps of: communicating, in substantially real time, said first and second checking account transaction data sets from the first and second memory means to the electronic and automatic comparing means; electronically and automatically comparing said first and second transaction data sets in said electronic and automatic comparing means; electronically and automatically identifying discrepancies between said first and second checking account transaction data sets upon electronically and automatically comparing said first and second checking account transaction data sets; displaying said identified discrepancies on a display means; electronically and automatically revising said first checking account transaction data set to correspond with said second checking account transaction data set; communicating said revised first checking account transaction data set to said first memory means; and storing said revised first checking account transaction data set in said first memory means; electronically validating the accuracy of the reconciliation by sending an authorized validation message to the user to be displayed on a display means.
Claim 22
Independent Claim
208 words
A system for operating a first memory means which stores a first checking account transaction data set, a second memory means which stores a second checking account transaction data set, and an electronic and automatic comparing means, operatively connected with the first and second memory means said system comprising the steps of: communicating, in substantially real time, said first and second checking account transaction data sets from the first and second memory means to the electronic and automatic comparing means; electronically and automatically comparing said first and second transaction data sets in said electronic and automatic comparing means; electronically and automatically identifying discrepancies between said first and second checking account transaction data sets upon electronically and automatically comparing said first and second checking account transaction data sets; displaying said identified discrepancies on a display means; electronically and automatically revising said first checking account transaction data set to correspond with said second checking account transaction data set; communicating said revised first checking account transaction data set to said first memory means; and storing said revised first checking account transaction data set in said first memory means; electronically validating the accuracy of the reconciliation by sending an authorized validation message to the user to be displayed on a display means.
Claim 23
Independent Claim
360 words
A device for monitoring and processing checking account transactions, comprising: first processing means for storing a first set of data corresponding to checking account information; second processing means for storing a second set of data corresponding to said checking account transaction information; first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time; comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data; second communication means for communicating data, including said identified discrepancies, from said discrepancy identification means to said first processing means; electronic and automatic display means associated with said first processing means for electronically and automatically displaying said identified discrepancies; and electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data, wherein the second data set is daily or continuously updated; and pre-reconciliation user paper check writing error sensing means associated with second processing means and pre-reconciliation first data set data entry error sensing means associated with the second processing means operatively connected to the second data set and the first data set updated at last reconciliation for sensing problems caused by check writing errors and first data set data entry errors even though those errors have not yet resulted in additional fees, fines or other adverse consequences to the user and even if the user is not in contact with the bank, and for generating a warning condition if a future problem is sensed; pre-reconciliation future overdraft sensing means at host operatively connected to the daily or continuously updated second data set and first data set as updated at last reconciliation for detecting many overdraft conditions before they occur; pre-reconciliation warning communication means for notifying a user of the system of a warning condition.
Claim 24
Independent Claim
360 words
A device for monitoring and processing checking account transactions, comprising: first processing means for storing a first set of data corresponding to checking account information; second processing means for storing a second set of data corresponding to said checking account transaction information; first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time; comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data; second communication means for communicating data, including said identified discrepancies, from said discrepancy identification means to said first processing means; electronic and automatic display means associated with said first processing means for electronically and automatically displaying said identified discrepancies; and electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data, wherein the second data set is daily or continuously updated; and pre-reconciliation user paper check writing error sensing means associated with second processing means and pre-reconciliation first data set data entry error sensing means associated with the second processing means operatively connected to the second data set and the first data set updated at last reconciliation for sensing problems caused by check writing errors and first data set data entry errors even though those errors have not yet resulted in additional fees, fines or other adverse consequences to the user and even if the user is not in contact with the bank, and for generating a warning condition if a future problem is sensed; pre-reconciliation future overdraft sensing means at host operatively connected to the daily or continuously updated second data set and first data set as updated at last reconciliation for detecting many overdraft conditions before they occur; pre-reconciliation warning communication means for notifying a user of the system of a warning condition.
Claim 25
Independent Claim
240 words
A device for monitoring and processing checking account transactions, comprising: first processing means for storing a first set of data corresponding to checking account information; second processing means for storing a second set of data corresponding to said checking account transaction information; first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time; comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data; second communication means for communicating data, including said identified discrepancies from said discrepancy identification means to said first processing means; electronic and automatic display means associated with said first processing means electronically and automatically displaying said identified discrepancies; and electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data; and calendar means for keeping up with the data, clock means for keeping up with the time and float projection means operatively connected to first data set and calendar means for calculating an estimated real balance at the bank based upon typical transaction clearing delays.
Claim 26
Independent Claim
240 words
A device for monitoring and processing checking account transactions, comprising: first processing means for storing a first set of data corresponding to checking account information; second processing means for storing a second set of data corresponding to said checking account transaction information; first communication means for electronically communicating said first set of data, from said first processing means to said second processing means in substantially real time; comparison means operatively connected to receive said first set of data and said second set of data for electronically comparing said first set of data and said second set of data; electronic and automatic discrepancy identification means responsive to said comparison means for electronically and automatically identifying discrepancies between said first set of data and said second set of data; second communication means for communicating data, including said identified discrepancies from said discrepancy identification means to said first processing means; electronic and automatic display means associated with said first processing means electronically and automatically displaying said identified discrepancies; and electronic and automatic editing means associated with said first processing means for electronically and automatically revising said first set of data to conform to said second set of data; and calendar means for keeping up with the data, clock means for keeping up with the time and float projection means operatively connected to first data set and calendar means for calculating an estimated real balance at the bank based upon typical transaction clearing delays.
References Cited (Backward Citations)
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 1995-03-03 | 1995-09-02 | 1996-03-03 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 1999-03-03 | 1999-09-02 | 2000-03-03 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2003-03-03 | 2003-09-02 | 2004-03-03 | $7700.00 | Window Closed / Lapsed |