Chase checking account statement pdf
5 stars based on
62 reviews
The present invention relates to verifying that financial data is accurate, and in particular, to tracking and reporting the verification and approval process in addition to tracking and reporting other user-defined issues associated with the accuracy of the data. Many businesses receive large amounts of financial data on a daily or other frequent basis. The financial data may be associated with some aspect of the business itself or with a division or subsidiary of the business.
In either situation, the financial data may be segregated into sub-groups, which may ledger balance pnc virtual wallet referred to by an arbitrary designation, such as an account number, or cost center. The business typically maintains a general ledger system with balance sheets for each sub-group of financial data.
The changes to the financial data of the sub-group are recorded in the sub-group's balance sheet as they occur. Generally, at a later time, such as once a month or once a quarter, the balance sheet is reconciled against the underlying documentation supporting the changes in the balance sheet to ensure the balance sheet is a correct representation of the sub-group's financial ledger balance pnc virtual wallet. For instance, in the banking industry, a bank maintains a balance sheet for each account to record all ledger balance pnc virtual wallet the transactions associated with the account on a day-to-day basis.
The underlying documentation supporting the value of the asset or liability associated with the transaction is then analyzed on a daily, weekly or other basis to ensure that the values recorded in the balance sheet are supported by and reconcile with the underlying transaction documentation. This process is termed the reconciliation of the account.
Although reconciling the balance sheet against the underlying transaction documentation is an important function of the business, in the conventional process, no way exists to efficiently ensure the accuracy of the reconciliation for all of the sub-groups or accounts.
Even if the reconciliation is reviewed and approved by another individual, there is no way to track the reconciliation and approval process and to ledger balance pnc virtual wallet all of the sub-groups or accounts are receiving the correct type of analysis at the end of the specified period. In a business with multiple sub-groups or accounts, it would take a significant amount of time to track and ensure that the reconciliation and approval process was performed appropriately at the end of each specified period because each sub-group or account ledger balance pnc virtual wallet have to be accessed and checked individually.
In addition, during the reconciliation procedure, outstanding issues may be identified regarding the account. Some of these issues may be resolved immediately, but others may be set aside for ledger balance pnc virtual wallet at a later time. For example, in a bank account, a transaction may not have cleared at the time of reconciliation, but it would be reasonable to assume that it will clear in the next few days through the normal banking channels.
In the conventional reconciliation procedures, there does not exist a way to monitor the issues that are set aside for resolution at a later time. Many times these issues are not addressed until it is too late to resolve them because they may be overlooked at the next reconciliation period or because of a lack of accountability for the issue by the person responsible for resolution. Additionally, there is no efficient and accurate way to track all of the outstanding issues or to track who the individuals are that authorized setting the issues aside to be resolved at a later date.
In the conventional process, all of the files or documents associated with each sub-group or account would have to be accessed individually in order to track the status of the outstanding issues. Thus, there exists a need in the industry for a system that tracks and reports the reconciliation and approval process and provides instantaneous reporting regarding the status of the process.
In addition, there exists a need for a system to track and report all of the outstanding issues associated with all of the sub-groups or accounts managed by a business such that the issues can be addressed before it is too late to resolve them properly.
The present invention of a method, system and computer program product for verifying financial data provides tracking and reporting of the reconciliation and approval process by recording the certification and approval of reconciliation by the users ledger balance pnc virtual wallet for reconciliation of the account. The present invention also permits instantaneous reporting regarding the status of the financial data associated with the account and the status of the certification and approval process.
Moreover, the method, system and computer program product of the present invention are capable of tracking the outstanding issues associated with the financial data managed by a business. As such, the appropriate user or users may be notified of the issue if it is without resolution after a specified timeframe and prevent the issue from being inadvertently overlooked until it is too late to properly resolve it.
Thus, the method, system and computer program product for verifying financial data of the present invention track the actions of the users responsible for the verification of the financial data and allow businesses to manage large amounts of financial data in an efficient and timely manner.
The method, system and computer program product for verifying financial data provide a hierarchical list of users responsible for verification of at least a portion of the financial data. The hierarchical list defines the relationships among the users. The method, system and computer program product also automatically notify at least one user, based upon the hierarchical list, to reconcile the financial data and at least one user, ledger balance pnc virtual wallet upon the hierarchical list, to approve the reconciled financial data once the financial data has been reconciled and certified.
In addition, any certification and approval of ledger balance pnc virtual wallet financial data is recorded. The method of the present invention also includes analyzing the financial data to determine if the financial data is reconcilable and, if so, certifying the reconciliation of the financial data.
The method also analyzes the reconciliation of the financial data to determine if the reconciliation is to be approved. The system of the present invention comprises a client that includes a browser for receiving input from and providing output to a user.
The system also includes a server in communication with the client via a computer network. Various embodiments of the method, system and computer program product of the present invention may include some ledger balance pnc virtual wallet all of the following features. If so, the respective user may choose that the comments may be viewed only by the user making the comments, by all other users, or only by a specified group of at least one user.
The financial data may be organized into accounts, and each account may be associated with at least one user for certification and at least one user for approval. Profile information defining a level of access to the financial data available to each user may also be provided, and reports may be prepared for a respective user having content based upon the level of access defined by the profile information for the respective user. The reports may also contain links to other information associated with the financial data presented in the reports.
In particular, the user responsible for reconciliation is typically permitted to access the financial data required to reconcile the ledger balance pnc virtual wallet. Issues associated with the financial data may also be recorded. Then, if an issue associated with the financial data is not resolved by a ledger balance pnc virtual wallet timeframe, the method, system and computer program product of the present invention may automatically notify at least one user, based upon the hierarchical list, that the issue is not resolved.
This additional notification permits timely resolution of issues associated with the financial data. Furthermore, the method, system and computer program product of the present invention may detect when new financial data is received and may automatically notify the at least one user responsible for certification in response to the detection of the new financial data.
Any of the automatic notifications described above may be electronic mail notifications. Having thus described the invention ledger balance pnc virtual wallet general terms, reference will now be made to the accompanying drawings, which are not necessarily drawn to scale, and wherein:. The present invention now will be described more fully hereinafter with reference to the accompanying drawings, in which preferred embodiments of the invention ledger balance pnc virtual wallet shown.
This invention may, however, be embodied in many different forms and should not be construed as limited to the ledger balance pnc virtual wallet set forth herein; rather, these embodiments are provided so that this disclosure will be thorough and complete, and will fully convey the scope of the invention to those skilled in the art.
Like numbers refer to like elements throughout. The method, computer program product and system for verifying financial data of the present invention effectively create accountability and track the reconciliation and approval process by automatically notifying the responsible users of their duties and recording the actions taken by those users. The system 20 typically includes a client component 22 and a server connected via a computer network For example, the server may be a web server and an application server that may be located on the same physical device or the web server may be separate from and in communication with the application server via the Internet, intranet or any other computer network.
The system 20 also generally includes a processing component As shown in FIG. The ledger balance pnc virtual wallet component 22 and the processing component 24 and, in one ledger balance pnc virtual wallet, the web and application server s ledger balance pnc virtual wallet the processing component 24 may be distributed as parts of different workstations, computers, servers or computing devices that may be in different physical locations and in communication with each other via the Internet, intranet or other computer network To be consistent, the discussion hereinafter refers to the different components of the system 20 as being distributed, unless otherwise stated.
In an alternative embodiment, however, the client component 22 and the processing component 24 may be part of a single workstation, computer, server or other computing device ledger balance pnc virtual wallet, as such, may communicate with each other via internal transmissions. Regardless of the configuration, the database 28 is accessed by other elements of the financial data verification system 20 via an interface, such as active data object ADO interface or open database connectivity ODBC interface.
The client component 22 may be a laptop computer 32a personal computer or workstation 34networked personal computers or workstations 36or any other type of computing device or configuration operating on any type of computer platform and capable of supporting a browser interface.
The browser interface is generally an Internet browser, but other browser interfaces capable of appropriately displaying the financial data, soliciting user input, and communicating with the computer network 26 may be utilized if desired.
The system 20 may include many client components 22 such that many users may utilize the financial data verification system The client component s 22 may physically be located anywhere as long as the client component s 22 are in communication with the processing component via the Internet, intranet or other computer network As described above, the processing element 24 of one advantageous embodiment includes a web and application server, ledger balance pnc virtual wallet may utilize any modem operating system, such as Microsoft Windows, and any modem web development platform, such as ColdFusion, commercially available from Macromedia, Inc.
The application program may reside on the web and application server s. As known to those skilled in the art, the screens may be interactive and prompt the user for the action or information necessary for the financial data verification system 20 to record and report the status of the financial data. For example, if the particular user is to perform a task regarding the financial data, the application program provides a screen to the user containing the information from the database associated with the task and prompting the user to perform the task.
Furthermore, if the particular ledger balance pnc virtual wallet requests a report regarding the financial data, the application program receives the request from the user via a screen, queries the database 28 for the requested information, populates and formats another screen containing the requested information, and submits the screen to the client component 22 for viewing by the user via the browser interface.
The database 28 may contain a variety of stored information, including the financial data and any other information regarding the users, timeframes, and accounts associated with the financial data.
The database may be any type of modern database, such as Sequel or Oracle. The data may be stored in tables in the database. The tables may include a users' table that contains profile information for each user of the financial data verification system The profile information for a user may include information about the user, such as a userID or username and any contact information, and may define the user's level of access to the financial data and other administrative or maintenance functions associated with the system Which options a particular user may access depends upon the level of access defined in the user's profile.
For example, if a user's profile defines that the user is authorized to certify the reconciliation of financial data for a particular account, the user will be permitted to interact with the certification screens by selecting the certification option 62 via a selection device such as a computer keyboard, a mouse or otherwise.
The screens associated with the approval option 64 are available for interaction by any user whose profile specifies authorization to approve the reconciliation of an account. The screens associated with the additional approval option 66 are available for interaction by any user whose profile specifies authorization to approve any issues regarding the account that require approval in addition to the reconciliation approval. The screens associated with the inquiry menu option 68 are available for interaction by users authorized to access and view the ledger balance pnc virtual wallet stored on ledger balance pnc virtual wallet database, such that these users may request and view reports containing the data or portions of the data.
These users are typically database administrators, but different levels of access may be defined such that certain users may have access to change portions of the data stored in the database The options described above are examples of general options that may be available to users of the system Other options may be added or the options described above may be combined in other embodiments of the system 20 of the present invention.
The tables stored in the database 28 may also include hierarchical lists associated with particular financial data accounts. The hierarchical list is a list of the users responsible for the integrity of the financial data in a particular account. The list includes not only the users having a duty to perform a task regarding the account, but also any users ultimately responsible for the account that should be notified if any task regarding the account is ledger balance pnc virtual wallet performed, at least not within a specified timeframe.
The hierarchical list 72 may be ledger balance pnc virtual wallet by any user of the financial data verification system 20 having access to ledger balance pnc virtual wallet hierarchical list administrative function associated with the account. For example, the hierarchical list may include the UserID 74the relationship to the account 76ledger balance pnc virtual wallet escalation sequence 78the user's name 80and the email address 82 for each user.
The UserID 74 is a unique combination of letters, numbers or symbols that is associated with the particular user. Other information regarding the user that is stored in the database, such as profile information, may be identified by searching for the particular UserID. The relationship to account 76 defines the label applied to the user that corresponds to the user's responsibility regarding the account.
For example, the primary certifier is responsible for reconciling the financial data stored in the account against the business' records and certifying that the reconciliation is complete. In other embodiments of the hierarchical list 72one or more secondary certifier s may also be identified to serve as backup to the primary certifier.
The primary approver is responsible for reviewing the certified reconcilement of the certifier and determining whether to approve the reconcilement or reject the reconcilement and require the certifier to reconcile the account again. Secondary approver s may also be identified to perform the reconcilement review and approval if the primary approver does not do so within a specified period of time.
For example, the hierarchical list of FIG. The secondary approver 1 may be notified to perform the reconcilement review and approval if the primary approver does not do so within a specified period of time. Then, if the secondary approver 1 does not perform the reconcilement review and approval within a specified period of time, the secondary approver 2 may be notified to do so.
For example, the BUO may not only be generally responsible for the financial data contained in the account, but also for maintaining the hierarchical list 72 for the account. The above BUO levels are users that are responsible for the overall account, generally in management capacity, such that they should be notified if there are issues of defined degrees of severity regarding the account.
The escalation sequence 78 represents the sequence of notifications regarding the tasks to be performed with respect to the account.
