Patent ID: 11961148
Assignee: ZUORA, INC.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 7:
8. A method of managing financial transaction records, comprising:
storing a particular financial transaction record and an accounting ledger for financial transactions, the particular financial transaction record defining a first revenue recognition date or a first revenue recognition trigger condition, the first revenue recognition date being associated with a first portion of revenue or the first revenue recognition trigger condition when satisfied establishing the first revenue recognition date for the first portion of revenue, the accounting ledger including a first open-ended accounting period having a particular start date and an open end date;
presenting a first interface configured to receive the particular financial transaction record defining the first revenue recognition date or the first revenue recognition trigger condition for the particular financial transaction record;
receiving the particular financial transaction record via the first interface;
allocating the first portion of revenue to the first open-ended accounting period;
automatically creating a first defined accounting period, the first defined accounting period having a first start date and a first end date within the first open-ended accounting period;
automatically creating a second open-ended accounting period contiguous to the first defined accounting period, the second open-ended accounting period having a second start date immediately after the first end date and having the open end date;
after creating the second open-ended accounting period, updating the second interface to reflect the second open-ended accounting period and to enable generation of one or more defined accounting periods;
evaluating the particular financial transaction record; and
automatically allocating the first portion of revenue to the first defined accounting period if the first particular revenue recognition date falls within the first start date and the first end date, or automatically allocating the first portion of revenue to the second open-ended accounting period if the first particular revenue recognition date falls on or after the second start date.