Patent ID: 7895093
Filing Date: 2011-02-22
Classification: G06Q

Abstract:
1. A system for consolidating adjustments comprising: an accounting adjustment journal configured for receiving at least one accounting adjustment entry, the at least one accounting adjustment entry resulting, based on double entry accounting, in at least two rows of transaction details in the accounting adjustment journal, wherein said accounting adjustment journal is separate from an accounting consolidation ledger; an accounting consolidation processor configured for consolidating the accounting consolidation ledger and further configured to post results of the consolidation to the accounting consolidation ledger; a proforma accounting consolidation processor configured for processing the at least two rows of transaction details to create at least two rows of consolidated transaction details, at least one row of the consolidated transaction details corresponding to the accounting adjustment entry, and at least one row of the consolidated transaction details corresponding to an offset of the at least two rows of transaction details in the accounting consolidation ledger, the proforma accounting consolidation processor processing the at least one accounting adjustment entry independent of the accounting consolidation ledger by determining account codes that are affected by the at least one accounting adjustment entry; an accounting pending journal configured for storing the at least two rows of consolidated transaction details, wherein said accounting pending journal is separate from said accounting consolidation ledger and said accounting adjustment journal; an inquiry module configured for displaying accounting consolidation ledger balances, the accounting consolidation ledger balances associated with account codes, the inquiry module further configured to display proforma accounting consolidation ledger balances, the proforma accounting consolidation ledger balances being resultant ledger balances after applying the at least one consolidated accounting adjustment entry to the accounting consolidation ledger balances by updating the ledger balance by the at least one row of the consolidated transaction details corresponding to the offset and corresponding to the determined account codes; and a post module configured to post the at least two rows of transaction details and the at least two rows of consolidated transaction details to the accounting consolidation ledger after review by a user, wherein posting the at least two rows of consolidated transaction details to the accounting consolidation ledger includes determining, based on an account code of the at least one consolidated accounting adjustment entry, if an entry in the consolidation ledger will be created or if an entry that already exists in the accounting consolidation ledger will be updated, and creating or updating based on the determination.