Patent ID: 8121913

Claim:
A hosting system for hosting one or more clients, comprising: a central processing unit; a source database to store source data pertaining to a financial account, the source data including at least one source document, the source data exhibiting a source balance; an application database to store ledger data pertaining to the financial account, the ledger data exhibiting a ledger balance; and an account reconciliation application executing, using the central processing unit, at the application database to create reconciliation documents that associate items of the ledger data with corresponding items of the source data pertaining to the financial account and determine reconciliation rules to reconcile any differences between corresponding portions of the source balance and the ledger balance, the reconciliation documents being based in part on reconciliation profiles, the reconciliation profiles determining how the financial account is to be reconciled by, at least, determining the reconciliation rules and thereby how the source balance and the ledger balance are to be reconciled, the account reconciliation application creating the reconciliation profiles by way of a profile creation screen that enables input of information used to establish the reconciliation profiles, each of the reconciliation profiles having individualized reconciliation rules for reconciliation of the financial account, wherein at least one of the reconciliation profiles includes supplementary information that corresponds to a past reconciliation of the financial account, the supplementary information being applied to the reconciliation of the financial account, and the account reconciliation application splitting at least one of the reconciliation profiles into a plurality of split profiles according to additional attributes that define the financial account.