Patent ID: 8121941

Claim:
A computer-implemented method, said method including: receiving, at a computer for reconciling transactions associated with a transaction account, an account code request from a client, wherein said account code request includes a transaction descriptor and a use constraint, wherein charges associated with a plurality of said different account codes are charged to said transaction account, and wherein said account code request is entered by a user at said client, wherein said transaction descriptor is a customized descriptor defined by said user, wherein said transaction descriptor is associated with at least one of a product category and a budget category, wherein said transaction descriptor is associated with an entry in an accounting system of said user, and wherein said use constraint is associated with at least one of a transaction amount limit, an expiration date, a product and a merchant; pre-reconciling said transactions by associating, at said computer, said transaction descriptor with said account code to create an account code record; communicating, by said computer, said account code to said client; receiving, at said computer, transaction details associated with said transactions from a transaction processor, wherein said transaction details include said account code; determining, by said computer, said transaction descriptor associated with said account code; comparing, by said computer, said transaction details with said transaction descriptor of said account code record to verify approval of said transactions; categorizing, by said computer and based on said transaction descriptor, said transactions into a user-defined grouping; reconciling, by said computer, said transactions to said accounting system based upon said transaction descriptor; and transforming, by said computer and based upon said reconciling and said user-defined grouping, a statement associated with said transaction account into a revised statement.