Patent ID: 8332286

Claim:
A system for enhancing accuracy in enterprise accounting by performing account analysis comprising: a computing device having a processor configured to execute the following steps; (a) extracting accounting accuracy input data from at least one database of accounting entries, wherein each accounting entry contains data pertaining to a recorded transaction from a specified reporting period; (b) compiling inputs, wherein compiling inputs is performed by compiling at least (1) one reconciliation sheet, wherein said reconciliation sheet includes a list of outstanding items in the accounting accuracy input data from a previous reporting period where outstanding items are accounting entries that have no correspondent accounting entry, (2) one action sheet, wherein the action sheet includes an action item for every outstanding item in the accounting accuracy input data from a previous reporting period, wherein the action item details the cause of the lack of the correspondent transaction for the outstanding item, and (3) one ledger record, wherein the ledger record lists accounting entries from a current reporting period; (c) resolving accounting entries in the accounting accuracy input data and the reconciliation sheet, wherein resolving is performed with at least one ledger record and includes linking correspondent accounting entries and identifying outstanding items in the accounting accuracy input data from the current reporting period; (d) generating a reconciliation output, wherein said reconciliation output includes a list of outstanding items from the reconciliation sheet that were not linked in step (c) and outstanding items from the current reporting period identified in step (c); (e) categorizing outstanding items from the current reporting period identified in step (b); (f) revising the reconciliation output and the ledger record that lists accounting entries from a current reporting period, wherein revising includes repeating step (c) until the total of the reconciliation output equals the balance of the ledger record that lists accounting entries from a current reporting period; (g) closing action items that correspond to accounting entries that were linked in step (c), wherein closing is performed by updating pending action items and removing linked action items; and (h) providing an accuracy output, wherein the accuracy output comprises the reconciliation output and an action output, wherein the action output includes all action items on the action sheet and all of the outstanding items from the reconciliation output.