Patent ID: 7599865

Claim:
A computerized funds management system, comprising: a budgetary ledger system to receive a transaction document and to maintain a budget related transaction by generating a budgetary ledger document for entry in a general ledger system, the general ledger system posting the budgetary ledger document to a general ledger, the transaction document containing transaction data, the transaction data used by general ledger to maintain account balances, the budgetary ledger system including: a core containing a transaction processor, a merger unit to sum up matching accounts identified by at least one account derivation unit, and an iteration unit, and an interchangeable extension set containing a determiner and an account derivation unit, the determiner and the account derivation unit comprising a first set of accounting reporting requirements that is substitutable with a different determiner and a different account derivation unit comprising a second set of accounting reporting requirements different from the first set of accounting requirements, the first and second sets of the accounting reporting requirements using the same core and interchangeable by changing a setting in the system while the system is running wherein: the transaction processor extracts predetermined transaction data requiring reporting to the general ledger system from the transaction document after receiving the transaction document; the determiner compares the extracted transaction data for each transaction to a list of triggering conditions for each collection of accounts associated with a higher-level business process to identify at least one collection of accounts associated with each transaction; for each identified collection of accounts in the list, the iteration unit iteratively sends the name of the collection of accounts and the extracted transaction data associated with the transaction to the account derivation unit; the account derivation unit identifies an account in the collection of accounts associated with the transaction based on the name of the collection of accounts and the extracted transaction data using predetermined accounting rules; and the account derivation unit generates at least a line for recording the transaction in the identified account.