Patent ID: 7890391

Claim:
A method for implementing a revenue recognition model in an automated environment, comprising: receiving rules associated with an entity, the rules received at a financial computing system via a communications network to which the financial computing system is coupled; receiving information associated with a transaction at the financial computing system; determining a user of the financial computing system to respond to one or more questions associated with the transaction; communicating, over the communications network, the one or more questions to the user; receiving a response to one or more of the questions from the user at the financial computing system; communicating information associated with the transaction for a user to verify; receiving verifications; implementing, at the revenue recognition module of the financial computing system, one or more automated processes to determine whether revenue from the transaction is recognizable based on the received information associated with the transaction and the received response to one or more of the questions; if revenue is recognizable, removing the transaction from an accounts receivable module of the financial computing system; recognizing the revenue as current revenue if the entity has earned a payment for the transaction; recognizing the revenue as deferred revenue if the entity has not earned the payment for the transaction; and updating a general ledger of the financial computing system to reflect revenue of the transaction as a selected one of current revenue and deferred revenue.