Patent ID: 8150745

Claim:
A computer implemented method for journalizing financial information for use in a general ledger (GL) and for use within a multi-company accounting system that operates on a computer arrangement and which is accessible by one or more persons defining an interface user, the method comprising: at a processor, creating a journal within the multi-company accounting system, the interface user entering financial data into the multi-company accounting system via the computer arrangement including: selecting one of a plurality of companies of a multi-company group as a main company for the journal; and entering input detail lines of the financial data to define the journal, each of the input detail lines associated with a GL date, an account associated with one of the plurality of companies of the multi company group, and a debit or credit amount; at the processor, releasing the journal within the multi-company accounting system to limit changes to the input detail lines to define a released journal; at the processor, adding multi-company detail lines to the released journal including for a sum that is not zero of debits and credits by the GL date for a corresponding company of one of the plurality of companies of the multi-company group that is not the main company, the multi-company accounting system will automatically add a pair of the multi-company detail lines to the released journal to balance monies owed between the main company and the corresponding company, thereby keeping balance sheets for each of the main company and the corresponding company in balance, and wherein the main company and the corresponding company are different companies that are affiliated with each other and each uses the multi-company accounting system for tracking money flow and balancing the balance sheets for their respective accounting operations; and at the processor, posting the released journal with the multi-company detail lines to the GL.