Patent ID: 8359214

Claim:
A computer system for processing data for an account of a financial product, comprising: a memory device, in communication with the processor, the memory device storing data relating to the financial product, the stored data including account value data and periodic charge data in the nature of charges related to compensation of advisors and based on a rate to be applied to the account value for a term equal to a duration of a first period; a processor in communication with the memory device and configured to: access account value data and charge data from the memory device; on a basis of a second period, shorter than the first period, throughout the first period: calculate an amount of fractional charge based on the rate, the account value and a ratio based on a number of second periods in the first period; update the account value by decrementing the account value in the amount of the fractional charge; store the updated account value in the memory device; and store each of the amounts of the fractional charges in the memory device; at the end of the first period: calculate a reference charge for the first period based on the rate applied to the account value at one day during the first period; calculate a sum of the fractional charges for the first period; compare the reference charge for the first period and the sum of the fractional charges for the first period; responsive to determining that the reference charge for the first period is less than the sum of the fractional charges, calculate an updated account value equal to the sum of the updated account value for the day of calculation and a difference between the reference charge for the first period and the sum of the fractional charges; and provide output data indicative of the account value and, if the account value was increased by the difference between the reference charge for the first period and the sum of the fractional charges, provide output data indicative of the difference between the reference charge for the first period and the sum of the fractional charges; and a printing and mailing system configured to receive output data from the processor and print account statements reflecting the received data.