Patent ID: 7620595

Claim:
A computer-implemented financial accounting method, comprising steps of: receiving, in the processor, an electronic data representation of a record of a financial product, wherein the financial product includes a plurality of cash flows, said data representation having a computer-readable attribute pattern; comparing, in the processor, the computer-readable attribute pattern with a plurality of usage criteria stored in memory, each of said usage criteria having a predetermined set of values and each is associated with a chart of accounts template that is part of a set of chart of accounts templates stored in memory, to identify a particular chart of accounts template for the computer-readable attribute pattern; and assigning, in the processor, the particular chart of accounts template to the electronic data representation by matching the electronic form of the data representation with the chart of accounts template stored in memory, changing, in the processor, at least one cash flow of the financial product based on the chart of accounts template; wherein the changing redistributes an electronic representation of an incoming cash flow stream of a borrower's payments received by an electronic funds transfer to a plurality of accounts in amounts different from amounts defined in the data representation.