Patent ID: 8055559

Claim:
A computer implemented method for Account Receivable (AR) accounting 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 multi-company invoice with the multi-company accounting system, the interface user entering financial data into the multi-company accounting system via the computer arrangement including: entering an invoice total money amount; and entering input invoice detail lines, each of the input invoice detail lines having an entered account associated with one of a plurality of companies of a multi-company group and an amount of money, at least two of the input invoice detail lines being associated with two distinct companies of the multi-company group, wherein the distinct companies are affiliated with each other and wherein each uses the multi-company accounting system for tracking money flow and balancing balance sheets for their respective accounting operations; at the processor, automatically adding via the multi-company accounting system at least a pair of multi-company generated balancing lines associated with the multi-company invoice for balancing money owed to each of the distinct companies to define an outstanding balance associated with each of the distinct companies, thereby keeping Accounts Receivable for each of the distinct companies in balance; at the processor, entering a payment for paying the multi-company invoice including the interface user entering an amount of the payment into the multi-company accounting system via the computer arrangement; and at the processor, applying the payment to the multi-company invoice to reduce the outstanding balances for the distinct companies including the multi-company accounting system automatically adding at least a pair of multi-company generated Due To/Due From lines as Due To/Due From entries to balance the money owed between the distinct companies, thereby keeping the Accounts Receivable for each of the distinct companies in balance.