Rules-based accounting system for securities transactions
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United States of America Patent
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Issued Date -
Aug 21, 2003
app pub date -
Feb 15, 2002
filing date -
Feb 15, 2002
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A rules-based accounting system and method for accounting for transactions, comprises a transaction engine for receiving transaction events, an accounting engine for determining a set of rules to apply to the transaction event, deriving accounting information for the transaction based on the set of rules, and posting the derived accounting information to the account. The transaction events are processed as they are received and reconstruction is performed where the transactions are not received in proper order. The set of rules to be applied to the transaction event are determined by a cost basis, transaction classification, asset classification and event type. Rules may added, changed or removed by the user as needed.
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