Bulk Financial Transaction Entry Interface
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Solution Overview
Problem
In computer-based financial accounting systems, manually entering the same financial transactions for multiple parties is time-consuming and repetitive, especially during large-scale events like membership drives, where hundreds of individuals pay the same fee, requiring repetitive entry of transaction details including taxable status.
Innovation Solution
A user interface that allows for the automatic generation and processing of multiple related financial transactions by selecting common transaction types, dates, and amounts, with options for automatic sales tax calculation and group management, enabling efficient entry and editing of transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual entry of each transaction is performed, then accuracy and control are maintained, but time consumption and labor intensity increase significantly
Solution Approach 1:
The patent merges multiple identical transaction entries into a single bulk entry operation. Instead of entering each transaction separately, the system allows users to specify common parameters (date, amount, account) once and automatically generates multiple transactions for different payees, transforming a repetitive manual process into a single efficient operation.
Solution Approach 2:
The system performs preliminary setup by storing payee information and transaction templates in advance. When bulk entry is needed, the pre-stored payee lists and transaction patterns are automatically applied, eliminating the need to re-enter the same information for each transaction and significantly reducing entry time.
2Ease of operation
If repetitive entry of transaction details is performed, then completeness of information is ensured, but user effort and time increase
Solution Approach 1:
The system creates copies of transaction templates and applies them automatically to multiple payees. Instead of manually recreating the same transaction details for each entry, the system replicates the transaction structure and populates it with different payee information from stored lists, dramatically simplifying the entry process.
Solution Approach 2:
The bulk entry feature serves multiple functions: it can process transactions for different payees, apply different tax rates automatically, generate checks or electronic payments, and maintain audit trails. This multi-functional capability replaces multiple separate manual operations with a single unified process.
3Productivity
If automatic generation of multiple transactions is implemented, then time efficiency improves, but system complexity increases
Solution Approach 1:
The system performs automatic tax calculation, payee selection, and transaction generation without requiring complex manual intervention. Once the user initiates bulk entry with basic parameters, the system autonomously retrieves payee information, calculates applicable taxes based on stored rates, generates the transactions, and updates accounts automatically.
Solution Approach 2:
The system introduces an intermediary processing layer that sits between the user's simple bulk entry command and the complex transaction generation tasks. This intermediary automatically coordinates payee list retrieval, tax rate application, transaction template selection, and result verification, managing the complexity internally while presenting a simple interface to the user.
4Productivity
If tax calculation is performed manually for each transaction, then accuracy can be verified, but time consumption increases
Solution Approach 1:
The system automatically calculates taxes for each transaction in the bulk set by retrieving applicable tax rates from stored data and applying them to the transaction amounts. This self-service tax calculation eliminates manual computation while maintaining accuracy through consistent application of pre-verified tax rates, and the results can be reviewed in the generated transaction list.
Data Source
AI summary
A method and system are provided for processing multiple related financial transactions in a computer-based financial accounting system. The multiple related financial transactions have at least one of a common transaction type, a common transaction date and a common transaction amount. The method steps include receiving one or more of the common transaction date, the common transaction type, and the common transaction amount, receiving a set of parties, each party corresponding to at least one of the plurality of related financial transactions, and generating a plurality of related financial transactions, each related financial transaction of the plurality of generated related financial transactions comprising one of the set of parties and at least one of the common transaction date, the common transaction type, and the common transaction amount.