Modified cash ledger basis for an accounting system and process

Abstract

A business system and process which utilizes an improved method of providing accounting methods for entering, updating and posting financial events, as well as an improved method for updating simultaneously a plurality of ledgers and sub-ledgers according to a preselected set of parameters or rules, which provides improved real time reporting capabilities to management, staff, partners and others. The improved system and method manipulates, stores, and reports on ledger items including, but not limited to: statutory cash ledgers, cash and accrual ledgers, and management cash ledgers and similar accounting ledgers commonly utilized in the relevant art of professional time, record and accounting keeping.

What is claimed is: 
     
         1 . An improved ledger accounting system comprising:
 a general ledger for capturing all types of business financial accounting events;   a modified statutory cash ledger for capturing only a portion of the business financial accounting events found in the general ledger according to pre selected statutory rules;   a modified statutory accrual ledger for capturing only a portion of the business financial accounting events found in the general ledger according to preselected statutory rules;   and, a management cash ledger for capturing only a portion of the business financial events according to preselected transfer rules;   
     
     
         2 . The improved ledger accounting system according to  claim 1  further comprising;
 set of sub ledgers containing at least one of the following: an accounts receivables event; an accounts payables event; a fixed asset value event or a general ledger item. 
 
     
     
         3 . The improved ledger accounting system according to  claim 1  further comprising:
 a set of transfer rules for capturing only some of the general ledger events which occur either during at least one of the following events: a post transaction and a payment transaction. 
 
     
     
         4 . The improved ledger accounting system according to  claim 1  further comprising a leading ledger which utilizes a set of transfer rules to decide one of the following: to ignore a newly posted event and to capture it in the management cash ledger. 
     
     
         5 . The improved ledger accounting system according to  claim 1  further comprising a manual event entry system which is capable of posting an item directly to at least one of the following ledgers: statutory cash ledger, statutory accrual ledger and management cash ledger. 
     
     
         6 . The improved ledger accounting system according to  claim 1  further comprising a posting system for at least one of the following types of financial events: client invoices, vendor invoices, client payments, vendor payments and fixed assets. 
     
     
         7 . The improved ledger accounting system according to  claim 1  further comprising a display system which is capable of displaying at least one of the following screens: management cash ledger trigger screen; a data entry screen; a final invoice screen; a client payment entry screen; a vendor payment entry screen and a fixed asset value entry screen. 
     
     
         8 . A method for providing an improved ledger accounting screen comprising the steps of:
 providing a CPU and data storage unit;   providing at least one server communicating with the CPU and data storage unit;   providing a leading ledger, a statutory accrual ledger, a management cash ledger;   providing a set of rules to make the determination of which ledgers may capture the financial event.   
     
     
         9 . The improved ledger accounting method of  claim 8  further comprising the steps of:
 providing a set of sub ledgers containing at least one of the following: an accounts receivables event; an accounts payables event; a fixed asset value event and a general ledger item. 
 
     
     
         10 . The improved ledger accounting method of  claim 8  further comprising the steps of:
 providing a set of transfer rules for capturing only some of the general ledger events which occur during at least one of the following events: a post transaction and a payment transaction. 
 
     
     
         11 . The improved ledger accounting method of  claim 8  further comprising the steps of:
 providing a leading ledger which utilizes a set of transfer rules to decide one of the following; to ignore a newly posted event and to capture it in the management cash ledger. 
 
     
     
         12 . The improved ledger accounting method of  claim 8  further comprising the steps of:
 providing a manual event entry system which is capable of posting an item directly to at least one of the following ledgers: the statutory cash ledger, the statutory accrual ledger and the management cash ledger. 
 
     
     
         13 . The improved ledger accounting method of  claim 8  further comprising the steps of:
 providing a display system which is capable of displaying at least one of the following screens: management cash ledger trigger screen; a data entry screen; a final invoice screen; a client payment entry screen; a vendor payment entry screen and a fixed asset value entry screen.