EP-4736104-A1 - A SYSTEM OF RECORDING BUSINESS ACCOUNTING TRANSACTIONS (BAT) INTO SPECIFIED DAY-BOOKS" (ASRAT)

Abstract

A System of Recording Business Accounting Transactions (BAT) into specified day-books" (ASRAT) 5 A System of Recording Business Accounting Transactions (BAT) into specified day-books" (ASRAT) via a computer implemented system for recording of various categories of Business-accounting-transactions based upon unique identification number (BAT/ extended BAT-ID), characterised by A server computer equipped with a processing unit, Scanning-Device, a network port, one 10 or more data storage units/ access units and an accounting system configured upon the as per present invention, comprising of:- System of Allocation of a unique identification number to each category of Business Accounting Transaction Identification Number to plurality of the business-accounting-transactions of a given category and a system of recording of 15 Business-Accounting Transactions, based upon BAT-ID or extended BAT-ID, fetched through "a Scanning Device, as an input mechanism or through any other input mechanism" configured with system to recognise the BAT-ID and /or Extended BAT-ID, as specified/ identified by the user for the given accounting voucher to be recorded, as a business-accounting-transactions, whereby enabling 20 the completion of the recording of the transactions (data entry), just by providing particulars in the given predefined formats, relevant for such category of business- accounting transactions, and selecting the relevant accounting-ledger-heads from the system-driven selected predefined accounting-ledger-head group/ sub-groups

Inventors

• Sharda, Ashokkumar

Assignees

• Sharda, Ashokkumar

Dates

Publication Date

20260506

Application Date

20240814

Claims (10)

1. 1. A computer implemented system for recording of various categories of Business-accounting-transactions based upon unique identification number (BAT/ extended BAT-ID), characterised by A server computer equipped with a processing unit, Scanning-Device a network port, one or more data storage units, and one or more access units and an accounting system configured upon the ASRAT system as per present invention, comprising of:- a) System of Allocation of a unique identification number to each category of Business Accounting Transaction Identification Number (BAT-ID/ or extended BAT-ID) to plurality of the business-accounting- transactions of a given category, configured upon:- Single digit of identification number of the Type of Account, the BAT related transaction to be recorded, belongs to, First Two digit (including the first digit) Identification number of base accounting ledger-head group or day-book where such category of transaction is to be recorded The last digit as the identification number of nature of businesstransaction, involved in each such category of such Business- Accounting-Transactions (BAT), to enable defining the status of the another person(s) as a Giver or Receiver, When the user opts for the three digit BAT-ID as a base system for recording of the transaction, and additionally, Last four digits identification number for Personal Accounting sub-ledger-head groups to be debited/ credited Where the user has opted for the seven digit extended BAT-ID based system for recording the transaction. b) A system of recording of Business-Accounting Transactions, based upon BAT-ID or extended BAT-ID, fetched through “a Scanning Device, as an input mechanism or through any other input mechanism” configured with system to recognise the BAT-ID and /or Extended BAT-ID, as specified/ identified by the user for the given accounting voucher to be recorded, as a business-accounting-transactions, whereby I. On receiving the input of the BAT-ID (when the user has opted for recording the transaction based upon BAT-ID), through the process of scanning or any other input mechanism (discussed in para C below), used as a mode of input of the the BAT-ID, the system is configured to automatically proceed with - System driven selection of the relevant specified day-book, where such a category of BAT related transaction is to be recorded. System driven selection of predefined “Base accounting-ledger- head group/ sub-group” to be debited/ credited for the given category of business-accounting-transactions. System driven selection of the status of the person involved in the category of the BAT related transactions, as a Giver or Receiver, based upon the nature of the transactions, System driven selection of the predefined “Related personalaccounting-ledger-head group” to be debited/ credited for the given category of business-accounting-transactions. With a specified predefined format for providing the required details suitable for the related BAT category transaction. or/ and II. On receiving the input of the extended BAT-ID (when the user has opted for recording the transaction based upon extended BAT-ID), through the process of scanning or any other input mechanism (discussed in para C below), used as input of the the extended BAT-ID, the system is configured to automatically proceed with - System driven selection of the relevant specified day-book, where such a category of BAT related transaction is to be recorded. System driven selection of predefined “Base accounting-ledger- head group/ sub-group” to be debited/ credited for the given category of business-accounting-transactions. System driven selection of the status of the person involved in the category of the BAT related transactions, as a Giver or Receiver, based upon the nature of the transactions, System driven selection of the predefined “Related personalaccounting-ledger-head Sub-group” to be debited/ credited for the given category of business-accounting-transactions. With a specified predefined format for providing the required details suitable for the related BAT category transaction. III. Enabling the completion of the recording of the transactions (data entry) Just by providing further particulars/ information/ figures/ data in the given predefined formats, relevant for such category of business-accounting transactions, and Selecting the relevant accounting-ledger-heads from the system-driven selected predefined accounting-ledger-head group/ sub-groups. c) Input mechanism:- The BAT-ID or the extended BAT-ID can be captured in the system, through any of the following input mechanism: - Scanning of the BAT-ID or the extended BAT-ID as specified by the users on the accounting voucher, and/or Manual input of the BAT/ extended BAT-ID in the system, and/or Selection of the relevant category from the chart of all the BAT- IDs or extended BAT-IDs, as configured in the accounting system used by the users.
2. 2. The system as claimed in claim 1, A digital portal with system for enabling creation of BAT-ID, Extended BAT-ID based upon the category of business-accounting transactions and identification number for Accounting Ledger-head Group and/or Sub-group The digital portal access is OTP password enabled. The portal is divided into various modules as under and operated as per FIG reference no given against each Module: - - Module 01:- System of Categorisation of Accounting Transaction (FIG 04) - Module 02:- Process of Categorisation of Business Transaction based upon subject matter and nature (FIG 05) - Module 03:- System of categorisation of Business Accounting Transaction (FIG 06) - Module 04:- System for allocation of 2 DIGIT identification number for Day Book (FIG07). - Module 05:- System for creating 3 Digit BAT-ID. (FIG08) - Module: - 06 System for creating 7 digit Extended BAT-ID. (FIG09) - Module 07:- System for allocation of 2 DIGIT identification number for Base-accounting-ledger-head Group for each Business Accounting Transaction . (FIG 11) - Module 08:- System for Four digit identification number for subledger heads groups for each Base-accounting-ledger-head Group. (FIG 12) - Module 09:- System for allocation of 2 digit identification number for Related personal accounting ledger-head group Each type of Business Accounting Transaction (FIG 13) - Module 10:- System for 4 Digit identification number for sub ledger head group to Related personal accounting heads groups. (FIG 14) - Module 11:- The system provides for 11 digits (or more digits at option of the users) identification numbers for Accounting Ledgerheads under Base sub-groups/ groups under each category of Business Accounting Transactions (FIG 15) - Module 12:- The system provides for 11 digits (or more digits at option of the users) identification numbers for Accounting Ledgerheads under related Personal sub-groups/ groups under each category of Business Accounting Transactions (FIG 16)
3. 3. The system as claimed in claim 1, the system for creating a unique identification number for each category of business-accounting transactions “BAT-ID”, and extended BAT-ID to be used as a basis for recording the BAT related transactions in the specified day-books, with various categories of predefined BAT/ extended BAT-IDs, as a standard IDs, for given common categories of BAT related transactions.
4. 4. As per the system claimed in claim 1 system for introducing new daybooks, as part of the accounting system, for enabling the recording of each category of BAT related transactions into specified day-books of accounts and thereby introducing five new day-books, as under (the claim for each of such 5 day-books is independent for each day-book) :- I. The system for recording the SIT category of BAT related transactions for Services-Inward or Expenses for availing any Services, in a new day-book called “Services Availed/ Expense Book” II. The system for recording of the SOT category of BAT related transactions for Services-Outwards nature or Sale of Services, in a new day-book called “Sale of Services Book”. III. The system for recording the OIT BAT category of Transactions related to revenue receipts from Fixed Assets owned / Investments owned, into a new day-book called “Other Income Book”. IV. The system for recording of FIT/ FOT categories of BAT related transactions for Purchases/ sale of Fixed Assets, into a new day-book called “Fixed Assets Book”. V. The system for recording of IIT/ IOT BAT related category of transactions for Purchase/ sale of Investment, into a new day-book called Investment Book.
5. 5. As per the system claimed in claim 1, A system for allocation of identification numbers to each day book used for recording the accounting transactions.
6. 6. As per the system claimed in claim 1, A system for categorisation of business dealings based upon subject-matter of the deal and system of coding of these categories
7. 7. As per the system claimed in claim 1, system for categorisation of business accounting transactions based upon the subject-matter of the deal and the nature of the transactions, and system of coding of these transactions.
8. 8. As per the system claimed in claim 1, system for allocation of standard identification numbers for Accounting ledger-head groups, related subgroups, for enabling the users to provide the identification numbers to the related ledger-heads by the users at their own discretion.
9. 9. As per the system claimed in claim 1, system for categorisation of accounting transactions into BAT/ JAT category, based upon whether any other person is involved in the transaction, as a giver or receiver, or not.
10. 10. System of classification of Journal Accounting Transactions and providing identification numbers for the same.

Description

TITLE OF THE INVENTION A System of Recording Business Accounting Transactions (BAT) into specified day-books” (ASRAT) FIELD OF INVENTION [001] The present invention generally relates to the field of information management, identification Number, and coding systems. The present invention particularly relates to a standard system of structuring, managing, classification and recording of Accounting-Transactions into specified day-books” operated through a computerised mechanism. The invention also relates to a process of creating a unique identification number (BAT-ID) for each category of businessaccounting-transactions (BAT)” to enable the recording of BAT-transactions into specified day-books. BACKGROUND OF THE INVENTION [002] Accounting is an age-old concept. Initially, the books of accounts were maintained manually. Technological developments enabled the bookkeeping to be software driven. The objectives of accounting includes recording of the business transactions and to process recorded data, to provide required output i.e. present financial statement/ MIS reports, for the stakeholders. There are many stakeholders (both internal and external) for accounting systems, requiring these outputs from accounting as a base for various analyses, decision-making, compliances, and various other purposes. The accounting system or cycle has two ends and three major steps. Two ends are the input/entry side and reporting side and three stages are:- (i) Input Side:- Involving recording of accounting-transactions into daybooks (also called as subsidiary books), in the suitable and relevant accounting ledger-heads, based upon applicable accounting rules and principles. (ii) Processing: - Processing of the data recorded into day-books, by way of posting the same into the well-defined Accounting ledger-heads under various groups/sub-groups. Processing also includes preparation of Trial-balance and ensuring arithmetic accuracy of the data recorded. (iii) Output Side:- Preparation of financial statements, ratio analyse, MIS reports, etc [003] The Input- side of the accounting system, at present, lacks well defined standard structure, categorisation, standard methodologies, and systems for recording transactions into well defined day-books, at the data entry level. On the other hand, the aspects towards the output side, of the accounting system, have witnessed huge quantum of work being done by various internationally reputed agencies of accountancy, around the world, for example: - • Schedule VI to the Companies Act, 1956 in India, • Tax Audit format introduced by Income Tax department in India, • IFRS (International Financial Reporting Standards), These laws or bodies, related to accounts, finance or taxation, have worked extensively on standardising the reporting systems, while the standardisation of the accounting system towards the entry side is lacking. The processing part of accounting, in between the input side and output side, is mostly software driven. [004] The present invention is to provide systems for structuring, classification of the aspects towards the Input side of accounting, and standardising the system of recording of accounting transactions, into well-defined day-books [005] There are various governing bodies for accountancy courses, the world around and most countries have their own governing body for accounting. In India, The Institute of Chartered Accountants of India, and the Income Tax Act, are the relevant bodies for specifying various books of accounts, required to be maintained by business-entities, as part of the accounting process and compliances. For reference purposes, the related contents of the relevant portion of the documents of these institutions are discussed below, in sections A & section B. [006] Reference section A: Books of account and other documents to be kept and maintained under section 44AA (3) by persons, AS PER RULE 6F (2) of the Income Tax Act, in India. The Books of accounts and other documents to be kept and maintained under section 44AA(3) by persons carrying on certain professions 6F. (2) The books of account and other documents referred to in sub-rule (1) shall be the following, namely: - 1. a cash book 2. a journal, if the accounts are maintained according to the mercantile system of accounting; 3. Ledger 4. carbon copies of bills, whether machine numbered or otherwise serially numbered, wherever such bills are issued by the person, and carbon copies or counterfoils of machine numbered or otherwise serially numbered receipts issued by him: [Provided that nothing in this clause shall apply in relation to sums not exceeding twenty-five rupees;] 5. Original bills wherever issued to the person and receipts in respect of expenditure incurred by the person or, where such bills and receipts are not issued and the expenditure incurred does not exceed fifty rupees, payment vouchers prepared and signed by the person: [007] Reference section B:- Training Material: Introductio