System and method for general ledger processing

Abstract

The invention relates to a computer-implemented system and method for scalable, customized general ledger processing. The method may include the step of receiving a client request for customized charts of accounts (COAs) according to a specified time frame. The customized COAs may include client-specific data and third party reference data. The method may involve automatically receiving source information, including position data and transaction data, from a number of sources. The system may include a distributed computer architecture such as Hadoop for parallel storage and processing of the source information across a plurality of nodes. The system can generate debit and credit postings from the source information, roll up the postings into the plurality of customized COAs, and deliver them to the client according to the client's preferred schedule, including in real time or near real time.

What is claimed is: 
     
         1 . A computer-implemented method for scalable, customized general ledger processing for an institution, the method comprising:
 receiving a request from a client for one or more reports relating to one or more customized charts of accounts (COAs) for a specified time frame, wherein the one or more customized COAs include client-specific data and third party reference data;   automatically receiving, via one or more sub-processes running on each node in a distributed file system, source information from a plurality of software systems for one or more global fund services divisions of the institution, specialized systems for tracking derivatives, bank loans, private equity and alternative investments, and third party sources for tracking sources held outside the institution, post tax or regulatory adjusting entries, and other memo entries, the source information comprising data including position data and transaction data, as well as reference metadata comprising information defining one or more general ledger events, chart of accounts, posting rules, and mapping data;   structuring the source information by partitioning the data at an account and a date level for distributed, parallel processing;   distributing the partitioned source information in a statistically even distribution across a plurality of nodes in a distributed computer architecture used for parallel storage and processing;   generating debit and credit postings for a balance sheet, the postings comprising per transaction amount postings, per type postings, per GAAP postings, and per lifecycle data, using the reference metadata to define one or more rules for generation of the debit and credit postings, by performing one or more calculations on the statistically evenly distributed source information simultaneously across the plurality of nodes in the distributed computer architecture, the one or more rules comprising a simple mapping of the debit and credit postings from a source account to one car more target accounts when the source information includes one or more debit and credit journals, and a construction of the debit and credit postings from a plurality of transaction parameters identified from the transaction data;   simultaneously creating, with the debit and credit postings, a plurality of discrete views for one of the one or more customized COAs, the plurality of discrete views comprising one or more client view and a plurality of separately calculated GAAP views accounting for disparate GAAP periodicity, timing, FIFO/average cost method, and amortization, wherein the separately calculated GAAP views are created by processing a plurality of transactions comprising the transaction data under a plurality of GAAP methods, and further including event subtype qualifiers defining a purpose behind one or more fields and security IDs; and   providing the client requested one or more reports electronically to the client in accordance with the specified time frame.   
     
     
         2 . The method of  claim 1 , wherein the distributed file system is a Hadoop cluster, and wherein the distributed computer architecture comprises a scalable Hadoop database distributed across the plurality of nodes. 
     
     
         3 . The method of  claim 2 , wherein the third party reference data comprises accounting data for at least one of: over the counter (OTC) swaps, bank loans, private equity, hedge funds, and off balance sheet collateral. 
     
     
         4 . The method of  claim 2 , further comprising:
 automatically identifying exceptions based on the source information;   suppressing a release of the customized COAs until the exceptions are cleared; and   automatically re-running generation of the customized COAs based on the exceptions.   
     
     
         5 . The method of  claim 2 , further comprising the step of adding a new data feed of source information based on the request from the client for the plurality of customized COAs. 
     
     
         6 . The method of  claim 2 , wherein the step of generating debit and credit postings from the source information comprises deriving posting event types and resulting debit and credit rules from instrument data or other reference data. 
     
     
         7 . The method of  claim 2 , wherein the step of providing the customized COAs electronically to the client comprises providing the customized COAs through a client-specific application programming interface (API). 
     
     
         8 . The method of  claim 2 , wherein the step of providing the customized COAs electronically to the client comprises providing the customized COAs through a client-specific web browser interface. 
     
     
         9 . The method of  claim 2 , wherein the specified time frame comprises a plurality of intra-day data deliveries. 
     
     
         10 . The method of  claim 2 , wherein the specified time frame is defined according to a client-specified calendar. 
     
     
         11 . The method of  claim 2 , wherein the specified time frame comprises real time or near real time. 
     
     
         12 . A computer-implemented system for scalable, customized general ledger processing for an institution, the system comprising:
 a memory; and   a processor that is programmed to:
 receive a request from a client for one or more reports relating to one or more customized charts of accounts (COAs) for a specified time frame, wherein the one or more customized COAs include client-specific data and third party reference data; 
 automatically receive, via one or more sub-processes running on each node in a distributed file system, source information from a plurality of software systems for one or more global fund services divisions of the institution, specialized systems for tracking derivatives, bank loans, private equity and alternative investments, and third party sources for tracking sources held outside the institution, post tax or regulatory adjusting entries, and other memo entries, the source information comprising data including position data and transaction data, as well as reference metadata comprising information defining one or more general ledger events, chart of accounts, posting rules, and mapping data; 
 structure the source information by partitioning the data at an account and a date level for distributed, parallel processing; 
 distribute the partitioned source information in a statistically even distribution across a plurality of nodes in a distributed computer architecture used for parallel storage and processing; 
 generate debit and credit postings for a balance sheet, the postings comprising per transaction amount postings, per type postings, per GAAP postings, and per lifecycle data, using the reference metadata to define one or more rules for generation of the debit and credit postings, by performing one or more calculations on the statistically evenly distributed source information simultaneously across the plurality of nodes in the distributed computer architecture, the one or more rules comprising a simple mapping of the debit and credit postings from a source account to one or more target accounts when the source information includes one or more debit and credit journals, and a construction of the debit and credit postings from a plurality of transaction parameters identified from the transaction data; 
   simultaneously create, with the debit and credit postings, a plurality of discrete views for one of the one or more customized COAs, the plurality of discrete views comprising one or more client view and a plurality of separately calculated GAAP views accounting for disparate GAAP periodicity, timing, FIFO/average cost method, and amortization, wherein the separately calculated GAAP views are created by processing a plurality of transactions comprising the transaction data under a plurality of GAAP methods, and further including event subtype qualifiers defining a purpose behind one or more fields and security IDs; and   provide the client requested one or more reports electronically to the client in accordance with the specified time frame.   
     
     
         13 . The system of  claim 12 , wherein the distributed file system is a Hadoop cluster, and wherein the distributed computer architecture comprises a scalable Hadoop database distributed across the plurality of nodes. 
     
     
         14 . The system of  claim 13 , wherein the third party reference data comprises accounting data for at least one of: over the counter (OTC) swaps, bank loans, private equity, hedge funds, and off balance sheet collateral. 
     
     
         15 . The system of  claim 13 , wherein the processor is further programmed to:
 automatically identify exceptions based on the source information;   suppress a release of the customized COAs until the exceptions are cleared; and   automatically re-run generation of the customized COAs based on the exceptions.   
     
     
         16 . The system of  claim 13 , wherein the processor is further programmed to add a new data feed of source information based on the request from the client for the plurality of customized COAs. 
     
     
         17 . The system of  claim 13 , wherein the processor, in generating debit and credit postings from the source information, is further programmed to derive posting event types and resulting debit and credit rules from instrument data or other reference data. 
     
     
         18 . The system of  claim 13 , wherein the processor, in providing the customized COAs electronically to the client, is further programmed to provide the customized COAs through a client-specific application programming interface (API), 
     
     
         19 . The system of  claim 13 , wherein the processor, in providing the customized COAs electronically to the client, is further programmed to provide the customized COAs through a client-specific web browser interface. 
     
     
         20 . A non-transitory computer readable medium configured to store instructions for scalable, customized general ledger processing for an institution, wherein when executed, the instructions cause a processor to perform the following:
 receiving a request from a client for one or more reports relating to one or more customized charts of accounts (COAs) for a specified time frame, wherein the one or more customized COAs include client-specific data and third party reference data;   automatically receiving, via one or more sub-processes running on each node in a distributed file system, source information from a plurality of software systems for one or more global fund services divisions of the institution, specialized systems for tracking derivatives, bank loans, private equity and alternative investments, and third party sources for tracking sources held outside the institution, post tax or regulatory adjusting entries, and other memo entries, the source information comprising data including position data and transaction data, as well as reference metadata comprising information defining one or more general ledger events, chart of accounts, posting rules, and mapping data;   structuring the source information by partitioning the data at an account and a date level for distributed, parallel processing;   distributing the partitioned source information in a statistically even distribution across a plurality of nodes in a distributed computer architecture used for parallel storage and processing;   generating debit and credit postings for a balance sheet, the postings comprising per transaction amount postings, per type postings, per GAAP postings, and per lifecycle data, using the reference metadata to define one or more rules for generation of the debit and credit postings, by performing one or more calculations on the statistically evenly distributed source information simultaneously across the plurality of nodes in the distributed computer architecture, the one or more rules comprising a simple mapping of the debit and credit postings from a source account to one or more target accounts when the source information includes one or more debit and credit journals, and a construction of the debit and credit postings from a plurality of transaction parameters identified from the transaction data;   simultaneously creating, with the debit and credit postings, a plurality of discrete views for one of the one or more customized COAs, the plurality of discrete views comprising one or more client view and a plurality of separately calculated GAAP views accounting for disparate GAAP periodicity, timing, FIFO/average cost method, and amortization, wherein the separately calculated GAAP views are created by processing a plurality of transactions comprising the transaction data under a plurality of GAAP methods, and further including event subtype qualifiers defining a purpose behind one or more fields and security IDs; and   providing the client requested one or more reports electronically to the client in accordance with the specified time frame.