U.S. patent application number 12/752976 was filed with the patent office on 2010-07-29 for system and method for managing allocation of funds between a plurality of entities.
Invention is credited to Hugo Olliphant.
Application Number | 20100191629 12/752976 |
Document ID | / |
Family ID | 39155436 |
Filed Date | 2010-07-29 |
United States Patent
Application |
20100191629 |
Kind Code |
A1 |
Olliphant; Hugo |
July 29, 2010 |
SYSTEM AND METHOD FOR MANAGING ALLOCATION OF FUNDS BETWEEN A
PLURALITY OF ENTITIES
Abstract
Embodiments of the present invention provide a system and method
for managing allocation of funds between a plurality of entities.
In example embodiments, details of a remuneration to the plurality
of entities are received. The remuneration relates to at least one
transaction and the received details identify a list of individuals
to be remunerated and an amount of the remuneration to be allocated
to each of the individuals on the list. Funds associated with the
remuneration are allocated among the plurality of entities to be
remunerated based on at least a portion the details of the
remuneration.
Inventors: |
Olliphant; Hugo; (San
Francisco, CA) |
Correspondence
Address: |
SCHWEGMAN, LUNDBERG & WOESSNER/EBAY
P.O. BOX 2938
MINNEAPOLIS
MN
55402
US
|
Family ID: |
39155436 |
Appl. No.: |
12/752976 |
Filed: |
April 1, 2010 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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12554785 |
Sep 4, 2009 |
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12752976 |
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12025223 |
Feb 4, 2008 |
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12554785 |
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09633962 |
Aug 8, 2000 |
7343335 |
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12025223 |
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Current U.S.
Class: |
705/30 ; 705/39;
715/764 |
Current CPC
Class: |
G06Q 40/04 20130101;
G06Q 20/102 20130101; G06Q 40/025 20130101; G06Q 40/06 20130101;
G06Q 40/12 20131203; G06Q 40/00 20130101; G06Q 20/10 20130101; G06Q
30/0613 20130101; G06Q 30/06 20130101 |
Class at
Publication: |
705/30 ; 705/39;
715/764 |
International
Class: |
G06Q 20/00 20060101
G06Q020/00; G06Q 10/00 20060101 G06Q010/00; G06F 3/048 20060101
G06F003/048; G06Q 40/00 20060101 G06Q040/00; G06Q 30/00 20060101
G06Q030/00 |
Claims
1. A method comprising: receiving details of a remuneration, the
remuneration relating to at least one transaction and the received
details identifying a list of individuals to be remunerated and an
amount of the remuneration to be allocated to each of the
individuals on the list; and allocating, using one or more
processors, the remuneration among the individuals based on the
received details.
2. The method of claim 1, wherein the receiving of the details of
the remuneration is received via a graphical user interface.
3. The method of claim 1, wherein the receiving of the details of
the remuneration comprises constructing a table including the
individuals and the amount for each of the individuals.
4. The method of claim 1, further comprising saving the details of
the remuneration,
5. The method of claim 4, wherein the saving of the details of the
remuneration occurs prior to the allocating of the
remuneration.
6. The method of claim 1, wherein the details of the remuneration
are associated with a purchase of a good or service.
7. The method of claim 1, wherein the amount is provided separately
for each of the one or more individuals.
8. The method of claim 1, wherein the amount is based on an even
split.
9. The method of claim 1, wherein the allocating of the
remuneration comprises causing a transfer of the amount for each of
the individuals to an account associated with each of the
individuals.
10. The method of claim 1, wherein the details of the remuneration
further comprises account details for each of the individuals.
11. The method of claim 10, wherein the account details are for an
account at a financial institution.
12. A machine-readable storage medium in communication with at
least one processor, the machine-readable storage medium storing
instructions which, when executed by the at least one processor,
provides a method comprising: receiving details of a remuneration,
the remuneration relating to at least one transaction and the
received details identifying a list of individuals to be
remunerated and an amount of the remuneration to be allocated to
each of the individuals on the list; and allocating, using one or
more processors, the remuneration among the individuals based on
the received details.
13. The machine-readable storage medium of claim 12, wherein the
receiving of the details of the remuneration is received via a
graphical user interface.
14. The machine-readable storage medium of claim 12, wherein the
receiving of the details of the remuneration comprises constructing
a table including the individuals and the amount for each of the
individuals.
15. The machine-readable storage medium of claim 12, wherein the
details of the remuneration are associated with a purchase of a
good or service.
16. The machine-readable storage medium of claim 12, wherein the
amount is provided separately for each of the one or more
individuals.
17. The machine-readable storage medium of claim 12, wherein the
amount is based on an even split.
18. The machine-readable storage medium of claim 12, wherein the
allocation of the remuneration comprises causing a transfer of the
amount for each of the individuals to an account associated with
each of the individuals.
19. The machine-readable storage medium of claim 12, wherein the
details of the remuneration further comprises account details for
each of the individuals.
20. The machine-readable storage medium of claim 19, wherein the
account details are for an account at a financial institution.
Description
RELATED APPLICATION
[0001] The present application is a continuation of U.S. patent
application Ser. No. 12/554,785 filed Sep. 4, 2009 and entitled
"System and Method for Managing Allocation of Funds Between a
Plurality of Entities," which is a continuation of U.S. patent
application Ser. No. 12/025,223 filed on Feb. 4, 2008 and entitled
"Method For Managing Group Finances Via An Electronic Network,"
which is a continuation of U.S. Pat. No. 7,343,335 issued on Mar.
11, 2008 and entitled "Method For Managing Group Finances Via An
Electronic Network," all of which are incorporated herein by
reference.
TECHNICAL FIELD
[0002] The present invention relates generally to electronic
commerce and more particularly to management of funds allocation in
an electronic network.
BACKGROUND OF THE INVENTION
[0003] Recently, with the tremendous growth of the Internet,
numerous Internet based companies have emerged which provide a
service which allows individuals to pay all of their bills online
at a single Web-site. Such companies include
Statusfactory.com.RTM., Paytrust.com.RTM., and Paymybills.com.RTM.,
to name but a few. Individuals can have their bills redirected to
one of the aforementioned companies who capture their bills and
present them to the individual on a Web-site. The individual can
then pay his or her bills directly through the Web-site and/or set
up rules for the automatic payment of any bills received.
Individuals using such sites, therefore, no longer have to review
each bill sent to them from creditors, write checks out to those
creditors, and post the checks to each creditor thus saving time,
and costs such as stamp costs and any late payment charges should
they fail to pay a bill on time. It has been estimated that about
30 million households currently make use of online banking and bill
payment.
[0004] Such services, however, are typically only directed at
individuals. To date, no easy means exists which addresses the
problems that arise when individuals participating in group related
activities spend money on behalf of the group. Group activities,
such as joint ventures, ski trips, bachelor parties, shared
households, office lunch groups, and clubs and organizations often
lead to complicated settlement arrangements. For example, consider
the life of three roommates: one person buys supplies for a
housewarming party, while another pays the gas and phone bill. The
third roommate pays the electric bill and for a pizza on Superbowl
Sunday. The financial inter-obligations become unwieldy with only a
few transactions. This problem arises any time individuals spend
money together, not just in shared household situations where it is
estimated that there are 74 million shared households in the U.S.
(American Housing Survey for the United States: 1997), but also for
office lunch groups, clubs, events, parties, wish lists, investment
groups, wagering pools, organizations, clubs, or the like.
[0005] Person-to-person (P2P) payment providers such as
PayPal.com.RTM. and PayMe.com.RTM. have emerged that offer payments
and payment requests from one consumer to another. A popular
application of this P2P technology involves the payment for goods
purchased at online auction sites. While the P2P providers offer
robust payment options for consumers, including a transaction
history for individuals, none address the need for group
accounting. These are payment solutions only and do not allow for
the tracking of expenses and transactions unless a payment has
occurred.
[0006] Furthermore, companies such as Intuit.RTM. offers a personal
accounting software. Personal accounting software allows
individuals to track their personal expenses and transactions on an
on-going basis. Again, however, there is no group accounting
functionality available and there are no features designed to track
group expenses and group transactions.
[0007] Therefore, a convenient system whereby group members can
view, split, balance a group's finances, pay group expenses, and
deposit money into a group account would be highly desirable.
BRIEF DESCRIPTION OF THE DRAWINGS
[0008] For a better understanding of the nature and objects of the
invention, reference should be made to the following detailed
description, taken in conjunction with the accompanying drawings,
in which:
[0009] FIG. 1 is a diagrammatic view of an electronic network for
managing the finances of a group in accordance with an embodiment
of the present invention;
[0010] FIG. 2 is a flow chart of an application server side method
of managing the finances of group in accordance with an embodiment
of the present invention;
[0011] FIG. 3 is a continuation of the flow chart of FIG. 2;
[0012] FIG. 4 is a continuation of the flow chart of FIG. 3;
[0013] FIG. 5 is a continuation of the flow chart of FIG. 4;
[0014] FIG. 6 is an illustration of a graphical user interface of a
"Home start page" used in accordance with an embodiment of the
invention;
[0015] FIG. 7 is an illustration of a graphical user interface of a
"Member page" used in accordance with an embodiment of the
invention;
[0016] FIG. 8 is an illustration of a graphical user interface of a
"Group summary page" used in accordance with an embodiment of the
invention;
[0017] FIG. 9 is an illustration of a graphical user interface of a
"Specific group's summary page" used in accordance with an
embodiment of the invention;
[0018] FIG. 10 is an illustration of a graphical user interface of
a "Transaction history page" used in accordance with an embodiment
of the invention;
[0019] FIG. 11 is an illustration of a graphical user interface of
an "Add new transaction page" used in accordance with an embodiment
of the invention;
[0020] FIG. 12 is an illustration of a graphical user interface of
a "Complex transaction page" used in accordance with an embodiment
of the invention;
[0021] FIG. 13 is an illustration of a graphical user interface of
a "Group options page" used in accordance with an embodiment of the
invention;
[0022] FIG. 14 is an illustration of a graphical user interface of
a "Join an existing group page" used in accordance with an
embodiment of the invention; and
[0023] FIG. 15 is an illustration of a graphical user interface of
a "Create a new group page" used in accordance with an embodiment
of the invention;
[0024] Like reference numerals refer to corresponding parts
throughout the several views of the drawings.
DETAILED DESCRIPTION OF THE INVENTION
[0025] FIG. 1 is a diagrammatic view of an electronic network 100
for managing the finances of a group in accordance with an
embodiment of the present invention. Network 100 comprises a series
of points or nodes interconnected by communication paths. Network
100 may interconnect with other networks, contains subnetworks and
may be embodied by way of a local area network (LAN), a
metropolitan area network (MAN), a wide area network (WAN), or a
global network (the Internet). The network 100 may further be
characterized by the type of access service used, such as PSTN
(Public Switched Telephone Network), ISDN (Integrated Services
Digital Network), DSL (Digital Subscriber Line), ATM (Asynchronous
Transfer Mode), T-carrier system, etc. In addition, network 100 may
be characterized by the type of protocols used on it, such as
TCP/IP (Transmission Control Protocol/Internet Protocol), NetBEUI
(NetBIOS Extended User Interface), or IPX/SPX (Internetwork Packet
Exchange/Sequenced Packet Exchange). Additionally, network 100 may
be characterized by whether it carries voice, data, or both kinds
of signals; by who can use the network 100 (whether it is public or
private); and by the usual nature of its connections (e.g. dial-up,
dedicated, switched, non-switched, or virtual connections).
[0026] Network 100 connects a plurality of group members 102 to
110, and financial institutions 112 to at least one application
server 164. This connection is made via a communication network 114
which may for example comprise an Intranet, wireless network, or
preferably the Internet. The connection is made via communication
links 162, which may, for example, be-coaxial cable, copper wire
(including PSTN), optical fiber, wireless, microwave, or satellite
links.
[0027] For ease of explanation, the individual or entity that
controls the application server 164 will hereinafter be referred to
as the service provider. It should be understood that the group
members, financial institutions, and/or the service provider may be
individuals, businesses, organizations or the like. Furthermore,
the service provider and the financial institutions may be distinct
entities or a single entity.
[0028] As used herein, a group member is defined as any individual
who forms part of a group set up by group members with the service
provider. Financial institutions, as used herein, incorporates all
financial services organizations, such as banks or the like.
[0029] Application server 164 preferably comprises at least one
data processor or central processing unit (CPU) 158, a memory 116,
user interface devices 156, a communications interface circuit 160,
and at least one bus 154 that interconnects these elements. Memory
116 preferably includes an operating system 118 (such as Windows
NT.TM., Linux.TM., or MacOS.TM.), which stores instructions for
communicating, processing data, accessing data, storing data,
searching data, etc. Memory 116 also includes remote access
procedures 120, email procedures 142, accounting procedures 144,
funds-in procedures 146, funds-out procedures 148, Web server
procedures 150, Web pages 152, and a group database 124. Group
database 124 preferably includes group profiles 126 and 134. Each
group profile 126 or 134 preferably contains a number of member
profiles 130, 132, 138, and 140. Each member profile 130, 132, 138,
or 140 preferably contains member information, such as group member
details, member account details, financial institution details,
etc. Each group profile 126 or 134 preferably also includes a rule
module 128 or 136. The various procedures and the group database
124 will be explained in further detail below.
[0030] Group members 102 to 110 typically access the communication
network 114 via remote client computing devices, such as desktop
computers, handheld computers, personal digital assistants (PDAs),
or the like. The financial institutions 112 include a financial
institution server similar to the application server 164. The
client computing devices and financial institution server
preferably also include a data processor or central processing unit
(CPU), user interface devices, communications interface circuits,
memory, and buses similar to those described in relation to
application server 164.
[0031] Group members 102 to 110 preferably connect to the
communication network 114 using an Internet browser, such as
Microsoft's Internet Explorer.RTM. or Netscape's Navigator.RTM.,
via their computing device's communication interface circuit, which
preferably comprises a modem or network interface card (NIC). The
path of data between the computing devices and the communication
network is preferably: Internet Browser.fwdarw.Winsock (TCP/IP
module of Windows.RTM.).fwdarw.(modem or NIC).fwdarw.ISP Modem or
Hub.fwdarw.Router.fwdarw.Internet. Once connected to the
communication network, the group members navigate to a uniform
resource locator (URL) pointing to the application server's home
Web-site. The application server 164 then delivers Web pages 152
using Web server procedures 150.
[0032] FIG. 2 is flow chart of a method for managing group finances
via an electronic network according to an embodiment of the
invention. The application server (164 of FIG. 1) using the web
server procedures (150 of FIG. 1) and Web pages (152 of FIG. 1)
generates a "home start page" (step 202) an embodiment of which is
shown in FIG. 6. The system then determines whether a group member
would like to log into the system (step 206). In a preferred
embodiment of the invention, if a group member would like to log
into the system, the system receives login details, such as a
username or email address (610 of FIG. 6) and password (612 of FIG.
6), at 212, and then generates and displays a "group summary page"
(step 216) an embodiment of which is shown in FIG. 8. All
communication after login is secure, preferably use SSL (Secure
Sockets Layer) technology. If a group member does not want to login
(step 206) the system then determines if the person accessing the
system is a new member (step 204). If the person accessing the
system is not a new member, the system then determines if the
person accessing the system would like to add to, or join, an
existing group (502 of FIG. 5). If the person accessing the system
is a new member, the system generates a "new member page" (step
208), an embodiment of which is shown in FIG. 7, and receives the
new member's details (step 210). The system then determines (step
214) whether the person accessing the system would like to store
their details or not. If the new member would not like to store
his/her details, i.e. cancels the new member application, the
system either generates the start page (step 202) or if the member
has modified his/her details (as explained in relation to FIG. 3),
the system generates a (unmodified) group summary page (step 216).
If the new member would like to store his/her details, the system
stores the new member's registration details, (step 218), and then
generates the group summary page (step 216). In this way a group
fund is preferably established for plurality of group members.
[0033] The system then determines (step 220) whether the group
member would like to view the details for any of the groups that
he/she belongs to. If the group member would like to view a group's
details, the system generates and displays a summary page for a
selected group (step 222), an embodiment of which is shown in FIG.
9. The system then determines (step 224) whether the group member
would like to invite another individual to join a group. If the
group member would like to invite a new member to join a group, the
new member is invited (step 226) preferably by email. This could
be, for example, where a new person moves into a shared expenses
apartment. After the new member has been invited to join a group
the selected group's summary page is again generated and displayed
(step 222). If the group member would not like to invite a new
member to join a group, the system then determines if the group
member would like to email another individual (306 of FIG. 3). If
the group member would not like to view a group's details (step
220) the system then determines whether the group member would like
to be removed from a specific group (302 of FIG. 3).
[0034] FIG. 3 is a continuation of the flow chart of FIG. 2. If the
group member would not like to invite a new member to join a group,
the system determines if the group member would like to email
another individual (step 306). This may be the case, for example,
where the member would simply like to send an email to another
member or members, or the group member would like to re-invite an
individual to join a group. If the group member would like to send
an email, an email is generated and sent (step 308) and the
selected group summary page is re-displayed (222 of FIG. 2). If the
member does not want to send an email, the system determines
whether the member would like to view a group's transaction details
(step 312). If the system determines that the member would like to
view a group's transaction details, a "transaction history page" is
generated and displayed to the member (step 310), an embodiment of
which is shown in FIG. 10. The system then determines whether the
member would like to modify or delete any transactions, at 316. If
the member would not like to modify or delete any transactions, the
selected group summary page is re-displayed (222 of FIG. 2). If the
member would like to modify or delete any transactions, the
modifications or deletions are made (step 318) after which the
group summary page is re-displayed (222 of FIG. 2).
[0035] If the system determines that the member would not like to
view a selected group's transaction details (step 312) the system
then determines whether the group member would like to add a new
transaction (step 320). The new transaction may be a new group
expense or a payment from a group member to a group. If the system
determines that a group member would like to add a new transaction
(step 320), a "add new transaction page" is generated and displayed
to the group member (step 326), an embodiment of which is shown in
FIG. 11.
[0036] Once the group member has added a new transaction, the new
transaction details are received (step 328) and added to that
specific group's profile (128 and 134 of FIG. 1). The transaction
details preferably include a shared expense of the group,
containing an expense amount and at least one group member
responsible for the expense. Alternatively, the transaction details
may include remuneration details from a group member, such as the
member's account details at a financial institution and the amount
he or she should be remunerated. The system then determines if the
transaction involves a simple or a complex allocation (404 of FIG.
4). If the system determines that a group member would not like to
add a new transaction (step 320), the system determines whether the
user would like to remove a member from the group (step 302).
[0037] FIG. 4 is a continuation of the flow chart of FIG. 3. If the
system determines that the transaction involves a complex
allocation (step 404), such as splitting or dividing financial
obligations like an expense among some or all of a group's members,
a "complex allocation page" is generated and displayed (step 402).
Once the member has submitted the complex allocation details, these
details are received (step 406). In either the complex or simple
allocation cases, the transaction is processed (step 408) using the
rule modules (128 and 136 of FIG. 1) for each group, together with
the accounting procedures (144 of FIG. 1). This processing of the
transaction generally includes allocating each transaction to a
group and assigning payments included in the transaction among
group members. This may preferably include debiting a group fund
with an expense specified in the transaction details and allotting
the expense among the group members in a manner specified in the
transaction details. Alternatively, this may include crediting the
group fund with remuneration specified in the transaction details
and allotting the remuneration among the group members in a manner
specified in the transaction details. This allocation and
assignment is described in further detail below in relation to FIG.
11.
[0038] The system then determines whether the transaction involves
a payment to or from a group fund (step 412). A group fund is a
fund set up by the group members for a special purpose. Such a fund
might be a "car pool fund", "a gift fund", "a phone bill fund" or
any of a variety of account used to collect commitments and
unallocated expenses. For example, a fund might be set up to
purchase a gift where everyone is asked to put in $50 beforehand.
In this case, a commitment of $50 is collected in the group fund
from each member. If the transaction involves a payment to or from
a group fund, then an allocation to a specific group fund and an
assignment between individual group members of that group fund is
made (step 410). All financial balancing calculations are
preferably undertaken using standard accounting mathematics.
[0039] During any of its accounting calculations, the system
preferably round off all original expense values to a new expense
value having a predefined number of decimal places, and distributes
a difference between the new expense value and the original expense
value to a rounding account of a third party, preferably the
service provider. For example, say an expense of $10 must be split
between three group members, John, Nancy and Susan. Each group
member would, therefore, owe $10/3=$3.333 . . . . The system may
round the amount owed to a set number of decimal places. If John
paid $10 for an expense to be split among John, Nancy, and Susan,
the expense is rounded up to $3.34 for each person. If, however,
John owes $10 for an expense to be split among John, Nancy, and
Susan, then the expense is rounded down to $3.33, which is paid to
each group member. In both cases, the remainder of $0.1 is credited
to a rounding account for the benefit of a group or a third party,
such as the service provider. After the system determines whether
the transaction involves a payment to or from a group fund (step
412), the system determines whether during any of its accounting
calculations, a remainder was generated (step 416) and if so
assigns the remainder to the rounding account (step 416).
[0040] The system then determines (step 420) whether any members
have been deleted or have left a group. When members are deleted
from the group, their balance is assigned to a "Deleted Members"
account for non-members (step 418). The group may allocate those
funds whenever they wish. This allocation may be a proportional
split between group members or may vary depending on the rules
module (128 or 136 of FIG. 1) set up for that group.
[0041] The system then preferably determines whether according to
the rules module, a group member should be charged interest for
paying late or should be paid interest for paying early. Such a
charge or payment of interest is established either by the group
members or by the service provider. For example, an investment
group may require an appropriate economic return to members that
pay for stocks on behalf of other members. An alternative
embodiment utilizes an interest spread where a group member is
charged a higher interest for a late payment than that payed out to
an group member who makes an early payment. A third party, such as
the service provider, retains the difference between the interest
received and the interest payed out (the interest difference). For
example, a group member who makes an early payment may be paid say
19% interest on the funds payed until such time as the expense is
due. A group member who pays after the expense is due may be
charged 21% interest until such time that he/she pays the group.
The difference between the 21% and the 19%, i.e. 2%, is kept by the
service provider. Therefore, the system determines (step 424)
whether any interest is due, and assigns the interest to the
necessary accounts (step 422). In the case where an interest spread
is used, the interest difference may be assigned to a separate
interest account or to the rounding account. The system then
generates and displays the summary page (step 222 of FIG. 2).
[0042] Returning to FIG. 3, if the system determines that the group
member would like to be removed from a specific group (step 302),
that person is removed from the group (step 304). The rules module
for that group may be set up so that only under certain conditions
may a member be removed, such as when a member is delinquent in
paying his/her share towards a group expense. If the system
determines that the group member would not like to be removed from
a specific group (step 302), the system then determines whether the
member would like to change his member details or options (step
314). If the member would like to change his/her options, a "member
page" is generated (step 208 of FIG. 2) and the modified details
received (step 210 of FIG. 2).
[0043] If the member does not want to change his/her options (step
314), the system then determines if any member would like to settle
up his/her obligations (pay what is owed) to the group account
(step 322). If a member would like to settle up, a "settle up page"
is generated (step 324) wherein a member can enter information to
settle up his/her obligations, such as financial institution
information, account numbers, amounts, etc. This payment
information is received (step 330), the account is balanced (step
332), and depending on the page the member was previously viewing,
the member is displayed either the group summary page (216 of FIG.
1) or the selected group summary page (222 of FIG. 1).
[0044] If a member does not want to settle up, the system
determines whether a member would like to ask the other members of
a group to settle up (step 334). If the system determines that a
member would like to ask the other members of a group to settle up,
the system contacts the other members, preferably via email, to
settle up the group account (step 336). Depending on the page the
member was previously viewing, the member is displayed either the
group summary page (216 of FIG. 1) or the selected group summary
page (222 of FIG. 1). If the system determines that a member does
not want to ask the other members of a group to settle up, the
system determines whether the member would like join another
existing group (step 504 of FIG. 5).
[0045] FIG. 5 is a continuation of the flow chart of FIG. 4. If the
system determines that the member wants to join another existing
group, the system generates a "join a new group page" (step 506),
an embodiment of which is shown in FIG. 15. Details, such as the
members email address, are entered into the join a new group page
and received (step 508). If all the other members of the group that
the member would like to join accept the member to their group
(step 510) the member is added to the group and the group summary
page is displayed (step 216 of FIG. 2).
[0046] If the system determines that the member does not want to
join another existing group (step 504), the system then determines
whether the member would like to start a new group (step 514). If
the member would like to start a new group, a "new group page" is
generated (step 512) and new group details are received (step 516)
and saved in a new group profile. The system then determines
whether the member would like to exit the system (step 518). If the
member would like to exit the system, the member is exited from the
secure part of the system and the start page is displayed (step 202
of FIG. 2). If the member does not want to exit the system, either
the group summary page (216 of FIG. 1) or the selected group
summary page (222 of FIG. 1) is displayed depending on the page the
member was previously viewing.
[0047] FIG. 6 is an illustration of a graphical user interface of a
"Home start page" 600 used in accordance with an embodiment of the
invention. To gain access to the system, a member typically enters
security details, such as an email 610 address and password 612. If
the user is new, he/she may register with the system by clicking on
the new user button 618, which will displays a "modify personal
info page", similar to that shown in FIG. 7. A member may also
start a new group by either clicking on the "Start new group"
button 602, or by clicking on any one of a number of standard
groups 614 set up for different group activities, such as for joint
camping trips. Clicking on either the start new group button 602 or
standard groups 614 will display a "Create new group page", as
shown in FIG. 15. If the member would like to add an expense to the
group account, he/she may do so my clicking on either the "Add
expense" button 604 or any one of numerous set expenses 616, such
as joint grocery expenses. Clicking on either the add expense
button 604 or one of numerous set expenses 616, will display an
"Add transaction page", as shown in FIG. 11. A member may also
deposit funds, or withdraw funds by clicking on a pay/withdraw
button 606. Such withdrawal or deposit may occur electronically,
such as via a credit card or electronic check.
[0048] FIG. 7 is an illustration of a graphical user interface of a
"Member page" 700 used in accordance with an embodiment of the
invention. This page is displayed when signing up a new member or
when a member modifies his/her details. Details, such as member
name 702, email address, and password 704, are entered into the
various fields on the page. By clicking on the "Finish" button 708,
the member's details are saved into a member profile for that user
(130, 132, 138, or 140 of FIG. 1), after which a "group summary
page" is displayed, as shown in FIG. 8. Clicking on the cancel
button 710 returns the member to the page he/she was previously
viewing, without saving the member's details.
[0049] FIG. 8 is an illustration of a graphical user interface of a
"Group summary page" 800 used in accordance with an embodiment of
the invention. Each group 802 that the user belongs to is displayed
separately. Various options are provided for each group. Clicking
on the "details" button 804 displays further details about the
group account displayed in a "Specific group's summary page", as
shown in FIG. 9. Clicking on the "remove me" button 808 removes the
member from that group. Clicking on the "Settle up" button 806
allows the member to settle up his/her obligations with that group
by preferably electronically transferring funds into the group
account from the members bank account at a financial institution.
Clicking on the "Asks folks to settle up" button 810 balances the
group account and contacts the other members of that group,
preferably via email, asking them to settle up their financial
obligations with the group. A member may add another group or join
an existing group by clicking on the "Add/Join a group" button 812.
A member may furthermore adjust group options by clicking on the
"Personal Options" button 814, after which an "options page` is
displayed as per FIG. 13.
[0050] FIG. 9 is an illustration of a graphical user interface of a
"Specific group's summary page" 900 used in accordance with an
embodiment of the invention. This page displays summary details for
a specific member in a specific group. Summary details preferably
include the member's financial obligations to the group 902 as well
as other members' financial obligations to the group 912. Clicking
on the "Settle the slush fund" button 904 or the "Request
settlement" button 1018 balances the group fund and contacts the
other members of that group, preferably via email, asking them to
settle up their financial obligations with the group. Clicking on
the "Claim cash" button 906 allows the member to withdraw any funds
owing to him/her from the group. Withdrawal of funds preferably
occurs electronically by transferring funds from the group account
to the member's account at a financial institution, but may occur
via a credit card or an electronic or traditional check. Clicking
on the "Remove/Allocate this" button 908 allows a member to remove
himself from a group, thereby allocating any of his financial
obligations between the remaining group members. If a potential
member has been invited to join the group but has not yet joined,
the member may click on the "Invite again" button 914 to contact
the potential member to join the group. Likewise, entering an email
address into the form provided and clicking on the "Add members"
button 916 sends an email to the supplied email address inviting a
potential member to join the group. Any member may also post a
message to a message-board on the specific group's summary page by
clicking on the "Post new message button" 918. A member may add a
new transaction by clicking on the "Add new transaction" button
1016 which displays an "Add new transaction page", as shown in FIG.
11. A member may adjust his or her personal options by clicking on
the "Personal Options" button 1022. A member can view the groups
transaction history by clicking on the "view history" button 1024
which displays a "transaction history page", as shown in FIG. 10. A
member may add another group or join an existing group by clicking
on the "Add/Join a group" button 1026. A member may adjust a
group's options by clicking on the "Group administration" button
1028, after which an "options page` is displayed as per FIG. 13.
Finally, the member may return to the group summary page by
clicking on the "Group summary" button 1020.
[0051] FIG. 10 is an illustration of a graphical user interface of
a "Transaction history page" 1000 used in accordance with an
embodiment of the invention. This page displays a specific group's
transaction history 1032. A member can precisely adjust what part
of the transaction history is displayed by entering a date range
into forms 1002 and 1004, adjusting the pull down menu to display
either an individual member of a group or the entire group 1034,
adjusting the pull down menu 1006 to show who entered the
transaction into the system, and/or adjusting the pull down menu
1008 to display which categories should be displayed.
[0052] Each group has a group type associated with it. So, one may
have a "roommate" type group, a "party" type of group, or an
"office pool" type of group. Each group has a given set of
categories associated with it. Additionally, each group can add
group specific categories. Categories preferably include "All
categories", expenses, withdrawals, deposits, and any default or
custom categories associated with the specific group. After
adjusting the dates and pull down menus, the member clicks on the
"search" button 1010 to initiate the search for the
adjusted-transaction history details which are then displayed.
Individual transactions may be deleted or modified by clicking on
the "delete" 1012 or "modify" 1014 buttons respectively. The member
may return to the "specific group's summary page" by clicking on
the "Group detail" button 1030.
[0053] FIG. 11 is an illustration of a graphical user interface of
an "Add new transaction page" 1100 used in accordance with an
embodiment of the invention. This page is used by a member to add a
new transaction to a group account. A transaction date is set to a
default of the date the transaction page is displayed. The member
may, however, change this date by modifying the date displayed in
the transaction date field 1102. The member then selects a member
or members of the group who began or initiated the transaction,
such as an individual member, each member, or some or all the
members. The member then adjusts a pull down menu 1104 showing what
the selected member/s did, such as paid an amount on behalf of the
group or deposited an amount into the group. The member enters the
amount of the transaction in an amount field 1108. The member then
assigns the transaction to individual members, each member, or some
or all of the members. Assignment of the transaction is an
assignment of the obligation for that transaction. A description of
the transaction is entered by adjusting the pull down menu 1110 and
1114. To save the transaction and continue, the member clicks on
the "Continue" button 1116. To cancel the transaction without
saving the member clicks on the "Cancel" button 1118. If the
transaction is complex, i.e. involves a more complex allocation or
assignment of the transaction, such as splitting the transaction
between group members, a "Complex transaction page" is displayed,
as per FIG. 12.
[0054] FIG. 12 is an illustration of a graphical user interface of
a "Complex transaction page" 1200 used in accordance with an
embodiment of the invention. The complex transaction page allows a
member to divide expenses up between members of a group. Each part
of the split expense amount is entered separately for each member
1202. If a particular member is not responsible for any part of the
expense, they may be excluded by checking an "exclude" box 1204.
Alternatively, if the amount is to be split evenly between members,
the member entering the transaction may click the "Split Evenly"
button 1210 which will split the expense evenly between all the
members (except those excluded). Clicking on the "Clear" button
1206 clears all split amounts, while clicking on the "Done" button
1208 saves the split amounts, and clicking on the "Cancel" button
1212 exits from this screen without saving.
[0055] FIG. 13 is an illustration of a graphical user interface of
a "Group Options page" 1300 used in accordance with an embodiment
of the invention. This page allows members to change the options of
a particular group. By selecting the group as either public or
private 1302 the members can allow or forbid other individuals to
apply to join a group. In the case of a private group, only the
members can invite another individual to join a group, where the
individual is not made aware of the group prior to such an
invitation. The members can also select whether they would like the
system to automatically remind members 1304, preferably via email,
to settle up after each transaction. Alternatively, the system may
be set only to remind members to settle up when someone owes, or is
owed, more that a predetermined amount set by the members, such as
$500. The members may also select that the system reminds them to
settle up after a certain time period, such as biweekly, or not to
send automatic reminders at all 1306. Individual privileges for
each member may also be set up 1312, such as by giving members of
the group administrative rights or allowing them to withdraw cash
from the account. An administrative right is preferably the right
to modify the group's options, the right to add or delete members
from a group, and/or the right to allow other members the right to
withdraw cash from the group. Clicking on the "Submit changes"
button 1314 saves changes made to the group options, while clicking
on the "Cancel" button 1316 exits the member from the screen
without saving.
[0056] FIG. 14 is an illustration of a graphical user interface of
a "Join an Existing Group page" 1400 used in accordance with an
embodiment of the invention. By entering their email address 1402
and clicking on the "Join an existing group" button 1404, an email
is generated and sent to an existing member of a group to ask if
the potential member who entered the email address, may join their
group.
[0057] FIG. 15 is an illustration of a graphical user interface of
a "Create a new group page" 1500 used in accordance with an
embodiment of the invention. A new group may be created by entering
a new group name 1502, selecting a type of group 1504 from a drop
down menu, such as a roommate group, entering the email addresses
of those people who the member would like to join the group, and
altering the invitation message 1508, if necessary. Clicking on the
"Go to group options page" 1510, saves these details in a new group
profile (126 and 134 of FIG. 1) and displays the group option page,
displayed in FIG. 13, to the founding member so that he or she
might adjust the group's options. Clicking on the "Done" button
saves the group with default options.
[0058] While the foregoing description and drawings represent the
preferred embodiment of the present invention, it will be
understood that various additions, modifications and substitutions
may be made therein without departing from the spirit and scope of
the present invention as defined in the accompanying claims. For
example, members may pay funds into an account or withdraw funds
from an account using a P2P system. In particular, it will be clear
to those skilled in the art that the present invention may be
embodied in other specific forms, structures, arrangements,
proportions, and with other elements, materials, and components,
without departing from the spirit or essential characteristics
thereof. The presently disclosed embodiments are therefore to be
considered in all respects as illustrative and not restrictive, the
scope of the invention being indicated by the appended claims, and
not limited to the foregoing description. Furthermore, it should be
noted that the order in which the process is performed may vary
without substantially altering the outcome of the process.
* * * * *