System and method for managing accounts payable and accounts receivable
First Claim
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1. A method for managing accounts payable, comprising:
- receiving at a third party an invoice from a vendor, the invoice including an invoiced dollar amount;
routing the invoice from the third party to a customer for approval and, in response to the approval, allocating at least a portion of the invoiced dollar amount to a virtual account associated with the vendor maintained by the third party;
receiving at the third party a request from the vendor to have a dispersal dollar amount transferred from the virtual account to a real account associated with the vendor; and
initiating from the third party an electronic transfer of the dispersal dollar amount from a real account maintained by the third party to the real account associated with the vendor.
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Abstract
A system and method for managing accounts payable that allocates at least a portion of an invoiced dollar amount to a virtual account associated with a vendor, allows the vendor to request that a dispersal dollar amount be transferred from the virtual account to a real account associated with the vendor, and initiates an electronic transfer of the dispersal dollar amount from a real account to the real account associated with the vendor.
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Citations
44 Claims
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1. A method for managing accounts payable, comprising:
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receiving at a third party an invoice from a vendor, the invoice including an invoiced dollar amount;
routing the invoice from the third party to a customer for approval and, in response to the approval, allocating at least a portion of the invoiced dollar amount to a virtual account associated with the vendor maintained by the third party;
receiving at the third party a request from the vendor to have a dispersal dollar amount transferred from the virtual account to a real account associated with the vendor; and
initiating from the third party an electronic transfer of the dispersal dollar amount from a real account maintained by the third party to the real account associated with the vendor. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. For use in a third party system, a readable media having computer executable instructions for managing accounts payable, the instructions performing steps comprising:
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allocating at least a portion of an invoiced dollar amount to a virtual account associated with a vendor and maintained by the third party;
receiving a request from the vendor to have a dispersal dollar amount transferred from the virtual account to a real account associated with the vendor; and
initiating an electronic transfer of the dispersal dollar amount from a real account maintained by the third party to the real account associated with the vendor. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
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31. A system for managing accounts payable, comprising:
a third party computer system in communication a vendor computer system via a communication network, the third party computer system including programming for allocating at least a portion of an invoiced dollar amount to a virtual account associated with a vendor and maintained by the third party upon receiving an approval from a customer to pay an invoice including the invoiced dollar amount;
receiving a request from the vendor to have a dispersal dollar amount transferred from the virtual account to a real account associated with the vendor; and
initiating an electronic transfer of the dispersal dollar amount from a real account maintained by the third party to the real account associated with the vendor.- View Dependent Claims (32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44)
Specification