Transaction accounting auditing approach and system therefor
First Claim
1. In a transaction payment system adapted to audit a transaction as a function of contract terms agreed to by a buyer of merchant offerings and a seller of the merchant offerings, a method comprising:
- auditing transaction data for the transaction, as recorded on behalf of one of the buyer and the seller, against line-item-accounting-classification rules provided by said one of the buyer and the seller.
3 Assignments
0 Petitions
Accused Products
Abstract
Accounting data is classified to facilitate transaction processing and management. According to an example embodiment, data based rules are implemented for classifying transaction-related data into accounting categories. Accounting information is processed as a function of the data based rules and accordingly automatically classified. This processing involves, for example, the identification of particular data based rules to apply to the accounting information, applying the rules and processing the information accordingly.
-
Citations
20 Claims
-
1. In a transaction payment system adapted to audit a transaction as a function of contract terms agreed to by a buyer of merchant offerings and a seller of the merchant offerings, a method comprising:
auditing transaction data for the transaction, as recorded on behalf of one of the buyer and the seller, against line-item-accounting-classification rules provided by said one of the buyer and the seller. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
-
16. In a transaction processing system for automatically auditing and facilitating payment for a multitude of transactions involving different transaction parties, a method for classifying line-item entries in transaction-based documents characterizing merchant offerings between transaction parties subject to a contract, the method comprising:
-
associating a transaction-based document with a transaction party as a function of a user profile for the transaction party and information in the transaction-based document;
authorizing payment for line-item entries in the transaction-based document as a function of business rules for the associated transaction party, the line-item entries and the contract; and
for each line-item entry in the transaction-based document, in response to payment being authorized for the line-item entry, assigning an accounting classification code to the line item accounting data as a function of the line item accounting data and business rules for the associated transaction party, and storing data including a payment amount representing the line-item entry in association with the assigned accounting classification code. - View Dependent Claims (17, 18, 19, 20)
-
Specification