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Transaction accounting payment and classification system and approach

  • US 20050289023A1
  • Filed: 05/03/2005
  • Published: 12/29/2005
  • Est. Priority Date: 06/09/2004
  • Status: Active Grant
First Claim
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1. A transaction processing system for processing payment and classifying accounting data for a plurality of transaction parties, the system comprising:

  • an association processor arrangement configured and arranged to access user profiles including information about each transaction party for controlling each transaction party'"'"'s access to the transaction processing system and for associating transaction data with a particular transaction party, and associate received transaction data with transaction party identification data as a function of the user profiles and information in the received transaction data;

    an auditing processor configured and arranged, for transaction data associated with a transaction for which payment is to be made, to retrieve auditing rules for the associated transaction party, the auditing rules including information for authorizing payment for transaction parties, audit the transaction data using the auditing rules, and authorize payment for the transaction as a function of the audit; and

    a classification engine configured and arranged, for received transaction data, to assign an accounting code to accounting data in the received transaction data as a function of the associated transaction party identification data, thereby classifying the accounting data.

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