Automated transaction accounting processing engine and approach

• US 20050289024A1
• Filed: 05/03/2005
• Published: 12/29/2005
• Est. Priority Date: 06/09/2004
• Status: Active Grant

• Current Assignee: Syncada LLC (US Bancorp)
• Original Assignee: Syncada LLC (US Bancorp)
• Inventors: Hahn-Carlson, Dean W., Suits, David A., Beck, Elizabeth A.
• Granted Patent: US 8,126,785 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/12 Accounting

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 classified. This approach involves, for example, the identification of particular data based rules to apply to the accounting information, applying the rules and processing the information accordingly.

Claims

1. A classification engine for processing transaction documents having line item accounting data, the classification engine comprising:

an association processor arrangement configured and arranged, for each of a plurality of transaction parties, to

access user profiles including information about each transaction party for controlling each transaction party'"'"'s access to the classification engine and for associating transaction documents with a particular transaction party, and

associate transaction documents with a transaction party as a function of the user profiles and information in the transaction document; and

a classification processor configured and arranged, for each transaction document associated with a particular one of the transaction parties by the association processor arrangement, to

retrieve classification rules for the particular transaction party as a function of the association of the transaction document with the particular transaction party, the classification rules including information for classifying accounting data for the particular transaction party,

identify, in response to and as a function of the associated transaction document, line item accounting data, and

assign an accounting code to the identified accounting data for each line item as a function of the classification rules.

2. The classification engine of claim 1, further comprising:

a data storage arrangement adapted for storing the user profiles and classification rules from each of a plurality of transaction parties, wherein the association processor and the classification processor are respectively configured and arranged to access the database to retrieve user profiles and classification rules for transaction parties to respectively associate a transaction document with a transaction party and classify information in the transaction document.

3. The classification engine of claim 2, wherein the data storage arrangement includes at least two databases.

4. The classification engine of claim 3, wherein the at least two databases are physically separate.

5. The classification engine of claim 2, wherein the classification engine is adapted to facilitate the storage of user profiles and classification rules in the data storage arrangement.

6. The classification engine of claim 5, wherein the classification engine is adapted to facilitate user access to the data storage arrangement as a function of security criteria.

7. The classification engine of claim 6, wherein the classification engine is adapted to facilitate user access for storing classification rules in the data storage arrangement by, for a user submitting classification rules,

authorizing the user as a function of the user profiles and security information provided via the user, and

in response to the user being authorized, storing the submitted classification rules with the data storage arrangement.

8. The classification engine of claim 7, wherein the classification engine is further adapted to reassign, in response to the submitted classification rules redefining a previously-implemented classification rule and as a function of the redefined classification rule, an accounting code to identified accounting data for a line item having previously been assigned an accounting code.

9. The classification engine of claim 2, wherein the classification processor is configured and arranged to store information characterizing the line item accounting data in association with the assigned accounting code in the data storage arrangement.

10. The classification engine of claim 9, wherein the classification processor is configured and arranged to store information characterizing the line item accounting data by storing, in association with the assigned accounting code, information identifying a merchant offering to which the line item accounting data applies and information indicating a cost of the merchant offering.

11. The classification engine of claim 10, wherein the classification engine is adapted to facilitate user access for modifying line item accounting data that has been stored in association with the assigned accounting code by,

authorizing a user as a function of the user profiles and security information provided via the user, and

in response to the user being authorized, reassigning an accounting code to the line item accounting data as directed by the authorized user and storing information characterizing the line item accounting data in association with the reassigned accounting code in the data storage arrangement.

12. The classification engine of claim 11, wherein the classification engine is adapted to track the reassignment of accounting codes to line item accounting data by storing data identifying the line item, the assigned accounting code, the reassigned accounting code and an identification of the user reassigning the accounting code.

13. The classification engine of claim 1, wherein the association processor arrangement and the classification processor arrangement are a single processor.

14. The classification engine of claim 1, wherein the classification processor is configured and arranged to assign an accounting code to the identified accounting data for each line item as a function of the classification rules by creating an accounting code as a function of the expense classification rules and data in the transaction document and assigning the created accounting code to the identified accounting data for each line item.

15. The classification engine of claim 1, further comprising a payment processor configured and arranged to authorize payment for line item accounting data in the transaction document as a function of business rules for the identified transaction party associated with the transaction document bearing the line item accounting data, wherein the classification processor is configured and arranged to assign an accounting code to the identified accounting data for each line item as a function of the classification rules in response to the payment processor authorizing payment for the line item accounting data to which the accounting code is assigned.

16. The classification engine of claim 1, further comprising a transaction auditing processor configured and arranged to audit line item accounting data as a function of business rules for the identified transaction party associated with the transaction document bearing the line item accounting data, wherein the classification processor is configured and arranged to assign an accounting code to the identified accounting data for each line item as a function of the classification rules in response to the transaction auditing processor'"'"'s audit of the line item accounting data to which the accounting code is assigned.

17. The classification engine of claim 1, further comprising a payment processor configured and arranged to authorize payment for line item accounting data in the transaction document as a function of business rules for the identified transaction party associated with the transaction document bearing the line item accounting data and as a function of the classification processor assigning an accounting code to the identified accounting data for each line item.

18. The classification engine of claim 1, wherein at least one of the classification rules is defined as a function of time and type of accounting data, and wherein the classification processor is adapted to assign an accounting code to the identified accounting data for each line item as a function of a time-related characteristic of the transaction document and the classification rules.

19. The transaction-processing system of claim 18, wherein the classification processor is adapted to retrieve classification rules for the particular transaction party as a function of a time-related characteristic of the transaction document and effective dates of accounting codes as specified in the classification rules.

20. The classification engine of claim 1, wherein the classification processor is adapted to access relationship data that identifies related accounting fields, and to respond to a transaction document bearing accounting information for a particular accounting field by updating an accounting field to which the particular accounting field is related.

21. In a transaction-processing environment for facilitating transactions involving merchant offerings among parties including buyers and sellers, aspects of each transaction bearing on a previously-provided agreement by the parties and being characterized by at least one transaction-based document, a general ledger assignment engine for classifying accounting data for implementation with a user'"'"'s general ledger chart of accounts, the general ledger assignment engine configured and arranged to, for a transaction party:

facilitate the loading and storing of assignment rules for classifying accounting data into accounting categories in the transaction party'"'"'s general ledger chart of accounts;

assign accounting codes to transaction data bearing on the previously-provided agreement as a function of the loaded and stored assignment rules; and

store the transaction data under accounting categories in the transaction party'"'"'s general ledger chart of accounts as a function of the assigned accounting codes.

22. The system of claim 21, wherein the general ledger assignment engine is further configured and arranged to specify effective and expiration dates for each accounting code as a function of the assignment rules.

23. The system of claim 21, wherein the general ledger assignment engine is adapted to store the transaction data under accounting categories in the transaction party'"'"'s general ledger chart of accounts as a function of the assigned accounting codes by

configuring the transaction data with accounting code assigned thereto into a format specified by the transaction party and amenable for implementation with the transaction party'"'"'s general ledger chart of accounts, and

sending the configured transaction data to an automated general ledger chart of accounts processing system specified by the transaction party.