Accounts payable process

• US 20070219880A1
• Filed: 02/26/2007
• Published: 09/20/2007
• Est. Priority Date: 05/13/2002
• Status: Active Grant

• Current Assignee: The PNC Financial Services Group, Inc.
• Original Assignee: The PNC Financial Services Group, Inc.
• Inventors: Domaracki, Greg, Stone, James
• Granted Patent: US 7,865,411 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Techniques for performing an accounts payable process may include receiving transaction data including at least one of invoice data, purchase order data, and vendor data; and verifying a transaction by matching a dynamic data set of client-specified multi-dimensional criteria to the transaction data. An accounts payable system may include a host system in communication with one or more client systems. The host system may include a matching database configured to receive an accounts payable file including at least one of invoice data, purchase order data, and vendor data; and verify a transaction by matching a dynamic data set of client-specified multi-dimensional records to attributes of the accounts payable file.

Claims

1. An accounts payable process comprising:

receiving transaction data including at least one of invoice data, purchase order data, and vendor data; and

verifying a transaction by matching a dynamic data set of client-specified multi-dimensional criteria to the transaction data.

2. The accounts payable process of claim 1, wherein the dynamic data set comprises client-specified purchase order information.

3. The accounts payable process of claim 1, wherein the dynamic data set comprises client-specified vendor profile information.

4. The accounts payable process of claim 1, wherein the dynamic data set comprises client-specified invoice information.

5. The accounts payable process of claim 1, wherein the purchase order data comprises one or more of:

a PO Number, Vendor Number, Vendor Name, Vendor Remit Address, PO Total Amount, PO Line Item Amount, Discount Percent, Discount Days, Invoice Number, Invoice Date, and Invoice Total Amount.

6. The accounts payable process of claim 1, wherein the vendor data comprises one or more of:

Customer Number, Vendor Name, Vendor Remit Address, Vendor Number, Contact Name, E-mail Address, Payment Terms, and Vendor Status.

7. The accounts payable process of claim 1, wherein the invoice data comprises one or more of:

PO Number, PO Line Item Quantity, PO Line Item Amount, Vendor Number, Vendor Address, Invoice Number, Invoice Date, Invoice Total Amount, Discount Percent, and Discount Days.

8. The accounts payable process of claim 1, wherein matching further comprises identifying a set of probable matches based on client-specified criteria.

9. The accounts payable process of claim 8, wherein the client-specified criteria includes a plurality of weighted factors.

10. The accounts payable process of claim 8, wherein the client-specified data includes a tolerance range from an exact match.

11. The accounts payable process of claim 8, further comprising simultaneously presenting the set of probable matches and the transaction data on a graphical user interface.

12. The accounts payable process of claim 11, wherein the graphical user interface comprises a split screen.

13. The accounts payable process of claim 1, further comprising automatically correcting discrepancies between the transaction data and client-specified information included in the dynamic data set.

14. The accounts payable process of claim 1, further comprising augmenting the transaction data with client-specified information included in the dynamic data set.

15. The accounts payable process of claim 1, further comprising initiating payment processing for a verified transaction.

16. The accounts payable process of claim 1, wherein matching comprises a vendor matching process.

17. The accounts payable process of claim 16, wherein the vendor matching process comprises comparing transaction data associated with a vendor to a client-specified vendor profile.

18. The accounts payable process of claim 17, wherein the vendor profile comprises a master vendor profile containing information regarding a plurality of vendors.

19. The accounts payable process of claim 16, wherein the vendor matching process comprises performing a preliminary vendor match.

20. The accounts payable process of claim 19, wherein the vendor matching process comprises identifying a set of probable vendor matches in the event that the preliminary match is unsuccessful.

21. The accounts payable process of claim 1, wherein matching comprises a purchase order matching process.

22. The accounts payable process of claim 21, wherein the purchase order matching process comprises comparing transaction data associated with a purchase order to a client-specified purchase order file.

23. The accounts payable process of claim 21, wherein the purchase order file comprises a digital image of a purchase order.

24. The accounts payable process of claim 21, wherein the purchase order matching process comprises performing a preliminary purchase order match.

25. The accounts payable process of claim 24, wherein the purchase order matching process comprises identifying a set of probable purchase order matches in the event that the preliminary match is unsuccessful.

26. The accounts payable process of claim 1, wherein matching comprises an invoice matching process.

27. The accounts payable process of claim 26, wherein the invoice matching process comprises comparing transaction data associated with an invoice to a client-specified invoice file.

28. The accounts payable process of claim 27, wherein the invoice file comprises a master invoice file containing information regarding a plurality of invoices.

29. The accounts payable process of claim 26, wherein the invoice matching process comprises performing a preliminary invoice match.

30. The accounts payable process of claim 29, wherein the invoice matching process comprises identifying a set of probable invoice matches in the event that the preliminary match is unsuccessful.

31. The accounts payable process of claim 1, further comprising receiving an invoice in one of paper form and electronic form.

32. The accounts payable process of claim 31, further comprising generating a digital image of an invoice received in paper form.

33. The accounts payable process of claim 31, further comprising automatically extracting invoice data from the received invoice.

34-50. -50. (canceled)