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System and method for managing accounts payable and accounts receivable

  • US 20080120210A1
  • Filed: 10/31/2007
  • Published: 05/22/2008
  • Est. Priority Date: 04/28/2003
  • Status: Abandoned Application
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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