Financial data processing system

• US 4,948,174 A
• Filed: 08/24/1989
• Issued: 08/14/1990
• Est. Priority Date: 04/20/1988
• Status: Expired due to Fees

• Current Assignee: Payment Systems Technology Incorporated
• Original Assignee: Remittance Technology Corporation
• Inventors: Josephson, Stanley M., Thomson, Eric A.
• Primary Examiner(s): Bell, Paul A.
• Application Number:
  US07/399,376
• Time in Patent Office: 355 Days
• Field of Search: 283/58, 283/70
• US Class Current: 283/58
• CPC Class Codes: B42D 15/0053 Forms specially designed for commercial use, e.g. bills, receipts, offer or order sheets, coupons
• CPC Class Codes: B42D 25/29 Securities; Bank notes
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

There are disclosed herein methods and systems for affecting the accounting functions of debiting and crediting a bank'"'"'s account records, a payer'"'"'s bank account records and a corporation'"'"'s accounts receivable records with their customers'"'"'s payments, and are based upon the combination of data from two or more sources to prepare an integrated document comprising an invoice (bill) and a negotiable instrument, usually a bank check. These documents form an integrated document and contain all necessary pre-printed machine readable data and are combined to effect a variety of multi-function transactions. By combining all of the required data elements in a single document at the time of initial preparation of the integrated document, including an accounts receivable invoice and the payer'"'"'s check, the requirement for subsequent redundant, labor intensive processes are eliminated. The single integrated document becomes a multi-functional document which generates the transaction to effect the customer'"'"'s accounts receivable, the negotiable instrument to (i) credit the coporation'"'"'s financial institutions account and (ii) debit the customer'"'"'s financial institution'"'"'s account while creating a complete audit trail and accountability at each separate processing level.

Claims

1. An integrated billing document comprising two portions, one portion being an invoice or billing document, and the other portion being a check document,

the voice document comprising a printed invoice indicating a matter billed, and including in human readable form a billing entity'"'"'s name and address, a customer'"'"'s name and address, the customer'"'"'s account number at the billing entity, and the total dollar amount due, and

the check document being in the form of a bank check having a first side and a second side with the first side having printed thereon in human readable form

the customer'"'"'s name and address as the payer,

the bank name and address of the payer'"'"'s bank

the payer'"'"'s bank account number,

the account number of the customer/payer at the billing entity,

the dollar amount due as indicated on the invoice document, and

the matter billed as indicated on the invoice document,

the first side having printed thereon in machine readable form

the payer'"'"'s bank transit/routing number,

the payer'"'"'s bank account number,

the dollar amount to be paid, and

the payer'"'"'s account number at the billing entity,

the first side of the check document further having date and signature portions left blank to be added by the payer at the time the check document is signed by the payer, and

the second side of the check document having printed thereon

the endorsement of the billing entity including the name of the billing entity,

the name of the billing entity'"'"'s depository bank,

the account number of the billing entity at the depository bank, and

the transit/routing number of the depository bank.

2. An integrated billing document as in claim 1 wherein the check portion is detachable from the invoice or billing document portion.