Method and apparatus for managing credit inquiries within account receivables
First Claim
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1. A method for managing trade receivables credit and collection services using an accounts receivable system including a server system coupled to a database, said method comprising the steps of:
- providing a plurality of customer devices;
associating a device with a business enterprise, the business enterprise having a client, the client having customers, wherein the business enterprise device configured with a browser;
connecting a server system associated with the business enterprise to the business enterprise device, wherein the business enterprise manages trade receivables credit for the client, manages collection services for the client, provides remittance processing for the client, and updates a general ledger of the client;
establishing a communication link between a client system and each of the business enterprise device, the server system, and the plurality of customer devices, the client system is associated with the client and manages ordering of products by customers using the plurality of customer devices, manages shipping of products to customers, and manages billing for ordered products;
authenticating the client system;
receiving customer information and purchase order information at the server system from the client system, the customer information includes financial information relating to a customer of the client, the purchase order information includes a purchase order amount for the purchase of at least one of a good and service by the customer from the client;
utilizing data from the customer information and the purchase order information;
using the server system to analyze a payment history of the customer over a predetermined period of time by comparing for each invoice received by the customer a date when the customer receives the invoice to a date when the customer pays the invoice;
retrieving through the business enterprise device credit information pertaining to the customer;
evaluating credit status of the customer based on client credit scoring options and transmitting information relating to a credit line of the customer with the client from the server system to the client through the client system;
comparing the purchase order amount to the credit line of the customer;
using the server system to process and generate journal entries for the client if the purchase order is less than or equal to the credit line of the customer; and
using the server system to post the journal entries on the general ledger of the client via the client system for financial monitoring, reporting and auditing purposes.
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Abstract
The Accounts Receivable System'"'"'s Credit Inquiry Module reviews payment history and performs credit inquiries by analyzing data from internal and external sources. The Credit Inquiry Module uses this analysis for credit management and customer contact. The Credit Inquiry Module based on customer payment data predicts overall cash forecasting for the client. The Credit Inquiry Module is utilized for account reconciliation and audit verification for tracking transactions at the customer level.
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Citations
24 Claims
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1. A method for managing trade receivables credit and collection services using an accounts receivable system including a server system coupled to a database, said method comprising the steps of:
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providing a plurality of customer devices;
associating a device with a business enterprise, the business enterprise having a client, the client having customers, wherein the business enterprise device configured with a browser;
connecting a server system associated with the business enterprise to the business enterprise device, wherein the business enterprise manages trade receivables credit for the client, manages collection services for the client, provides remittance processing for the client, and updates a general ledger of the client;
establishing a communication link between a client system and each of the business enterprise device, the server system, and the plurality of customer devices, the client system is associated with the client and manages ordering of products by customers using the plurality of customer devices, manages shipping of products to customers, and manages billing for ordered products;
authenticating the client system;
receiving customer information and purchase order information at the server system from the client system, the customer information includes financial information relating to a customer of the client, the purchase order information includes a purchase order amount for the purchase of at least one of a good and service by the customer from the client;
utilizing data from the customer information and the purchase order information;
using the server system to analyze a payment history of the customer over a predetermined period of time by comparing for each invoice received by the customer a date when the customer receives the invoice to a date when the customer pays the invoice;
retrieving through the business enterprise device credit information pertaining to the customer;
evaluating credit status of the customer based on client credit scoring options and transmitting information relating to a credit line of the customer with the client from the server system to the client through the client system;
comparing the purchase order amount to the credit line of the customer;
using the server system to process and generate journal entries for the client if the purchase order is less than or equal to the credit line of the customer; and
using the server system to post the journal entries on the general ledger of the client via the client system for financial monitoring, reporting and auditing purposes. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. Apparatus for managing trade receivables credit and collection services using an accounts receivable system including a server system coupled to a database, said apparatus comprising:
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a plurality of customer devices;
a device associated with a business enterprise, the business enterprise having a client, the client having customers, wherein said business enterprise device configured with a browser;
a server system associated with the business enterprise connected to said business enterprise device, wherein the business enterprise manages trade receivables credit for the client, manages collection services for the client, provides remittance processing for the client, and updates a general ledger of the client;
a client system associated with the client in communication with each of said business enterprise device, said server system, and said plurality of customer devices, said client system manages ordering of products by customers using said plurality of customer devices, manages shipping of products to customers, and manages billing for ordered products; and
a database for storing information pertaining to a plurality of clients of the business enterprise and a plurality of customers of the clients; and
said server system configured to;
communicate with the client system via the communication link;
authenticate the client system;
receive customer information and purchase order information from the client system, the customer information includes financial information relating to a customer of the client, the purchase order information includes a purchase order amount for the purchase of at least one of a good and service by the customer from the client;
utilize data from the customer information and the purchase order information;
analyze a payment history of the customer over a predetermined period of time by comparing for each invoice received by the customer a date when the customer receives the invoice to a date when the customer pays the invoice;
retrieve credit information pertaining to the customer;
evaluate credit status of the customer based on client credit scoring options and transmit information relating to a credit line of the customer with the client to the client through the client system;
compare the purchase order amount to the credit line of the customer;
process and generate journal entries for the client if the purchase order is less than or equal to the credit line of the customer; and
post the journal entries on the general ledger of the client via the client system for financial monitoring, reporting and auditing purposes. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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Specification