Transaction accounting auditing approach and system therefor
First Claim
1. A transaction payment system to audit transaction data for a multitude of different transaction parties as a function of contract terms agreed to by a buyer of merchant offerings and a seller of the merchant offerings for each transaction, the system comprising:
- a software-programmed circuit configured, for each of a multitude of sets of transaction data, toexecute an identification algorithm, using the transaction data set and stored profile data for a multitude of transaction participants, to identify data element-specific classification rules pertaining to at least one of a buyer and a seller;
select one of a plurality of data-auditing algorithms respectively programmed on behalf of disparate entities;
execute the selected data-auditing algorithm to audit individual data elements within each set of transaction data using the set of transaction data and the identified data element-specific classification rules as inputs to the algorithm, to determine a condition of electronic payment data validation for each data element.
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Accused Products
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 automatically classified. This processing involves, for example, the identification of particular data based rules to apply to the accounting information, applying the rules and processing the information accordingly.
92 Citations
17 Claims
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1. A transaction payment system to audit transaction data for a multitude of different transaction parties as a function of contract terms agreed to by a buyer of merchant offerings and a seller of the merchant offerings for each transaction, the system comprising:
a software-programmed circuit configured, for each of a multitude of sets of transaction data, to execute an identification algorithm, using the transaction data set and stored profile data for a multitude of transaction participants, to identify data element-specific classification rules pertaining to at least one of a buyer and a seller; select one of a plurality of data-auditing algorithms respectively programmed on behalf of disparate entities; execute the selected data-auditing algorithm to audit individual data elements within each set of transaction data using the set of transaction data and the identified data element-specific classification rules as inputs to the algorithm, to determine a condition of electronic payment data validation for each data element. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
Specification