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Automated statement presentation, adjustment and payment system and method therefor

  • US 7,805,365 B1
  • Filed: 03/06/2000
  • Issued: 09/28/2010
  • Est. Priority Date: 10/25/1999
  • Status: Expired due to Fees
First Claim
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1. A method for ordering and payment allocation for a seller and a buying entity, the seller having a plurality of subsidiaries, and the buying entity having a plurality of buyers, the method comprising the acts of:

  • receiving, at an ordering and payment allocation system, a plurality of orders comprising at least one order from more than one of the plurality of buyers associated with a buying entity, the plurality of orders corresponding to more than one subsidiary of the seller;

    using a computer processor, consolidating, at the ordering and payment allocation system, the plurality of orders for the buying entity into a consolidated invoice comprising particulars on the orders of the plurality of buyers associated with the buying entity;

    making the consolidated invoice available to the buying entity;

    receiving, at the ordering and payment allocation system, an indication from the buying entity as to which of the orders a payment is approved and which orders are disputed or excepted;

    receiving, at the ordering and payment allocation system, an aggregated payment from the buying entity;

    using the computer processor, disaggregating the aggregated payments by associating portions of the aggregated payment with an approved order and a corresponding subsidiary;

    using the computer processor, allocating the portions of each of the aggregated payments to the corresponding subsidiary for which the payment has been made;

    gathering A/R data and information based on the payments to subsidiaries, approved orders or the disputed or excepted orders;

    providing the A/R data and information to the seller;

    using the computer processor, performing a consolidated receivables process to gather payment data into consolidated receivables data for a single report; and

    using the computer processor, matching the consolidated receivables data to an outstanding sub-invoice file, and providing the matched data to the seller.

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