System and method for categorizing transactions

• US 7,778,933 B2
• Filed: 09/04/2008
• Issued: 08/17/2010
• Est. Priority Date: 09/21/2001
• Status: Expired due to Fees

• Current Assignee: Open Invention Network LLC
• Original Assignee: YT Acquisition Corp.
• Inventors: Goff, Tennille V., Watson, Timothy Neil, Robinson, Timothy L., Schildt, Bradford R., Corwin, Daniel J.
• Primary Examiner(s): Elisca; Pierre E
• Application Number:
  US12/204,555
• Publication Number:
  US 20090006239A1
• Time in Patent Office: 712 Days
• Field of Search: 705/64, 705/67, 705/35
• US Class Current: 705/64
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07C 9/257 electronically G07C9/26 takes precedence
• CPC Class Codes: G07C 9/27 with central registration

Abstract

A system and method of allowing individuals to categorize transaction information. A user of the system may establish transaction identifiers that may be employed during or subsequent to a transaction in order to categorize transaction information.

Claims

1. A method for categorizing a financial transaction in a biometric authorization system, said method comprising:

storing financial transaction information generated at a point of sale in a user record;

at a time subsequent to storing said financial transaction, receiving a financial transaction categorization request from a user, said financial transaction categorization request including user biometric data;

comparing, via a computer, said user biometric data to biometric data stored in said user record;

if said comparison indicates a match, transmitting information that enables a display of said financial transaction information to said user;

receiving categorization information from said user that associates said financial transaction information with a transaction category; and

categorizing, via the computer, said financial transaction information in said user record according to said categorization information.

2. The method of claim 1, wherein said transaction category is one of a business transaction and a personal transaction.

3. The method of claim 1, wherein said financial transaction information was previously categorized according to biometric data received at said point of sale.

4. The method of claim 1, wherein said receiving categorization information comprises receiving a user interface selection indication.

5. A method for categorizing a financial transaction in a biometric authorization system, said method comprising:

receiving a request for access to a user record that includes information on a plurality of financial transactions completed prior to said accessing, wherein at least one of said plurality of financial transactions has associated therewith a transaction category that was determined based on biometric data that was received at a point of sale;

receiving a transaction identifier that is associated with a transaction category;

categorizing, via a computer, a selected one of said plurality of financial transactions in accordance with said transaction identifier; and

saving, via the computer, said categorized financial transaction in said user record.

6. The method of claim 5, further comprising transmitting a prompt for said transaction identifier.

7. The method of claim 5, further comprising receiving one or more additional transaction identifiers, wherein said additional transaction identifiers are associated with different transaction categories.

8. The method of claim 5, wherein said categorizing comprises employing a transaction identifier to categorize an individual item of one or more items identified by financial transaction information.

9. The method of claim 5, further comprising receiving one or more an additional transaction identifiers identifier, wherein said additional transaction identifier further categorizes a financial transaction in a subcategory.

10. A method of generating a financial transaction report in a biometric authorization system, said method comprising:

receiving financial transaction information for a plurality of financial transactions, wherein at least one of said plurality of financial transactions has associated therewith a transaction category that was determined based on biometric data that was received at a point of sale;

categorizing, via a computer, at least one of said plurality of financial transactions according to a transaction identifier received from a user;

generating, via the computer, said financial transaction report, said financial transaction report containing categorized transaction information associated with said transaction identifier; and

storing said financial transaction report in a user record.

11. The method of claim 10, wherein said financial transaction report is available via the Internet.

12. The method of claim 10, further comprising transmitting said financial transaction report to one or more of a user and a third party.

13. The method of claim 12, wherein said transmitting occurs automatically.

14. The method of claim 12, wherein said transmitting occurs on a periodic basis.

15. The method of claim 12, wherein said transmitting is accomplished via one or more of a physical process and an electronic process.

16. The method of claim 12, wherein said third party is one or more of said user'"'"'s employer, an accounting entity, a tax preparation organization, a tax collection organization, an authorized user, and a financial advisor.

17. The method of claim 10, further comprising initiating a user reimbursement procedure.

18. The method of claim 17, wherein said user is notified of one or more of a reimbursement approval and a reimbursement denial.