System and method for automated payment and adjustment processing

Abstract

A system and method for automated adjustment processing using pre-configured sets of business rules is provided. The seller pre-configures a set of business rules for use in processing an adjustment for a specific buyer. The set of business rules may be variable for each buyer and/or globally set. When a payment is received from a seller and an adjustment is required, an adjustment management application retrieves the buyer's set of business rules from the seller. The set of business rules are then applied to attempt to match the received payment to one of the buyer's outstanding invoices. If the match is successful, the buyer's payment is processed.

1 . A method for automated adjustment processing, said method including: 
 receiving a payment from a buyer at a seller;    retrieving buyer-specific information for said buyer from said seller, said buyer-specific information including at least one outstanding invoice for said seller and at least one business rule;    applying said business rule of a comparison of said payment and said at least one invoice;    processing said payment when said payment matches said at least one outstanding invoice within the criteria of said business rule.    
     
     
         2 . The method of  claim 1  wherein said business rule is a buyer specific discount to said invoice.  
     
     
         3 . The method of  claim 1  wherein said business rule is a buyer specific numeric threshold difference in the amount of said payment and said invoice.  
     
     
         4 . The method of  claim 1  wherein said business rule is a buyer specific percentage threshold difference in the amount of said payment and said invoice.  
     
     
         5 . The method of  claim 1  wherein said business rule is a buyer specific decision to allow said buyer to pay less than the total amount of said invoice.  
     
     
         6 . The method of  claim 1  further including: 
 receiving an adjustment to said invoice before said receiving step; and    applying said adjustment to said invoice before applying said business rule    
     
     
         7 . The method of  claim 1  further including: 
 transmitting said payment to a sales adjustment document creator when said payment does not match said at least one outstanding invoice within the criteria of said business rule    
     
     
         8 . The method of  claim 7  further including: 
 transmitting posting data to said seller to notify said seller that said payment does not match at least one outstanding invoice.    
     
     
         9 . A method for processing adjustments to a payment by a seller using seller-configurable business rules that may be varied for a plurality of buyers, said method including: 
 storing a first set of business rules at a seller for use in processing adjustments for a first buyer;    storing a second set of business rules at said seller for use in processing adjustments for a second buyer,    wherein said first set of business rules is not identical to said second set of business rules;    receiving a first payment from a first buyer at said seller;    receiving a second payment from a second buyer at said seller, both said first payment and said second payment requiring an adjustment;    processing an adjustment to said first payment using said first set of business rules; and    processing an adjustment to said second payment using said second set of business rules.    
     
     
         10 . The method of  claim 9  wherein at least one of said business rules in one of said first set of business rules and said second set of business rules is a buyer specific discount to said invoice.  
     
     
         11 . The method of  claim 9  wherein at least one of said business rules in one of said first set of business rules and said second set of business rules is a buyer specific numeric threshold difference in the amount of said payment and said invoice.  
     
     
         12 . The method of  claim 9  wherein at least one of said business rules in one of said first set of business rules and said second set of business rules is a buyer specific percentage threshold difference in the amount of said payment and said invoice.  
     
     
         13 . The method of  claim 9  wherein at least one of said business rules in one of said first set of business rules and said second set of business rules is a buyer specific decision to allow said buyer to pay less than the total amount of said invoice.  
     
     
         14 . The method of  claim 9  wherein said processing is performed by an Application Service Provider (ASP).  
     
     
         15 . The method of  claim 9  wherein said processing is performed at a financial institution.  
     
     
         16 . The method of  claim 9  wherein said processing is outsourced to a third party.  
     
     
         17 . A system for automated processing of adjustments to payments submitted by a buyer to a seller, said system including: 
 a data source at a seller, said data source including a set of buyer-specific business rules configured for use in processing an adjustment to a payment by a buyer;    a business data filter receiving an outstanding invoice for said buyer from said seller and receiving a payment from a buyer, said payment requiring an adjustment,    wherein said business data filter receives said set of buyer-specific business rules from said data source and processes said payment by matching said payment to an outstanding invoice using said set of buyer-specific business rules.    
     
     
         18 . The system of  claim 17  wherein at least one of said business rules in one of said first set of business rules and said second set of business rules is a buyer specific discount to said invoice.  
     
     
         19 . The system of  claim 17  wherein at least one of said business rules is a buyer specific numeric threshold difference in the amount of said payment and said invoice.  
     
     
         20 . The system of  claim 17  wherein at least one of said business rules is a buyer specific percentage threshold difference in the amount of said payment and said invoice.  
     
     
         21 . The system of  claim 17  wherein at least one of said business rules is a buyer specific decision to allow said buyer to pay less than the total amount of said invoice.  
     
     
         22 . A system for automated processing of adjustments to payments submitted by a buyer to a seller, said system including: 
 a data source at a seller, said data source including a set of buyer-specific business rules configured for use in processing an adjustment to a payment by a buyer;    a business data filter receiving an outstanding invoice for said buyer from said seller and receiving a payment from a buyer, said payment requiring an adjustment,    wherein said business data filter receives said set of buyer-specific business rules from said data source and processes said payment by matching said payment to an outstanding invoice using said set of buyer-specific business rules,    wherein said business data filter is an Application Service Provider (ASP).    
     
     
         23 . A system for automated processing of adjustments to payments submitted by a buyer to a seller, said system including: 
 a data source at a seller, said data source including a set of buyer-specific business rules configured for use in processing an adjustment to a payment by a buyer;    a business data filter receiving an outstanding invoice for said buyer from said seller and receiving a payment from a buyer, said payment requiring an adjustment,    wherein said business data filter receives said set of buyer-specific business rules from said data source and processes said payment by matching said payment to an outstanding invoice using said set of buyer-specific business rules,    wherein said business data filter is a software application at a financial institution.    
     
     
         24 . A method for automated adjustment processing, said method including: 
 receiving a payment from a buyer at a seller;    retrieving buyer-specific information for said buyer from said seller, said buyer-specific information including at least one outstanding invoice for said seller and at least one business rule;    applying said business rule of a comparison of said payment and said at least one invoice;    processing said payment when said payment matches said at least one outstanding invoice within the criteria of said business rule,    wherein said processing is performed by an Application Service Provider (ASP).    
     
     
         25 . A method for automated adjustment processing, said method including: 
 receiving a payment from a buyer at a seller;    retrieving buyer-specific information for said buyer from said seller, said buyer-specific information including at least one outstanding invoice for said seller and at least one business rule;    applying said business rule of a comparison of said payment and said at least one invoice;    processing said payment when said payment matches said at least one outstanding invoice within the criteria of said business rule,    wherein said processing is performed by a software application at a financial institution.    
     
     
         26 . A method for automated adjustment processing, said method including: 
 receiving a payment from a buyer at a seller;    retrieving buyer-specific information for said buyer from said seller, said buyer-specific information including at least one outstanding invoice for said seller and at least one business rule;    applying said business rule of a comparison of said payment and said at least one invoice;    processing said payment when said payment matches said at least one outstanding invoice within the criteria of said business rule,    wherein said processing is performed by a software application that has been outsourced to a third party.