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.