Integrating invoice related financial transaction data into a personal financial management and bill payment system

Abstract

Financial transaction data is obtained and integrated into a personal financial management and bill payment system. Payment method data associated with the financial transaction data is obtained from the personal financial management and bill payment system. The payment method data is then used to more accurately and automatically identify tax related financial transactions for processing as tax related financial transactions having tax ramifications.

What is claimed is: 
     
         1 . A method performed by one or more processors of a system, the method comprising:
 accessing financial transactions conducted by a user of the system;   accessing payment method data associated with a plurality of discrete bills or invoices of the user represented in the financial transactions;   accessing a categorized payment method database comprising historical payment methods associated with historical tax related financial transactions;   identifying one or more payment methods that are associated with the historical payment methods and that match the payment method data by automatically comparing the payment method data to the historical payment methods, wherein the payment method data represents one or more of a credit account or a checking account;   transforming the financial transactions representing the bills or invoices associated with the one or more identified payment methods into tax related financial transactions; and   categorizing each of the transformed financial transactions as a tax-deductible financial transaction or a non-tax-deductible financial transaction.   
     
     
         2 . The method of  claim 1 , wherein the payment method data further represents one or more of a line of credit, a stored value account, a debit account, a charge account, an ATM account, a stored-value account, a fleet account, a gift account, or a cash account. 
     
     
         3 . The method of  claim 1 , wherein the historical payment methods are obtained by:
 accessing historical financial transactions conducted by the user;   identifying historical tax related financial transaction data associated with the historical financial transactions; and   identifying historical payment methods associated with the identified historical tax related financial transaction data by analyzing the identified historical tax related financial transaction data.   
     
     
         4 . The method of  claim 1 , wherein the historical payment methods are obtained from the user. 
     
     
         5 . The method of  claim 1 , wherein the financial transactions include Level-3 data associated with at least one financial transaction. 
     
     
         6 . The method of  claim 1 , wherein transforming the financial transactions includes providing a copy of the bills or invoices associated with the one or more identified payment methods to a tax preparation and filing system for processing as the tax related financial transactions. 
     
     
         7 . The method of  claim 1 , wherein transforming the financial transactions includes assigning a tax category to the bills or invoices associated with the one or more identified payment methods. 
     
     
         8 . A system comprising:
 at least one processor; and   at least one memory coupled to the at least one processor and storing instructions that, when executed by the at least one processor in conjunction with the at least one memory, cause the system to:
 access financial transactions conducted by a user of the system; 
 access payment method data associated with a plurality of discrete bills or invoices of the user represented in the financial transactions; 
 access a categorized payment method database comprising historical payment methods associated with historical tax related financial transactions; 
 identify one or more payment methods that are associated with the historical payment methods and that match the payment method data by automatically comparing the payment method data to the historical payment methods, wherein the payment method data represents one or more of a credit account or a checking account; 
 transform the financial transactions representing the bills or invoices associated with the one or more identified payment methods into tax related financial transactions; and 
 categorize each of the transformed financial transactions as a tax-deductible financial transaction or a non-tax-deductible financial transaction. 
   
     
     
         9 . The system of  claim 8 , wherein the payment method data further represents one or more of a line of credit, a stored value account, a debit account, a charge account, an ATM account, a stored-value account, a fleet account, a gift account, or a cash account. 
     
     
         10 . The system of  claim 8 , wherein the historical payment methods are obtained by:
 accessing historical financial transactions conducted by the user;   identifying historical tax related financial transaction data associated with the historical financial transactions; and   identifying historical payment methods associated with the identified historical tax related financial transaction data by analyzing the identified historical tax related financial transaction data.   
     
     
         11 . The system of  claim 8 , wherein the historical payment methods are obtained from the user. 
     
     
         12 . The system of  claim 8 , wherein the financial transactions include Level-3 data associated with at least one financial transaction. 
     
     
         13 . The system of  claim 8 , wherein transforming the financial transactions includes providing a copy of the bills or invoices associated with the one or more identified payment methods to a tax preparation and filing system for processing as the tax related financial transactions. 
     
     
         14 . The system of  claim 8 , wherein transforming the financial transactions includes assigning a tax category to the bills or invoices associated with the one or more identified payment methods. 
     
     
         15 . A system comprising:
 at least one processor; and   at least one memory coupled to the at least one processor and storing instructions that, when executed by the at least one processor in conjunction with the at least one memory, cause the system to:
 access financial transactions representing one or more discrete bills or invoices submitted by one or more payee businesses requesting payment by one or more payor users of the system, the financial transactions including:
 identity of the payee business associated with each discrete bill and invoice; 
 identity of the payor user associated with each discrete bill and invoice; and 
 payment amount associated with each discrete bill and invoice; 
 
 integrate the financial transactions into payment due data representing one or more bills and invoices associated with one or more users of the system to be paid through the system; 
 access payment method data associated with a plurality of discrete bills or invoices of a user of the system represented in the financial transactions; 
 access a categorized payment method database comprising historical payment methods associated with historical tax related financial transactions; 
 identify one or more payment methods that are associated with the historical payment methods and that match the payment method data by automatically comparing the payment method data to the historical payment methods, wherein the payment method data represents one or more of a credit account or a checking account; 
 transform the financial transactions representing the bills or invoices associated with the one or more identified payment methods into tax related financial transactions; and 
 categorize each of the transformed financial transactions as a tax-deductible financial transaction or a non-tax-deductible financial transaction. 
   
     
     
         16 . The system of  claim 15 , wherein the payment method data further represents one or more of a line of credit, a stored value account, a debit account, a charge account, an ATM account, a stored-value account, a fleet account, a gift account, or a cash account. 
     
     
         17 . The system of  claim 15 , wherein the historical payment methods are obtained by:
 accessing historical financial transactions conducted by the user;   identifying historical tax related financial transaction data associated with the historical financial transactions; and   identifying historical payment methods associated with the identified historical tax related financial transaction data by analyzing the identified historical tax related financial transaction data.   
     
     
         18 . The system of  claim 15 , wherein the financial transactions include Level-3 data associated with at least one financial transaction. 
     
     
         19 . The system of  claim 15 , wherein transforming the financial transactions includes providing a copy of the bills or invoices associated with the one or more identified payment methods to a tax preparation and filing system for processing as the tax related financial transactions. 
     
     
         20 . The system of  claim 15 , wherein transforming the financial transactions includes assigning a tax category to the bills or invoices associated with the one or more identified payment methods.