Centralized accounting system for invoice generation accessible via computer network

US11900443B1 · kind B1 · utility

Assignee

• Wells Fargo Bank, N.A. · US

Inventors

• Kathryn Seabaugh · Denver, US
• Rishabh Mallick · Denver, US
• Philip Perry · Golden, US
• Justin Sogge · Parker, US
• Mandy Valdes · Englewood, US
• Rebecca Stoddard · Atlanta, US

Key dates

• Filing date: Aug 12, 2022
• Grant date: Feb 13, 2024
• Expiry date: Aug 12, 2042

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/12
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A centralized accounting system for invoice generation is described as a web-based portal accessible by parties of a supply chain finance relationship via one or more computer networks. The centralized system provides a computer-based, network accessible platform in which a customer and a vendor may negotiate and agree upon terms of a purchase order for products. The centralized system then approves the purchase order based on vendor and customer profile information, and sends a notification of the approved purchase order to a bank. The centralized system automatically generates a vendor invoice for the approved purchase order and submit the vendor invoice to the bank for payment according the terms of the supply chain finance relationship. The centralized system ensures that the vendor invoice is accurate for the approved purchase order. The centralized system may also automatically generate and submit a bank invoice to the customer for the approved purchase order.