Method and apparatus for managing account receivables

US7177828B1 · kind B1 · utility

Assignee

• General Electric Canada Equipment Finance G.P. · CA

Inventors

• David Land · Mississauga, CA
• Alan Getgood · London, CA

Key dates

• Filing date: May 2, 2000
• Grant date: Feb 13, 2007
• Expiry date: May 2, 2020

Classification

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

Abstract

An Accounts Receivable System (ARS) provides an option to a client to outsource the client's accounts receivable function. The ARS is divided into five separate modules, which includes a Credit Inquiry Module, a Remittance Processing Module, an Accounts Receivable Claim Module, a Maintenance Module, and an Administration Module. The ARS provides a full range of trade receivables Credit & Collection services involving credit evaluation, credit granting, customer collection and account reconciliation, cash receipt, application and banking, all account receivables (A/R) reporting, consolidation, including customer statement preparation and mailing, ending with direct feeds to the client's general ledger system (G/L) for the client's financial statement preparation.