System and method for payment reconciliation against expressive contracts

US8494935B2 · kind B2 · utility

Assignee

• CombineNet, Inc. · US

Inventors

• Tuomas Sandholm · Pittsburgh, US
• David C. Parkes · Cambridge, US
• Craig E. Boutilier · Toronto, CA
• Subhash Suri · Lompoc, US
• Jason Brown · Keller, US
• Luc H. Mercier · Pittsburgh, US

Key dates

• Filing date: Oct 26, 2009
• Grant date: Jul 23, 2013
• Expiry date: Sep 28, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q50/188
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In a computer-implemented method of conducting expressive payment reconciliation, a purchase transaction is stored in a computer storage accessible to a processor. The processor identifies a contract against which the purchase transaction is made and a first payment amount for the purchase transaction. Contract data is stored in the computer storage and the processor determines a second payment amount for the purchase transaction based on at least one good or service associated with the purchase transaction and the data about the contract. In response to a difference in the first and second payments, the processor either stores computer storage a modified invoice with a modified payment amount, stores in the computer storage a reconciliation payment equal to the payment difference; outputs over a computer network an explanation of the modified payment; or outputs over a computer network a dispute notification.