Patent ID: 8311913
Filing Date: 2012-11-13
Classification: G06Q,G07F

Abstract:
1. A method for creating a payables profile in an automated accounts payable process, the method comprising: receiving payable process data at a payment entity device that is configured to facilitate payment and reconciliation of accounts payable from a client device that is operated by a client that pays a plurality of creditors, wherein the payable process data includes identification information for the plurality of creditors and associated payment data for each of the plurality of creditors, wherein the associated payment data includes at least a first payment scheme for a first type of transaction with a first creditor of the plurality of creditors and a second payment scheme for a second type of transaction with a second creditor of the plurality of creditors; wherein the first payment scheme includes at least one of: a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account and the second payment scheme includes a different one of: a business credit card, a funds transfer, commercial paper, monetary consideration such as a rebate, refund, or exchange, and a debit account; wherein the first type of transaction includes individual transactions corresponding to a first category of services or goods, and wherein the second type of transaction includes individual transactions within a value threshold; generating a payables profile for the client by the payment entity device based on the payables process data; determining, by the payment entity device, whether the client device is associated with a level of service comprising a first level of service or another level of service that is not the first level of service; wherein the payment schemes are stored in the payables profile at the payment entity device, such that the payment entity device responds to payment data from the client device by generating a first payment of the first creditor by the first payment scheme for the first type of transaction and by generating a second payment of the second creditor by the second payment scheme for the second type of transaction in accordance with the payables process data.