Patent ID: 7685076

Claim:
A computer program containing code segments which when executed on a computer perform automated invoice settlement utilizing a network, the computer program embodied on a computer readable medium, the computer program comprising: (a) a code segment for allowing a vendor to select from a group of options in order to enter invoice information utilizing a network, wherein the options include an action performed, a work category, a work performed, an equipment description, a labor time, and a labor type; (b) a code segment for receiving the selected options and associating each of the selected options with an invoice value utilizing the network; (b1) a code segment for providing an invoice summary including the selected options each with said invoice value and an invoice total; (b2) a code segment for allowing said vendor to submit said invoice summary to the computer program for automated review, negotiation, and acceptance; (c) a code segment for the computer program to compare said invoice value to a predetermined range of values for each said invoice value, said predetermined range of values are determined by considering one or more of the following factors selected from the list consisting of: a compilation of fair and reasonable values within an industry for the selected options, a geographic location, and a market force, wherein said predetermined range of values is continually updated to include accurate ranges of invoice values for said selected options having standard charges and non-standard charges; (d) a code segment for the computer program to accept said invoice total when each said invoice value is within said predetermined range of values for the selected options; (e) a code segment for the computer program to dynamically analyze said invoice values and automatically adjust one or more said invoice value when one or more said invoice value is greater or less than said predetermined range of values for the selected options; and (f) a code segment for allowing a purchaser to pay said invoice total accepted by the computer program and said invoice total adjusted by the computer program, wherein acceptance of said invoice total by said vendor provides said vendor with a firm payment date for said purchaser to pay said invoice total.