Invoice purchase order system
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United States of America Patent
Stats
-
N/A
Issued Date -
Oct 9, 2003
app pub date -
Mar 31, 2003
filing date -
Feb 9, 1996
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
An improved method and system for tracking and reconciling invoices and other payment devices, purchase orders and corresponding letters of credit is disclosed. In the system and method, information about the purchase orders and corresponding letters of credit received from the customer are compared against the performance of the manufacturer. Differences are identified automatically. Differences on the purchase order/SKU level are identified automatically and are used by the customer to determine the destiny of the order, control inventory, decide subsequent shipping, warehousing and pricing issues. The differences are communicated to the customer and may be used by the financial institution in deciding to authorize payment. Discrepancies are automatically identified and codified and are used by the customer and/or financial institution in deciding payment. Reconciliation information is also provided to the customer to aid in reconciling the customer's books in view of the plurality of purchase orders.
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