Automated Debtor Payment Matching System
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Solution Overview
Problem
Collection authorities face a time-consuming and tedious process in matching debtor payments to their accounts, requiring manual data copying and posting into various accounting systems after receiving trustee data from the National Data Center.
Innovation Solution
A method and system that automate the process by retrieving debtor payment voucher files from the National Data Center, identifying and batching associated payment transactions, and generating general ledger account entries for posting to accounting systems, reducing manual errors and increasing efficiency.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If manual matching process is used to match debtor payments to collection authority accounts, then accuracy can be maintained through human review, but the process becomes time-consuming and tedious
Solution Approach 1:
The patent replaces the manual mechanical matching process with an automated computer-based system that retrieves trustee data, matches payments to accounts, and posts transactions automatically. The system uses automated data retrieval, matching algorithms, and electronic posting to eliminate manual intervention while maintaining accuracy through systematic processing rules and validation protocols.
Solution Approach 2:
The system enables self-service by allowing the automated matching process to perform its own data retrieval, comparison, and posting functions without requiring human operators. The computer system independently retrieves trustee data, identifies matching accounts, validates transactions, and posts payments automatically, making the process self-sufficient while reducing time loss.
2Productivity
If automated matching process is implemented to reduce manual labor, then processing speed increases, but system complexity increases
Solution Approach 1:
The patent implements a universal automated system that performs multiple functions: retrieving trustee data from external sources, matching payments to multiple collection authority accounts, validating transactions, batch processing, and posting to accounting systems. This multi-functional system consolidates what would otherwise require separate manual processes into a single automated platform, increasing productivity while managing complexity through integration.
Solution Approach 2:
The system introduces an intermediary automated matching layer between the trustee data source and the collection authority accounts. This intermediary system retrieves data from trustees, performs the matching logic, and posts results to accounts, acting as a mediator that simplifies the overall process while enabling high-speed automated processing without direct human intervention.
3Reliability
If manual data copying is required to post payments to accounting systems, then data accuracy can be verified, but the ease of operation decreases
Solution Approach 1:
The patent replaces manual data copying and verification with automated electronic data transmission. The system electronically retrieves trustee data, automatically matches it to accounts using predefined criteria, validates transactions through automated checks, and posts payments directly to accounting systems via electronic interfaces, eliminating manual copying while maintaining reliability through systematic validation protocols.
Solution Approach 2:
The system implements feedback mechanisms where the automated matching process continuously validates data accuracy through automated checks, error detection, and exception reporting. The system provides feedback on matching results, identifies discrepancies, and allows for automated correction or manual review only when necessary, thereby maintaining data reliability while significantly improving ease of operation compared to continuous manual verification.
Data Source
AI summary
A method includes retrieving a debtor payment voucher file from a third party repository of bankruptcy trustee data, such as the National Data Center, wherein the debtor payment voucher file comprises information regarding debtor payments to a bankruptcy trustee; identifying a first set of debtor payment transaction information contained within the debtor payment voucher file that can be associated with one or more bankruptcy accounts of a collection authority; identifying a second set of debtor payment transaction information contained within the debtor payment voucher file that cannot be associated with one or more bankruptcy accounts of the collection authority; and combining the first set of debtor payment transaction information into a batch file. General ledger account entries for debtor payment transaction information in the batch file are generated and these general ledger account entries are then posted to an accounting system.