Expense Splitting System Using Receipt Image OCR
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Solution Overview
Problem
The difficulty in splitting expenses among group members using electronic payments, as well as the inefficiencies and waste associated with paper receipts, which lack integration with electronic records and are prone to loss.
Innovation Solution
A computer-implemented expense splitting method and system that converts captured receipt images into purchase data, allows tagging of purchases with purchaser identities, allocates costs, and facilitates online payments and reimbursements, minimizing the reliance on paper receipts and enhancing expense management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If paper receipts are used for expense recording, then detailed purchase information is captured, but the receipts are prone to loss and create waste
Solution Approach 1:
The system creates digital copies of paper receipts through image capture and OCR technology. The optical character recognition process extracts text data from receipt images, converting physical paper information into electronic format that can be stored, searched, and managed without requiring the original paper document to be retained.
Solution Approach 2:
The patent replaces the mechanical paper-based receipt system with an electronic digital system. Instead of physically handling, storing, and protecting paper receipts, the system uses digital image capture, optical character recognition, and electronic data storage to achieve the same information retention function without the associated waste and loss risks.
2Ease of operation
If electronic payments are used for group purchases, then payment convenience is improved, but expense splitting among multiple purchasers becomes difficult
Solution Approach 1:
The system segments the total expense into individual line items and associates each item with specific purchasers through tagging. This allows the expense to be divided and allocated to multiple people based on their actual purchases, enabling accurate expense splitting while maintaining electronic payment convenience.
Solution Approach 2:
The system provides feedback mechanisms including itemized expense breakdowns, automatic calculation of each person's share, and digital records that show how expenses are allocated. This feedback loop helps users understand and verify the expense splitting process, reducing the perceived complexity.
3Reliability
If paper receipts are distributed to all purchasers, then each person has a record of their purchases, but information loss occurs when receipts are lost or discarded
Solution Approach 1:
The system merges all purchaser information, expense data, and receipt images into a single centralized electronic database. Instead of distributing separate paper receipts to each person, the consolidated digital record stores all information in one place, accessible to all authorized users, eliminating the risk of individual receipt loss.
Solution Approach 2:
The system creates digital copies of receipts and stores them in an electronic database with backup capabilities. These digital copies can be retrieved, viewed, and managed without risk of physical loss, ensuring reliable access to expense information for all purchasers.
Data Source
AI summary
Embodiments of the invention are directed to a computer-implemented expense splitting method and system for allowing a payer to divide expenses among multiple purchasers. The method may include storing, in at least one computer memory, payer data and expense splitting instructions and accessing the computer memory with at least one computer processor and executing the instructions to perform multiple steps. The steps may include converting a captured receipt image to purchase data and providing a user interface displaying entries corresponding to purchases, and further providing a tagging option for tagging each of the entries with an indicator of at least one purchaser identity. The steps may also include allocating a percentage of each entry to at least one purchaser based on the tagging, calculating an amount due from each purchaser based on the allocation, providing a payment interface for allowing online payment from the payer for a total amount of purchase; and generating reimbursement requests requesting each purchaser to reimburse the payer.