Expense Splitting via Receipt OCR and Digital Allocation
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Solution Overview
Problem
Current systems face difficulties in efficiently managing expenses, particularly when splitting bills among group members, due to the disjointed nature of paper and electronic receipts, leading to lost information and unnecessary waste, and existing solutions do not effectively integrate receipt data with expense management systems.
Innovation Solution
A computer-implemented expense splitting system that captures receipt images, converts them into data, and provides an interactive interface for allocating expenses among users, allowing for online payments and reimbursement, utilizing machine learning and merchant integration to parse itemized receipts and minimize paper dependency.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If paper receipts are used for expense tracking, then detailed purchase information is captured, but the receipts are easily lost or accidentally thrown away
Solution Approach 1:
The patent creates digital copies of paper receipts through image capture and OCR technology. The system photographs the receipt and converts it into structured digital data that can be stored, searched, and managed electronically, eliminating the risk of physical loss while preserving all receipt information.
Solution Approach 2:
The patent merges the paper receipt information with electronic purchase records by integrating OCR-extracted data with POS transaction records and credit card records. This creates a unified digital expense management system that combines the detailed item information from paper receipts with the electronic transaction data.
2Ease of operation
If paper receipts are distributed to all group members, then each member has expense information, but it creates unnecessary waste
Solution Approach 1:
Instead of distributing physical copies of receipts to all group members, the system creates digital copies that can be instantly shared through the mobile application. Each member can access the same receipt information on their device without requiring physical paper copies, eliminating waste while maintaining accessibility.
Solution Approach 2:
The patent creates a universal digital platform where all group members can access expense information through a single centralized system. The mobile application serves multiple functions: storing receipts, sharing information, splitting expenses, and tracking budgets, replacing the need for multiple physical receipt copies.
3Ease of operation
If electronic payments are used for group purchases, then payment convenience is improved, but expense splitting between group members becomes difficult
Solution Approach 1:
The patent segments the total expense into individual portions by using OCR to extract item-level details from receipts. The system then allows group members to be assigned to specific items or categories, automatically calculating each person's share based on the segmented expense data rather than requiring manual splitting.
Solution Approach 2:
The mobile application serves as an intermediary between electronic payment and expense splitting. It captures receipt information, processes the expense data, and coordinates the splitting logic, mediating between the convenience of electronic payment and the complexity of fair expense allocation among multiple users.
4Measurement precision
If detailed receipt information is captured for accurate expense splitting, then expense allocation precision is improved, but data processing complexity increases
Solution Approach 1:
The patent replaces manual data entry and processing with automated optical character recognition (OCR) technology. The system photographs the receipt and uses OCR to automatically extract item descriptions, prices, and quantities, eliminating manual typing while capturing detailed information for precise expense allocation.
Solution Approach 2:
The system performs self-service data extraction by automatically processing the receipt image through OCR and structuring the data without user intervention. The application autonomously identifies items, calculates totals, and prepares expense splitting options, reducing the processing burden on users while maintaining high precision.
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 with merchant integration. 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 storing the receipt data and format for easy receipt capture on a subsequent purchase.