Description:FIELD OF INVENTION
[0001] Embodiments of the present disclosure relate to the field of data processing, and more particularly, a system and a method for automating conversion of accounting transactions.
BACKGROUND
[0002] A business transaction is an economic event between two or more parties that is recorded in an organization’s accounting system. For instance, purchases, sales, payments and receipts of cash are business transactions. A business transaction should be supported by a source document. Further, recording transactions helps with many business processes, for instance, creating reports that can be used by decision makers to monitor, analyze and improve operations. For instance, the purchase of inventory from a supplier could be supported by a purchase order while the payment of wages to an employee could be supported by a timesheet.
[0003] Traditionally, a user manually creates business transactions such as sales orders, purchase orders, sales returns, purchase returns, credit memos, debit memos, receipts, payments, and expenses. This process is time-consuming and requires a lot of resources and manual data entry may be prone to errors. For example, if customer wants to enter an items or transaction, customer must first log into his account and then enter each transaction manually and can be tedious. If there are more customers, the process of manually entering items into each account becomes challenging, and the task should be assigned to another employee.
[0004] Hence, there is a need for an improved system and method for automating conversion of accounting transactions which addresses the aforementioned issue(s).
OBJECTIVE OF THE INVENTION
[0005] An objective of the invention is to automate conversion of accounting transactions from one consumer to another consumer.
BRIEF DESCRIPTION
[0006] In accordance with an embodiment of the present disclosure, a system for automating conversion of transactions is provided. The system includes a processing subsystem hosted on a server. The processing subsystem is configured to execute on a network to control bidirectional communications among a plurality of modules. The processing subsystem includes a receiving module configured to receive a sales order including a plurality of items from a first user wherein the first user is a customer who manually enters the sales order to a first user login book upon selecting a second user from a database. The processing subsystem also includes a data transfer module operatively coupled to the receiving module configured to automatically copy the plurality of items from a first-user login book to a second-user login book thereby creating a purchase order in the second-user login book wherein the second-user login book corresponds to the second user. Further, the processing subsystem includes a mapping module operatively coupled to the data transfer module configured to map the plurality of items in the first-user login book and the plurality of items in the second-user login book based on a master identification number. Further, the processing subsystem also includes a display module operatively coupled to the mapping module configured to display the purchase order to the second user in the second user login book. Furthermore, the processing subsystem includes a notification module configured to generate a notification to the second user to approve the purchase order added to the second-user login book. The notification is also configured to generate the notification to the second user upon modifying the plurality of items by the first user in the first-user login book.
[0007] In accordance with another embodiment of the present disclosure, a method for automating conversion of transactions is provided. The method includes receiving, by a receiving module of a processing subsystem, a sales order including a plurality of items from a first user wherein the first user is a customer who manually enters the sales order to a first user login book upon selecting a second user from a database. The method also includes copying, by a data transfer module of the processing subsystem, automatically the plurality of items from a first-user login book to a second-user login book thereby creating a purchase order in the second-user login book wherein the second-user login book corresponds to the second user. Further, the method includes mapping, by a mapping module of the processing subsystem, the plurality of items in the first-user login book and the plurality of items in the second-user login book based on a master identification number. Further, the method also includes displaying, by a display module of the processing subsystem, the purchase order to the second user in the second user login book. Furthermore, the method includes generating, by a notification module of the processing subsystem, a notification to the second user to approve the purchase order added to the second-user login book. Furthermore, the method also includes generating, by the notification module of the processing subsystem, the notification to the second user upon modifying the plurality of items by the first user in the first-user login book.
[0008] To further clarify the advantages and features of the present disclosure, a more particular description of the disclosure will follow by reference to specific embodiments thereof, which are illustrated in the appended figures. It is to be appreciated that these figures depict only typical embodiments of the disclosure and are therefore not to be considered limiting in scope. The disclosure will be described and explained with additional specificity and detail with the appended figures.
BRIEF DESCRIPTION OF THE DRAWINGS
[0009] The disclosure will be described and explained with additional specificity and detail with the accompanying figures in which:
[0010] FIG. 1 is a block diagram representation of a system for conversion of accounting transactions in accordance with an embodiment of the present disclosure;
[0011] FIG. 2 is a block diagram of an exemplary embodiment of a system of FIG. 1 for automating conversion of transactions in a real-time scenario in accordance with an embodiment of the present disclosure;
[0012] FIG. 3 is a flow diagram illustrating the automated mapping of at least two users implemented by the mapping module in an exemplary scenario of sales and purchase of FIG.1 in accordance with an embodiment of the present disclosure;
[0013] FIG. 4 is a block diagram of a computer or a server in accordance with an embodiment of the present disclosure; and
[0014] FIG. 5 illustrates a flow chart representing the steps involved in a method for automating conversion of transactions in accordance with an embodiment of the present disclosure.
[0015] Further, those skilled in the art will appreciate that elements in the figures are illustrated for simplicity and may not have necessarily been drawn to scale. Furthermore, in terms of the construction of the device, one or more components of the device may have been represented in the figures by conventional symbols, and the figures may show only those specific details that are pertinent to understanding the embodiments of the present disclosure so as not to obscure the figures with details that will be readily apparent to those skilled in the art having the benefit of the description herein.
DETAILED DESCRIPTION
[0016] For the purpose of promoting an understanding of the principles of the disclosure, reference will now be made to the embodiment illustrated in the figures and specific language will be used to describe them. It will nevertheless be understood that no limitation of the scope of the disclosure is thereby intended. Such alterations and further modifications in the illustrated system, and such further applications of the principles of the disclosure as would normally occur to those skilled in the art are to be construed as being within the scope of the present disclosure.
[0017] The terms “comprises”, “comprising”, or any other variations thereof, are intended to cover a non-exclusive inclusion, such that a process or method that comprises a list of steps does not include only those steps but may include other steps not expressly listed or inherent to such a process or method. Similarly, one or more devices or subsystems or elements or structures or components preceded by "comprises... a" does not, without more constraints, preclude the existence of other devices, sub-systems, elements, structures, components, additional devices, additional sub-systems, additional elements, additional structures or additional components. Appearances of the phrase "in an embodiment", "in another embodiment" and similar language throughout this specification may, but not necessarily do, all refer to the same embodiment.
[0018] Unless otherwise defined, all technical and scientific terms used herein have the same meaning as commonly understood by those skilled in the art to which this disclosure belongs. The system, methods, and examples provided herein are only illustrative and not intended to be limiting.
[0019] In the following specification and the claims, reference will be made to a number of terms, which shall be defined to have the following meanings. The singular forms “a”, “an”, and “the” include plural references unless the context clearly dictates otherwise.
[0020] Embodiments of the present disclosure relates to a system for automating conversion of transactions. The processing subsystem includes a receiving module configured to receive a sales order including a plurality of items from a first user wherein the first user is a customer who manually enters the sales order to a first user login book upon selecting a second user from a database. The processing subsystem also includes a data transfer module operatively coupled to the receiving module configured to automatically copy the plurality of items from a first-user login book to a second-user login book thereby creating a purchase order in the second-user login book wherein the second-user login book corresponds to the second user. Further, the processing subsystem includes a mapping module operatively coupled to the data transfer module configured to map the plurality of items in the first-user login book and the plurality of items in the second-user login book based on a master identification number. Further, the processing subsystem also includes a display module operatively coupled to the mapping module configured to display the purchase order to the second user in the second user login book. Furthermore, the processing subsystem includes a notification module configured to generate a notification to the second user to approve the purchase order added to the second-user login book. The notification is also configured to generate the notification to the second user upon modifying the plurality of items by the first user in the first-user login book.
[0021] FIG. 1 is a block diagram of a system (100) for automating conversion of transactions in accordance with an embodiment of the present disclosure. The system (100) includes a processing subsystem (105) hosted on a server (108). In one embodiment, the server (108) may include a cloud-based server. In another embodiment, parts of the server (108) may be a local server coupled to a user device (not shown in FIG.1). The processing subsystem (105) is configured to execute on a network (115) to control bidirectional communications among a plurality of modules. In one example, the network (115) may be a private or public local area network (LAN) or Wide Area Network (WAN), such as the Internet. In another embodiment, the network (115) may include both wired and wireless communications according to one or more standards and/or via one or more transport mediums. In one example, the network (115) may include wireless communications according to one of the 802.11 or Bluetooth specification sets, or another standard or proprietary wireless communication protocol. In yet another embodiment, the network (115) may also include communications over a terrestrial cellular network, including, a global system for mobile communications (GSM), code division multiple access (CDMA), and/or enhanced data for global evolution (EDGE) network.
[0022] The system (100) includes a receiving module (120) configured to receive a sales order including a plurality of items from a first user. The sales order is a confirmation document that is issued to a buyer by a seller, prior to delivery of specified goods or services. As used herein, the plurality of items may be at least one of the quantities required, cost of plurality of items, and discount for the plurality of items. The first user is a customer who manually enters the sales order to a corresponding first user login book upon selecting a second user from a database. As used herein, the first user and the second user participate in a transaction. It must be noted that the transaction refers to any equivalent transactions of accounting. Examples of the transaction includes, but is not limited to, sales-purchase, invoices- bills, sales return- purchase return, credit memo- debit memo and vendor payment- customer receipt. Typically, the database may include the second user information. The second user information includes a phone number and electronic mail address.
[0023] In one embodiment, the database may include a plurality of customer’s data who purchased plurality of items.
[0024] The system (100) also includes a data transfer module (130) operatively coupled to the receiving module (120) configured to automatically copy the plurality of items from a first-user login book to a second-user login book thereby creating a purchase order in the second-user login book. The second-user login book corresponds to the second user. Typically, the purchase order is a written commercial document that authorizes a supplier to supply stated material at agreed terms and conditions.
[0025] The system (100) further includes a mapping module (140) operatively coupled to the data transfer module (130) configured to map the plurality of items in the first-user login book and the plurality of items in the second-user login book based on a master identification number. Typically, the master identification number for the plurality of items in the first-user login book and the second user-login book is same but the plurality of items in the first-user login book and the second user login book have different identification numbers.
[0026] In one embodiment, the identification number for each of the plurality of items are unique.
[0027] In another embodiment, in the absence of identification numbers, names of the plurality of items can be mapped in the first-user login book and the second user-login book. For instance, consider that the plurality of items in the first-user login book have different identification numbers but has the same master identification number. In such a scenario, the plurality of items are mapped with their respective names.
[0028] Further, the system (100) includes a display module (150) operatively coupled to the mapping module configured to display the purchase order to the second user in the second user login book. Typically, the display module displays the plurality of items, the quantity of the plurality of items and the discount for the plurality of items.
[0029] Furthermore, the system (100) includes a notification module (160) configured to generate a notification to the second user to approve the purchase order added to the second-user login book. Further, the notification module is also configured to generate the notification to the second user upon modifying the plurality of items by the first user in the first-user login book.
[0030] In one embodiment, the display module (150) and the notification module (160) is used based on the customer's accounting application.
[0031] In a specific embodiment, the second user has an option to approve or reject the purchase order.
[0032] It is to be noted that the system may comprise, but is not limited to, a mobile phone, desktop computer, portable digital assistant (PDA), smart phone, tablet, ultra-book, netbook, laptop, multi-processor system, microprocessor-based or programmable consumer electronic system, or any other communication device that a user may use. In some embodiments, the system may comprise a display module (not shown) to display information (for example, in the form of user interfaces). In further embodiments, the system may comprise one or more of touch screens, accelerometers, gyroscopes, cameras, microphones, global positioning system (GPS) devices, and so forth.
[0033] In one embodiment, the various functional components of the system may reside on a single computer, or they may be distributed across several computers in various arrangements. The various components of the system may, furthermore, access one or more databases, and each of the various components of the system may be in communication with one another. Further, while the components of FIG. 1 are discussed in the singular sense, it will be appreciated that in other embodiments multiple instances of the components may be employed.
[0034] FIG. 2 is a block diagram of an exemplary embodiment of a system of FIG. 1 for automating conversion of transactions in a real-time scenario in accordance with an embodiment of the present disclosure.
[0035] In an example, consider a user ‘X’ and user ‘Y’ wherein the user X is a first user, and the user ‘Y’ is a second user who participates in a transaction. The receiving module (120) receives a plurality of items from a first user. For example, the first user enters a plurality of items manually in a first user login book by selecting the plurality of users from a database (165). For example, the user Y may be selected who has purchased one or more products earlier. The data transfer module automatically copies the plurality of items from the first user login book (175) to the second user login book (180). For example, the plurality of items present in the first user login book have different identification numbers but has the same master identification. The mapping module (140) maps the plurality of items based on a master identification number. The display module (150) displays the plurality of items to the second user. For example, the plurality of items may display plurality of items. For example, apples, tomato, brinjal, quantity required, and discount offered to the plurality of items. The notification module (160) sends the notification to the second user to approve the plurality of items. The user Y has an option to accept or reject the approval request. If the user rejects the plurality of the items in the second user login book the notification module (160) again sends a notification to the user X that the user Y has rejected the purchase order. Now, the user X have an option to modify the plurality of items in the sales order that is automatically copied to the purchase order of the second user login book.
[0036] FIG. 3 is a flow diagram illustrating the automated mapping of at least two users implemented by the mapping module in an exemplary scenario of sales and purchase of FIG.1 in accordance with an embodiment of the present disclosure. Let’s consider two users, named ‘A’ and ‘B’ operating user device (202) and user device (204) respectively. ‘A’ is a vendor and makes an entry to a vendor payment (206). Automatically, a corresponding entry is made as a customer receipt (208) pertaining to user ‘B’. It must be noted that ‘A’ is the vendor and ‘B’ is the customer. Therefore, the entry made at the vendor ‘A’ automatically triggers an entry at the customer ‘B’. This acts as the automated relationship maintained between ‘A’ and ‘B’.
[0037] Likewise, the following can be observed:
1. Suppose ‘B’ is the vendor and ‘B’ makes a vendor payment (210) then a corresponding entry is made automatically as a customer receipt (212) pertaining to user ‘A’.
2. Consider a user ‘X’ and user ‘Y’ operating on a user device (212) and a user device (214) respectively. Suppose user ‘X’ participates in a sales transaction (216) then a corresponding entry is made automatically as a purchase order (218) pertaining to user ‘B’ in response to the user ‘B’ approving the purchase details.
3. Likewise, suppose user ‘Y’ makes a sales transaction entry (220) then a corresponding entry is made automatically as a purchase order (222) pertaining to user ‘A’.
[0038] Therefore, the relationship between the users are maintained for separate transactions and stored in a master repository (224).
[0039] FIG. 4 is a block diagram of a computer or a server in accordance with an embodiment of the present disclosure. The server (200) includes processor(s) (230), and memory (210) operatively coupled to the bus (220). The processor(s) (230), as used herein, means any type of computational circuit, such as, but not limited to, a microprocessor, a microcontroller, a complex instruction set computing microprocessor, a reduced instruction set computing microprocessor, a very long instruction word microprocessor, an explicitly parallel instruction computing microprocessor, a digital signal processor, or any other type of processing circuit, or a combination thereof.
[0040] The memory (210) includes several subsystems stored in the form of executable program which instructs the processor (230) to perform the method steps illustrated in FIG. 1. The memory (210) includes a processing subsystem (105) of FIG.1. The processing subsystem (105) further has following modules: a receiving module (120), a data transfer module (130), a mapping module (140), a display module (150), and a notification module (160).
[0041] The receiving module (120) configured to receive a sales order including a plurality of items from a first user wherein the first user is a customer who manually enters the sales order to a first user login book upon selecting a second user from a database. The processing subsystem (105) also includes a data transfer module (130) operatively coupled to the receiving module (120) configured to automatically copy the plurality of items from a first-user login book to a second-user login book thereby creating a purchase order in the second-user login book wherein the second-user login book corresponds to the second user. Further, the processing subsystem (105) includes a mapping module (140) operatively coupled to the data transfer module (130) configured to map the plurality of items in the first-user login book and the plurality of items in the second-user login book based on a master identification number. Further, the processing subsystem (105) also includes a display module (150) operatively coupled to the mapping module (140) configured to display the purchase order to the second user in the second user login book. Furthermore, the processing subsystem (105) includes a notification module (160) configured to generate a notification to the second user to approve the purchase order added to the second-user login book. The notification is also configured to generate the notification to the second user upon modifying the plurality of items by the first user in the first-user login book.
[0042] The bus (220) as used herein refers to internal memory channels or computer network that is used to connect computer components and transfer data between them. The bus (220) includes a serial bus or a parallel bus, wherein the serial bus transmits data in bit-serial format and the parallel bus transmits data across multiple wires. The bus (220) used herein may include but not limited to, a system bus, an internal bus, an external bus, an expansion bus, a frontside bus, a backside bus and the like.
[0043] FIG. 5 illustrates a flow chart representing the steps involved in a method (300) for automating conversion of transactions in accordance with an embodiment of the present disclosure. The method (300) includes receiving a sales order comprising a plurality of items from a first user wherein the first user is a customer who manually enters the sales order to a first user login book upon selecting a second user from a database in step 310. The first user and the second user participate in a transaction. Further, the plurality of items comprises at least one of the quantity required, cost of the plurality of items, and discount for the plurality of items.
In one embodiment, the database comprises a second user information wherein the second user information comprises at least one of the phone number and electronic mail address.
[0044] The method (300) also includes copying automatically the plurality of items from a first-user login book to a second-user login book thereby creating a purchase order in the second-user login book wherein the second-user login book corresponds to the second user in step 320. The plurality of items in the first user-login book and the second-user login book have different item identification numbers.
[0045] In a specific embodiment, the artificial intelligence algorithms are used to copy the plurality of items from the first user login book to the second user login book.
[0046] Further, the method (300) includes mapping the plurality of items in the first-user login book and the plurality of items in the second-user login book based on a master identification number in step 330. The master identification number for the plurality of items in the first-user login book and the second user-login book is same.
[0047] Further, the method (300) also includes displaying the purchase order to the second user in the second user login book in step 340.
[0048] Furthermore, the method (300) includes generating a notification to the second user to approve the purchase order added to the second-user login book in step 350. Typically, the approval of the purchase order may depend on the second user. The user has the option to accept or reject the purchase order. Once the user accepts the approval, then the approval notification is sent to the first user.
[0049] In one embodiment, the second user receives an approval request to approve the plurality of items in the second-user login book.
[0050] In another embodiment, a decline to the first user upon declination of the plurality of items in the second user login book by the second user thereby purchase order disappears in the second user login book.
[0051] Furthermore, the method (300) also includes generating the notification to the second user upon modifying the plurality of items by the first user in the first-user login book in step 360. Typically, if the second user disagrees with the plurality of items in the purchase order, the second user may reject. The first user may then modify the plurality of items in the sales order. The purchase order is now modified and automatically sent modified purchased order to the second user.
[0052] It must be noted that the method described herein is applicable to any equivalent transactions of accounting for instance, Sales and Purchase, Invoices and Bills, Sales Return and Purchase Return, Credit Memo and Debit Memo, Vendor Payment and Customer Receipt and the like.
[0053] Various embodiments of the system and method for automating conversion of transactions as described above. The data transfer module automatically copies the plurality of items from a first user login book to a second user login book thereby reducing manual errors. The mapping module maps the plurality of items in the first user login book and the plurality of items in the second user login book based on identification number thereby reducing repeated plurality of items. The notification module generates a notification to the second user upon modifying the plurality of items thereby the second user need not check if the purchase order is received.
[0054] The techniques described in this disclosure may be implemented, at least in part, in hardware, software, firmware, or any combination thereof. For example, various aspects of the described techniques may be implemented within one or more processors, including one or more microprocessors, digital signal processors (DSPs), application-specific integrated circuits (ASICs), field-programmable gate arrays (FPGAs), or any other equivalent integrated or discrete logic circuitry, as well as any combinations of such components. The term “processor” or “processing subsystem” may generally refer to any of the foregoing logic circuitry, alone or in combination with other logic circuitry, or any other equivalent circuitry. A control unit including hardware may also perform one or more of the techniques of this disclosure.
[0055] Such hardware, software, and firmware may be implemented within the same device or within separate devices to support the various techniques described in this disclosure. In addition, any of the described units, modules, or components may be implemented together or separately as discrete but interoperable logic devices. Depiction of different features as modules or units is intended to highlight different functional aspects and does not necessarily imply that such modules or units must be realized by separate hardware, firmware, or software components. Rather, functionality associated with one or more modules or units may be performed by separate hardware, firmware, or software components, or integrated within common or separate hardware, firmware, or software components.
[0056] It will be understood by those skilled in the art that the foregoing general description and the following detailed description are exemplary and explanatory of the disclosure and are not intended to be restrictive thereof.
[0057] While specific language has been used to describe the disclosure, any limitations arising on account of the same are not intended. As would be apparent to a person skilled in the art, various working modifications may be made to the method in order to implement the inventive concept as taught herein.
[0058] The figures and the foregoing description give examples of embodiments. Those skilled in the art will appreciate that one or more of the described elements may well be combined into a single functional element. Alternatively, certain elements may be split into multiple functional elements. Elements from one embodiment may be added to another embodiment. For example, the order of processes described herein may be changed and are not limited to the manner described herein. Moreover, the actions of any flow diagram need not be implemented in the order shown; nor do all of the acts need to be necessarily performed. Also, those acts that are not dependent on other acts may be performed in parallel with the other acts. The scope of embodiments is by no means limited by these specific examples.
, Claims:1. A system (100) for automating conversion of accounting transactions:

a processing subsystem (105) hosted on a server (108), wherein the processing subsystem is configured to execute on a network (120) to control bidirectional communications among a plurality of modules comprising:
a receiving module (120) configured to receive a sales order comprising a plurality of items from a first user wherein the first user is a customer who manually enters the sales order to a first user login book upon selecting a second user from a database;
a data transfer module (130) operatively coupled to the receiving module (120) configured to automatically copy the plurality of items from a first-user login book to a second-user login book thereby creating a purchase order in the second-user login book wherein the second-user login book corresponds to the second user;
a mapping module (140) operatively coupled to the data transfer module (130) configured to map the plurality of items in the first-user login book and the plurality of items in the second-user login book based on a master identification number;
a display module (150) operatively coupled to the mapping module (140) configured to display the purchase order to the second user in the second user login book;
a notification module (160) configured to:
generate a notification to the second user to approve the purchase order added to the second-user login book; and
generate the notification to the second user upon modifying the plurality of items by the first user in the first-user login book.

2. The system (100) as claimed in claim 1, wherein the second user receives an approval request to approve the plurality of items in the second-user login book.

3. The system (100) as claimed in claim 1, wherein the notification module (160) sends a decline to the first user upon declination of the plurality of items in the second user login book by the second user thereby purchase order disappears in the second user login book.

4. The system (100) as claimed in claim 1, wherein the database comprises a second user information wherein the second user information comprises at least one of the phone number and electronic mail address.

5. The system (100) as claimed in claim 1, wherein the plurality of items in the first user-login book and the second-user login book have different item identification numbers.

6. The system (100) as claimed in claim 1, wherein the master identification number for the plurality of items in the first-user login book and the second user-login book is same.

7. The system (100) as claimed in claim 1, wherein the plurality of items comprises at least one of the quantity required, cost of the plurality of items, and discount for the plurality of items.

8. The system (100) as claimed in claim 1, wherein the first user and the second user participate in a transaction.

9. The system (100) as claimed in claim 1, wherein the transaction is an accounting transaction.

10. A method (300) for automating conversion of accounting transactions:

receiving, by a receiving module of a processing subsystem, a sales order comprising a plurality of items from a first user wherein the first user is a customer who manually enters the sales order to a first user login book upon selecting a second user from a database; (310)

copying, by a data transfer module of the processing subsystem, automatically the plurality of items from a first-user login book to a second-user login book thereby creating a purchase order in the second-user login book wherein the second-user login book corresponds to the second user; (320)

mapping, by a mapping module of the processing subsystem, the plurality of items in the first-user login book and the plurality of items in the second-user login book based on a master identification number; (330)

displaying, by a display module of the processing subsystem, the purchase order to the second user in the second user login book; (340)

generating, by a notification module of the processing subsystem, a notification to the second user to approve the purchase order added to the second-user login book; (350) and

generating, by the notification module of the processing subsystem, the notification to the second user upon modifying the plurality of items by the first user in the first-user login book. (360)

Dated this 16th day of May 2023

Signature

Jinsu Abraham
Patent Agent (IN/PA-3267)
Agent for the Applicant