Method and system of accounting for transaction costs and currency

Abstract

The invention is a method of accounting for a transaction cost and currency exchange relative to customer accounts in a hybrid mail system. The method begins by establishing a data center, a first remote data entry point, and a second remote data entry point which has mailpiece production means. The first remote data entry point, the second remote data entry point, and/or the data center may be co-located. A set of parameters which define a mailpiece, a unit cost where known for each parameter, a destination for the mailpiece, and a choice of debiting or crediting a customer account are determined at the first remote data entry point. The parameters and known costs point are transmitted to the data center and to the second remote data entry point. The mailpiece is produced at the second remote data entry point and a unit cost for each of the mailpiece production and delivery elements is calculated at the second remote data entry point and transmitted to the data center. A total unit cost of the transaction is calculated at the data center and then converted to a transaction cost by multiplying the total unit cost by a currency conversion factor. The transaction cost is then entered into customer account database, a transaction database, and transmitted to the first remote data entry point; additionally, a billing statement is generated by the data center in respect of the transaction and a similar statement can be generated by the first remote data entry point for the benefit of the transaction initiator.