The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Aug. 07, 2012
Filed:
Mar. 15, 2001
Cheng Zhou, Austin, TX (US);
Rangarajan Venkastesan, Austin, TX (US);
Joshua Toub, Austin, TX (US);
Versata Development Group, Inc., Austin, TX (US);
Abstract
A method and apparatus for consolidating net-pay and debt management of a sales representative or sales team is presented. A party associated with the sales representatives may obtain debts and specify rules on payment of those debts which can be tracked back to the domain (e.g., agreements, rules, sale item, etc.). The ledger items created for that distributor by the commission engine are typically processed to distribute payments into accounts specified by the distributor and to pay debts obtained by the distributor. Available money may be split into various methods of payments for a distributor. These splits can be tracked by adding various constraints (related to the financial industries business model). The system allows the user to model the payment rule/constraints. Payment splits support pay-outs to alternate payee from funds of a distributor. The distributor may specify deduction rules which can be applied to the distributors earning to facilitate deductions for items such as taxes, mutual funds etc. The system offers the flexibility to choose the method of payment for a distributor for each issued debt. Debt repayment rules are introduced so that debts can be repaid from available earnings of a distributor. Debt collection mechanisms for defaulters are also provided.