System and method for managing vendors, tax allocation and posting journal entries

摘要

The present invention consists of an improved system and method for tracking expenses and billing them to a client, matter, task, activity, client group or phase and assessing goods and services purchased to these categories on a line by line basis. The system also allows an employee to place an order by selecting from a list of preapproved vendors and checking both vendor ratings and item ratings prior to purchase. Once the items are received, the bill of lading is reviewed for receipt of the proper items in the proper quantities. This information may be scanned, texted or emailed into the system to generate additional in house reviews for the system. Information on the items purchased is allocated across one or more ledgers on a line by line basis and may be entered into one or more of the following categories: Client ID, Task, Activity, Phase, Matter and Client Group.

主权项

1. An Improved System for Managing Vendors and Vendor payments comprising; creating an online account for a Company employee with a password and ID, the employee entering the System and using a CPU and data storage to access the System; the Employee entering a database of pre selected Products and Services which have been pre approved by the Company, the Employee selecting two or more items and comparing their features and attributes and price and making a selection of one or more items for purchase online, the System generating a Request for Purchase and entering it into the System for approval by one or more entities approving Purchase requests, upon approval the System then generating a Purchase Invoice displaying an Invoice Number and the System then electronically contacting the Vendor to purchase the Products and Services listed in the Purchase Invoice wherein the System is able to compare Products and Services and create Purchase Invoices in two or more currencies.