Automated sales tax payment system
Described are technologies relating to transaction processing. In general, one aspect of the subject matter described herein can be embodied in methods that include the actions of calculating, in relation to a transaction, one or more tax amounts associated with a price of the transaction, obtaining, in relation to a payment source, an approval for at least the price of the transaction and the one or more tax amounts, thereby defining an approved sales transaction, and, subsequent to obtaining the approval, (a) settling at least a revenue portion of one or more approved sales transactions in favor of a first account, and (b) settling the one or more tax amounts in favor of a second account that is different than the first account.
1. A transaction processing system suitable for processing transactions, the system comprising:
a processor;
a memory;
a separator module accessible over a network and comprising code that when executed by the processor, configures the processor to receive a sales file over the network concerning one or more transactions provided from a merchant machine and to separate corresponding tax and revenue portions associated with each of the one or more transactions in the sales file, the separator module including:
a revenue settlement module operative to configure the processor to provide a first data set to a transaction processor, the first data set identifying a revenue portion of each of the one or more of the transactions and designated to a first account associated with the merchant, and
a tax settlement module operative to configure the processor to provide a second data set to the transaction processor, the second data set identifying a tax portion of each of the one or more of the transactions and designated to a second account being different than the first account; and
wherein the transaction processor receives and processes the first data set and the second data set to settle the one or more transactions by directing the revenue portion identified by the first data set to the first account and to directing the tax portion identified by the second data set to the second account free of co-mingling.
2. The transaction processing system of 1 , wherein the separator module is a hosted solution that merchants can subscribe to.
3. The transaction processing system of claim 1 , wherein the revenue settlement module settles the revenue portion of plural transactions of the one or more transactions simultaneously in a batch.
4. The transaction processing system of claim 1 , wherein the tax settlement module settles the tax portion of plural transactions of the one or more transactions simultaneously in a batch.
5. The transaction processing system of claim 1 , further comprising a database in communication with the tax settlement module, wherein the sales file received over the network includes data from the database comprising: an identifier of the second account; an identifier of the merchant that caused the sales file to be received; and a date for each respective one of the one or more transactions.
6. The transaction processing system of claim 1 , wherein the separator module configures the processor to remap one or more fields in the sales file received over the network such that a total-field within the sales file comprises a sum of an amount column and a tip column for the received one or more transactions.
7. The transaction processing system of claim 1 , the separator module configures the processor to remap one or more fields in the sales file received over the network such that a total-field within the sales file comprises a sum of a tax column for the received one or more transactions.
8. The transaction processing system of claim 1 , wherein the separator module configures the processor to recalculate a total field-within the sales file received over the network such that the total-field comprises a sum of an amount column and a tip column for the received one or more transactions, and omits from recalculation a tax column for the one or more transactions.
9. The transaction processing system of claim 1 , wherein the separator module configures the processor to recalculate a total-field within the sales file received over the network such that the total-field comprises a sum of a tax column for the one or more transactions, and omits from the recalculation an amount column and a tip column for the one or more transactions.
10. The transaction processing system of claim 1 , wherein the second account is associated with a taxing authority, and wherein the tax settlement module is further operative to configure the processor to effect the settlement on an automated basis.
11. The transaction processing system of claim 1 , wherein the revenue settlement module settles the revenue portion associated with each of the one or more transactions to the second account on a per-transaction basis.
12. The transaction processing system of claim 1 , wherein the tax settlement module settles the tax associated with each of the one or more transactions to the second account on a per-transaction basis.