BigPatents India

There is provided a method and system for improved travel transaction billing and reconciling that permits a financial services provider to generate a centralized, detailed and customized billing statement based on travel itinerary data and information received from a travel agent or agency for travel transactions booked during a billing period, which can permit expedited generation and submission of the billing statement at the end of a billing period to a responsible client for faster payment of billed transactions. The financial services provider does not wait for receipt of travel supplier charges before generating the billing statement for travel transactions based on received travel agent records. The financial services provider can subsequently reconcile, unique reference indicator, the billing statement travel transactions or travel itinerary data against travel supplier charges received from the travel supplier for the booked travel transactions.