Cash application that applies itself
Invoices, lockbox and card payments, discounts, and write-offs: an AR system of record where every payment lands on the right invoice, in the right entity, in the right currency.
Your team touches every payment twice
Cash application at enterprise scale is rekeying, not accounting.
Payments arrive through lockboxes and card processors, invoices live in the ERP, and matching them is manual: short-pays, early-pay discounts, and cross-currency payments all land unapplied and wait for a human.
Card and lockbox payments are double-touched and rekeyed before they apply.
A USD payment against a CAD balance sits unapplied until someone does FX by hand.
Small-balance write-offs and early-pay discounts are policies in someone's head, not rules in the system.
Every correction and adjustment must be traceable for SOX, and reconstructing them is archaeology.
_PROOF/ A North American environmental services leader runs its AR system of record on Formance, from invoice to applied cash.
From invoice to applied cash
Billed, collected, applied, and cleared: one double-entry chain.
An invoice opens the receivable, the payment arrives through a lockbox or processor, application matches it to the invoice (discounts and tolerable short-pays posting as explicit rules), and the residual clears by policy, not by hand.
The primitives AR teams need
Built on the open-source Formance ledger.
Event-driven receivables, rule-based application, and native multi-currency, composed for enterprise order-to-cash.
Invoices, payments, and adjustments posted as double-entry events from your OMS and ERP; balances derived per customer, invoice, entity, and cost center.
roll-up any dimension
Lockbox and processor receipts matched to open invoices by rule: exact, partial, and short-pay scenarios post deterministically, no rekeying.
no double-touch
Read the Numscript docsEarly-pay discounts and small-balance tolerances declared as Numscript policies: applied consistently, approved by role, auditable forever.
policy, not habit
CAD and USD (or any pair) held natively per account; cross-currency application posts with an explicit conversion, never a mental FX step.
explicit FX legs
Order-to-cash, by design
Application is a rule, not a task
Payment applied, discount honored, residual written off: one transaction.
One Numscript transaction applies the lockbox payment to the invoice, honors the early-pay discount, and clears the residual within tolerance, every leg explicit and auditable.
Trusted by builders
“Formance enabled us to ship new lending products faster by providing a customizable foundation that let us reliably express the complexities of our flow of funds.”
Embedded finance · reconciliation across 14 countries
See customer story
“Formance is the foundation of our Financial OS, the open-source approach lets us retain control over this key component.”
Healthcare · Financial OS
“Formance helped us kick off our move into fintech, with robust infrastructure and intuitive developer tooling.”
Benefits · fintech infrastructure
Built for regulated money.
Enterprise controls, the certifications auditors ask for, and an immutable record, out of the box.
09:41:07Z AUDIT gateway POST /api/ledger/v2/main/transactions 200 sub:ops@acme.io
09:41:09Z LOG id:4093 NEW_TRANSACTION ledger:main
09:41:12Z LOG id:4094 SET_METADATA ledger:main
09:41:15Z LOG id:4095 REVERTED_TRANSACTION ledger:main
09:41:18Z AUDIT gateway GET /api/ledger/v2/main/logs 200 sub:audit@acme.io
Keep going
Everything you need to evaluate and build on Formance.
Enterprise AR, answered
01 / DOES FORMANCE CREATE THE INVOICES?
No: it is the AR system of record, not the billing application. Your OMS and billing systems emit events; the ledger records them in double-entry and derives every balance.
02 / HOW DO SHORT-PAYS AND TOLERANCES WORK?
Tolerances and dealer terms are declared rules: a payment within tolerance applies and the residual writes off automatically, with the policy and the posting both auditable.
03 / WHAT ABOUT CROSS-CURRENCY PAYMENTS?
A USD payment against a CAD invoice posts with an explicit conversion leg at a booked rate: applied immediately, no unapplied queue, both currencies exact.
04 / IS IT SOX-AUDITABLE?
Yes: every posting, correction, and write-off is immutable and hash-linked, with role-based approval upstream, so the audit trail is the record itself.
Close the books without touching the payments
See how Formance fits your order-to-cash: book a demo or start building.