This article outlines when and what invoices you will receive based on the specific services you have, including your subscription service fees and benefit funding if you have the Forma Card (for post-tax accounts), Forma Store, and/or Direct Deposit (through Stripe).
Forma emails subscription service invoices within one business day of the subscription start date; payment is due in accordance with your payment terms. Forma emails invoices for benefit funding (including Forma Card, Forma Store, and Direct Deposit) by the 5th business day of each month; payment is due on receipt.
All invoices are in USD and billed to a single entity. Please note that for subscription invoices, the rate is based on the contract. The customer team is responsible for any exchange rate fluctuations. For Forma Store transactions, amounts are converted to USD using the exchange rate from the last day of the month. Forma Card and Direct Deposit are US-only features, so no currency conversion is required for those spend methods.
Forma only sends invoices to and receives payments from the contracted party. Payment can be made by wire transfer or ACH. Forma does not accept checks or credit cards as a form of payment.
Platform fees and invoice frequency are set on the order form and can only be changed with an amendment. Baseline Count is included on the Order Form. Overage fees (when you have more employees/participants in a month than your contracted Baseline Count) are billed within the first five business days of each month, when applicable.
Copies of your invoices can be requested by emailing Forma's accounts receivable team at ar@joinforma.com.
Invoicing guidelines
Your Forma invoice schedule and details depend on your specific services:
Subscription service fees paid annually, as outlined in your contract with:
- No Forma Card, Forma Store, or Direct Deposit: You'll receive one invoice on the first business day of your subscription period.
- Forma Card Only: You'll receive one invoice for services on the first business day of the subscription period and a separate monthly invoice for Forma Card spend within the first five business days of the following month.
- Forma Store Only: You'll receive one invoice for services on the first business day of the subscription period and a separate monthly invoice for Forma Store spend within the first five business days of the following month.
- Direct Deposit Only: You'll receive one invoice for services on the first business day of the subscription period. Forma will not send invoices for Direct Deposit reimbursements. For more information see "Deposit account auto top-up process" article.
- Forma Card and Forma Store: You'll receive one invoice for services on the first business day of the subscription period and a separate monthly invoice for Forma Card and Forma Store spend within the first five business days of the following month. Forma Store purchases will be invoiced as a single line item.
- Forma Card and Direct Deposit: You'll receive one invoice for services on the first business day of the subscription period and a separate monthly invoice for Forma Card spend and Direct Deposit reimbursements.
- Forma Store and Direct Deposit: You'll receive one invoice for services on the first business day of the subscription period and a separate monthly invoice for Forma Store spend. Forma will not send invoices for Direct Deposit reimbursements. For more information see "Deposit account auto top-up process" article.
- Forma Card, Forma Store, and Direct Deposit: You'll receive one invoice for services on the first business day of the subscription period and a separate monthly invoice for Forma Card, Direct Deposit, and Forma Store spend within the first five business days of the following month. Forma Store purchases will be invoiced as a single line item.
Subscription service fees paid quarterly, as outlined in your contract with:
- No Forma Card, Forma Store, or Direct Deposit: You'll receive one invoice on the first business day of each quarter.
- Forma Card Only: You'll receive one invoice for services on the first business day of each quarter and a separate monthly invoice for Forma Card spend within the first five business days of the following month.
- Forma Store Only: You'll receive one invoice for services on the first business day of each quarter and a separate monthly invoice for Forma Store spend within the first five business days of the following month. Forma Store purchases will be invoiced as a single line item.
- Direct Deposit Only: You'll receive one invoice for services on the first business day of each quarter. Forma will not send invoices for Direct Deposit reimbursements. For more information see "Deposit account auto top-up process" article.
- Forma Card and Forma Store: You'll receive one invoice for services on the first business day of each quarter and a separate monthly invoice for Forma Card and Forma Store spend within the first five business days of the following month. Forma Store purchases will be invoiced as a single line item.
- Forma Card and Direct Deposit: You'll receive one invoice for services on the first business day of the subscription period each quarter and a separate monthly invoice for Forma Card spend and Direct Deposit reimbursements.
- Forma Store and Direct Deposit: You'll receive one invoice for services on the first business day of the subscription period each quarter and a separate monthly invoice for Forma Card spend. Forma will not send invoices for Direct Deposit reimbursements. For more information see "Deposit account auto top-up process" article.
- Forma Card, Forma Store, and Direct Deposit: You'll receive one invoice for services on the first business day of each quarter and a separate monthly invoice for Forma Card, Direct Deposit, and Forma Store spend within the first five business days of the following month. Forma Store purchases will be invoiced as a single line item.
Subscription service fees paid monthly, as outlined in your contract with:
- No Forma Card, Forma Store, or Direct Deposit: You'll receive one invoice on the first business day of each month.
- Forma Card Only: You'll receive one invoice for services on the first business day of each month and a separate monthly invoice for Forma Card spend within the first five business days of the following month.
- Forma Store Only: You'll receive one invoice for services on the first business day of each month and a separate monthly invoice for Forma Store spend within the first five business days of the following month. Forma Store purchases will be invoiced as a single line item.
- Direct Deposit Only: You'll receive one invoice for services on the first business day of each month. Forma will not send invoices for Direct Deposit reimbursements. For more information see "Deposit account auto top-up process" article.
- Forma Card and Forma Store: You'll receive one invoice for services on the first business day of each month and a separate monthly invoice for Forma Card and Forma Store spend within the first five business days of the following month. Forma Store purchases will be invoiced as a single line item.
- Forma Card and Direct Deposit: You'll receive one invoice for services on the first business day of the subscription period each month and a separate monthly invoice for Forma Card spend and Direct Deposit reimbursements.
- Forma Store and Direct Deposit: You'll receive one invoice for services on the first business day of the subscription period each month and a separate monthly invoice for Forma Card spend. Forma will not send invoices for Direct Deposit reimbursements. For more information see "Deposit account auto top-up process" article.
- Forma Card, Forma Store, and Direct Deposit: You'll receive one invoice for services on the first business day of each month and a separate monthly invoice for Forma Card, Direct Deposit, and Forma Store spend within the first five business days of the following month. Forma Store purchases will be invoiced as a single line item.
Auto Debit Invoicing
Forma now offers select customers the option to use auto debit to pay for spending activity across the Forma Card, Forma Store, and LSA direct deposit (if using Stripe). This feature helps reduce the need for manual invoices and speeds up processing for finance teams. For customers enrolled in auto debit, monthly statements and related reports are sent by the 7th business day of the month, and payments are automatically debited by the 10th business day of the month. Please note that auto debit does not apply to regular subscription fees at this time. If you're interested in enabling this option, reach out to your Customer Success Manager (CSM) to learn more.
Important Notes
- Invoices cannot be itemized by country or legal entity.
- Forma does not establish integrations with external or third-party payment vendors or upload invoices to external systems.
- Bank Confirmation Letter and W9 are hyperlinked on each invoice
- If the dates on your monthly or quarterly invoice are incorrect (for example, it shows 1/1 - 12/31), please contact your Customer Success contact or Forma's Accounts Receivable team for assistance.
- The Transaction Report, found in Forma Admin > Reports, provides details on Forma Store and Forma Card transactions. Forma Store transaction amounts are shown in local currency on this report, while invoices are displayed in USD.
Questions About Your Invoice
If you have any questions or concerns regarding your invoice, please reach out to either your Customer Success contact or Forma's Accounts Receivable Team.
- Accounts Receivable
- ar@joinforma.com
- 415-754-3278
Invoice examples
Subscription service fees
Benefit Funding
Note: Invoices for covered benefits will not provide a breakdown of Forma Card usage, Forma Store purchases, and Stripe Direct Deposit reimbursements for individual accounts. Only the combined total across all Forma accounts will be displayed.