# Vessel Finance and Payment Tracking Software | Faromo

Canonical: https://faromo.com/en/products/finance-and-payment-tracking
Language: en

Track receivables, payables, invoices, due dates, collections and payments by vessel, voyage, supplier and cost center.

Modified: 2026-08-16

Reviewed: 2026-08-16

Review invoices alongside the relevant vessel, voyage or purchase. Track upcoming due dates and payment status.

Shipping operations generate multiple currencies, supplier payments, freight receivables, insurance installments and port expenses in the same period. A due-date list without operational context hides why a payment matters.

Faromo links each invoice to the relevant vessel, voyage, request, order and counterparty. Finance tracks due dates and status while management sees cash commitments by vessel and operation.

## Receivable invoices

Track freight and other receivables by counterparty, due date, currency and collection status.

## Payable invoices

Link supplier and service invoices to purchase orders, receipts and approvals.

## Due-date calendar

See upcoming, due-today and overdue movements in one calendar.

## Partial payment and collection

Keep invoice balance current across multiple payments or collections.

## Multi-currency

Preserve transaction currency and provide a comparable reporting-currency view.

## Operational linkage

Link cost to vessel, voyage, procurement, insurance or cost center.

## Workflow

1. Link the source: Request, order, voyage or contract links to the finance record.
2. Verify the invoice: Amount, currency, counterparty, tax and due date are checked.
3. Track due date and approval: Pending approvals and upcoming commitments become visible.
4. Close payment result: Payment or collection updates balance and operational cost.

## Is Faromo an accounting system?

Faromo manages operational finance and payment tracking. It is designed to connect operational records with accounting rather than replace the general ledger.

## Can partial payments be recorded?

Yes. Multiple payments or collections can link to one invoice, updating the remaining balance and status.

## Can a supplier invoice be compared with the order?

Request, purchase order, receipt and invoice amounts can be viewed in one chain for variance review.

## Can freight receivables be tracked?

A receivable invoice can be linked to counterparty, fixture or voyage, due date and collection records.

## Sources

- [FuelEU Maritime](https://transport.ec.europa.eu/transport-modes/maritime/decarbonising-maritime-transport-fueleu-maritime_en)
- [Reducing emissions from the shipping sector](https://climate.ec.europa.eu/areas-action/transport-decarbonisation/reducing-emissions-shipping-sector_en)