![]() Proforma invoice is issued before the goods are shipped or the service is rendered. Most important is the timing when the invoices are issued. However, commercial invoice is a legally binding document serving as proof of sale and forming the basis for payment and potential legal disputes. It’s essentially a proposal that can be revised before the transaction occurs. In addition to the content, the proforma invoice is not legally binding. Harmonized System (HS) code for customs classification.The final agreed-upon price, which may or may not differ from the proforma estimate.Validity period (until which the offer is valid).Ĭommercial invoice contains all the information in a proforma invoice, plus:.Estimated shipping costs and insurance.Information about the seller and buyer.What Should Proforma Invoice vs Commercial Invoice Contain RELATED: A Guide to Final Invoice: Everything You Need to Know The proforma invoice helps set expectations, while the commercial invoice finalizes the financial details and serves as a basis for payment and customs clearance. ![]() While a proforma invoice serves as a preliminary estimate or quotation issued before the transaction, a commercial invoice is the official document generated after the completion of the sale. Customs Declaration: Commercial invoices are often required for customs clearance, providing details necessary for international shipments.Issued After Delivery: It is issued after the goods or services have been delivered or provided.Legally Binding: A commercial invoice is a legal document that represents an actual sale, and payment is expected based on the terms specified.Key Characteristics of Commercial Invoices: Unlike a proforma invoice, a commercial invoice is a legally binding document, and payment is expected based on the terms outlined. It includes detailed information about the transaction, such as the quantity and description of the items, the agreed-upon price, shipping terms, and payment details. Microsoft Dynamics GP / Microsoft Dynamics AXĪ commercial invoice, on the other hand, is the official document that is used for recording the actual sale of goods or services.
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