![]() ![]() Commercial invoice - a customs declaration form used in international trade that describes the parties involved in the shipping transaction, the goods being transported, and the value of the goods.Credit memo - If the buyer returns the goods, the seller usually issues a credit memo for the same or lower amount than the invoice, and then refunds the money to the buyer, or the buyer can apply that credit memo to another invoice.In a few cases, a pro forma invoice is issued to request advance payments from the buyer, either to allow production to start or for security of the goods produced. A pro forma invoice is not issued by the seller until the seller and buyer have agreed to the terms of the order. It is not an actual invoice, and thus the seller does not record a pro forma invoice as an account receivable and the buyer does not record a pro forma invoice as an account payable. It is often used to declare value for customs. Pro forma invoice – In foreign trade, a pro forma invoice is a document that states a commitment from the seller to provide specified goods to the buyer at specific prices.Recommendations about invoices used in international trade are also provided by the UNECE Committee on Trade, which involves a more detailed description of the logistics aspect of merchandise and, therefore may be convenient for international logistics and customs procedures. In Canada, the registration number for GST purposes must be furnished for all supplies over $30 made by a registered supplier in order to claim input tax credits. Such an invoice is called a pro-forma invoice, and is not an adequate substitute for a full VAT invoice for VAT-registered customers. In the UK, this number may be omitted on invoices if the words "this is not a VAT invoice" are present on the invoice. The European Union requires a VAT (value-added tax) identification number for official VAT invoices, which all VAT-registered businesses are required to issue to their customers. In countries where wire transfer is the preferred method of settling debts, the printed bill will contain the bank account number of the creditor and usually a reference code to be passed along with the transaction identifying the payer. ![]()
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