What is a Commercial Invoice?

If you are looking forward to ship goods across borders, it is important for you to issue a commercial invoice template. In fact, the commercial invoice is acting as the primary customs document. This document provides a lot of additional information when compared to a traditional invoice. As a result, they have become extremely popular among people who send out international shipments in today’s world.

Commercial Invoice Template

The specifications that must be included in a Commercial Invoice template depends based on the destination that you are planning to ship the goods. There are dedicated specifications for the countries and the people who send out the shipments from those countries tend to use them. It is also possible for you to create your own personalized Commercial Invoice. However, you need to make sure that all the required fields  specifications are available on the template. Then you will not have to face any hassle. when using commercial invoice software make sure you have this required field. Commercial Invoice Format vs Other Invoices

• Standard Invoice – Standard invoice is the basic form of the invoice, which contains all the critical information about the seller and the buyer. It has an invoice number as well. On the other hand, it contains item wise descriptions for the services, products, payment terms prices and due dates.
• Progressive invoice – Progressive invoice is used within the construction industry. It contains details about the long term projects, to let the customers know the amount that they owe.
• Timesheets – Timesheets are used by independent service providers, such as tutors, lawyers and contractors. They are charging for their service on an hourly basis.
• Utility invoice – A utility invoice is being used by the utility companies, which provide sewage, water, electricity and other related services. These invoices contain information about the billing period. In addition, they can also find details about previously submitted payments. The past due balances are mentioned as well.
• Recurring invoices – If you want to generate an invoice for the same customer in every single month, you should go ahead with a recurring invoice. When you rent or lease equipment to the customers, you will be facing this invoice type.
• Pro-forma invoice – Pro-forma invoice is similar to a quote or an estimate. It can provide the buyer with a basic understanding about the cost associated with service or product that they purchase. The numbers that are used in these invoices are not permanent and they are not usually used for records.
• Purchase order – A purchase order can contain information that is similar to what you can find in an invoice. However, they are issued from a buyer, as an offer to a seller.

Importance of the commercial Invoice

A Commercial Invoice can play a major role in many different situations. As mentioned earlier, it is serving as a tax document in a variety of instances. Before the goods are cleared, it is important to refer to the this important document. In case if there an issue with the shipment, insurance can be claimed. Even during that process, the Commercial Invoice software plays a major role. Without the this required form, you will not be able to claim insurance for your package. With Linbis Logistics software shipping is mo=uch more easier. Our logistics software is used by exporter, importers, shippers, freight forwarders and many other professional that needs to print forms to ship. The buyers use it in order to release the funds from the bank directly to the seller. Likewise, a bank would closely examine the Commercial Invoice format, before it will go ahead and reimburse the funds to a person under a documentary collection or letter of credit. According to the United States Export Regulations, it is extremely important for you to have a Commercial Invoice format when sending out a shipment. That’s because the exporters will need to keep it for a period of more than five years from the date of shipment. If there are any issues, this documents will play a major role. Likewise, the exporters will also be able to use it to support risk associated with insurance claims and foreign credit.

-What is the commercial invoice format used for.

The Commercial Invoices are being used for a variety of purposes. The main purpose out of them is to be used in custom clearing. On the other hand, it has been identified that are widely being used when claiming insurance for the documents. In general, Commercial Invoice acts as a proof of shipment or delivery of a product or a service.

-Who provide the commercial Invoice format?

The Commercial Invoice format is usually provided by a person who sends out goods as a shipment. It has become important to send all the requirement information in the form of a document. That’s where they use it along with the shipments that they make.

-Is there any Commercial Invoice Template required to used

If you are a person who is exporting a lot of goods, you come across the need to use a Commercial Invoice on a regular basis. That’s why it is recommended for you to go ahead and create a template for the Commercial Invoice as well. This will help you to save a lot of time and avoid frustration. You will be able to adjust the details for each and every shipment quickly with the assistance that you get from the buyer. There is no rule for you to use a Commercial Invoice template. However, you are strongly encouraged to use a template as it can provide a great help to you with making your life easy. Then you will be able to make sure that you reduce the chances of making mistakes as well. This can provide you with peace of mind in the long run and you will not have to worry about anything.