A commercial invoice is the seller’s document stating the goods sold, parties, value and transaction details used for payment and customs purposes. Customs requirements vary by country and product.
The operating decision
Reconcile it to the purchase order, packing list and shipment. Check descriptions, quantities, prices, currency, Incoterm, country of origin and required declarations.
Evidence to retain
Keep the issued version, corrections, customs entry, payment reference and evidence supporting any valuation adjustment.
Commercial Invoice: what the sourcing record should showAreaWhat to recordDecisionReconcile it to the purchase order, packing list and shipment. Check descriptions, quantities, prices, currency, Incoterm, country of origin and required declarations.EvidenceKeep the issued version, corrections, customs entry, payment reference and evidence supporting any valuation adjustment.Watch pointAn inaccurate description or value can delay clearance and create duty, tax or enforcement exposure.
A common sourcing mistake
An inaccurate description or value can delay clearance and create duty, tax or enforcement exposure.
Related definitions: invoice, packing list, landed cost.
