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.
How should a business apply Commercial Invoice?
Reconcile it to the purchase order, packing list and shipment. Check descriptions, quantities, prices, currency, Incoterm, country of origin and required declarations.
What records support Commercial Invoice?
Keep the issued version, corrections, customs entry, payment reference and evidence supporting any valuation adjustment.
Commercial invoice sourcing record
| Area | What to record |
|---|---|
| Decision | Reconcile it to the purchase order, packing list and shipment. Check descriptions, quantities, prices, currency, Incoterm, country of origin and required declarations. |
| Evidence | Keep the issued version, corrections, customs entry, payment reference and evidence supporting any valuation adjustment. |
| Watch point | An inaccurate description or value can delay clearance and create duty, tax or enforcement exposure. |
What is a common Commercial Invoice mistake?
An inaccurate description or value can delay clearance and create duty, tax or enforcement exposure.
Trade finance connections
The commercial invoice is commonly reviewed in documentary collections, letters of credit and post-shipment finance.
