What Is A Commercial Invoice?
Commercial Invoice (Definition)
A commercial invoice is a document used in international shipping. It gives information about the product being sent, including:
- what the item is
- the seller and buyer
- the date and terms of the sale
- the quantity and weight
- the value of each individual item
- the total value of the package
- any insurance and shipping costs
Customs officials use commercial invoices to work out the value of the goods being traded. This is so they can work out tariffs, which are taxes imposed on imported goods.
More Accounting Terms
What Is Accounting Software?
What Is An Invoice?
What Is Financial Management?
What Are Payroll Records?
What Is A Tax Deduction?
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