It is because of this disparity that a Commercial Invoice is typically issued after the goods have been delivered or shipped to ensure it accurately represents the final number of goods shipped. This difference can be due to many reasons, however the most common is that a supplier is having manufacturing issues or delays or that the supplier did not correctly plan how many products would fit inside shipping containers. This is because the quantity of goods ordered (from the Proforma Invoice) can be different to the actual quantity of goods that have been shipped (on the Commercial Invoice). It is commonly used by customs authorities to assess applicable taxes & duties. The 2 documents are essentially the same, however, there can sometimes be a difference in the quantity of goods stated on the Commercial Invoice to what is on the Proforma Invoice. The Commercial Invoice is one of the most important documents in trade, detailing things such as the description and value of the goods being shipped as well as shipper information. What is the difference between a Proforma Invoice and a Commercial Invoice? You'll know when recipients have viewed your invoice and recipients can even pay the invoice online via credit card for convenience.Ĭreate in IncoDocs Your questions, answered. The company processes its customer orders through various modes of payment and employs delivery receipts to make legal proof of safe shipment of goods or products to the customer or client.Download or share invoices from IncoDocs in 1-click. The buyer signs the delivery receipt after they have received and taken possession of their purchase order.įor Example, An online store sells goods internationally. Thus, the seller will use the official receipts to record and track his/her payment.ĭelivery Receipt: Delivery receipts serve as proof of the shipment of ordered goods to a predefined destination. This is one of the two legal receipts that the Bureau of Internal Revenue (BIR) accepts.įor Example, A developer is hired by a software house to provide the services of web development. Official Receipt: An official receipt is used to record the sales of services only. The wholesaler, in turn, provides the customer with a sales receipt to facilitate easy tracking of their purchase orders. Seller generates the sales receipt including all the necessary details of purchase made by the client.įor Example, a restaurant purchases groceries from a wholesale grocery store. Sales Receipt: A sales receipt is a valid statement, used as proof for the goods or products sold. The contractor made the purchase for the store and recorded the transaction to claim the money spent by him. It gives evidence of purchase when the employee reclaims the money from the business or an organization.įor Example, A store needs the supply of a popular product. The transactions are done in cash payment and thus the seller provides cash receipt to the customers with the proof of transfer of cash against the ordered goods.Įxpense Receipt: An expense receipt is used to record the monthly, quarterly, or annual expenditures made for the business by an employee. The seller issues the original copy of the cash receipt to the customer and keeps the other copy to use for recordkeeping.įor Example, A retail store offers stationery items and supplies. ✔ Use to upgrade and organize your receipt making process.Ĭash Receipt: A cash receipt serves as the acknowledgment of the receiving of the cash amount & is used when a transaction is done only in a cash payment. ✔ Reduces the chances of tax obligations and determines the accurate tax payable by excluding taxable & non-taxable income. ✔ Portrays the seller as transparent and credible. ✔ Easy-to-track transactions for both buyer and seller while enabling ownership for their receiving and payments respectively. Our invoice templates are available in Word and Excel formats for your specific industry. Download and customize free invoice templates. ✔ Serves as a cross-checking source for bookkeeping which assists in determining actual deductions and accurate net profit. Create the perfect invoice for your business with our Online Invoice Generator. ✔ Ensures the creation of accurate annual financial reports. ✔ Legal protection to the client & vendor for business dealings. ✔ Avoid any dispute leveraging receipts as legal documentation. ✔ Serves as a valid warranty claim for sale and purchase returns. ✔ Serves as a record-keeping tool for businesses to monitor their progress and creates transparent annual financial reports. Automating this process by using an online receipt generator helps you to stay organized & saves time. Why Do You Need a Receipt for Your Businessįor small & large businesses a receipt comes in handy for keeping accurate records, tracking expenses, & settling sales transactions professionally.
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