What is a commercial invoice?

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.

 

Related terms:
What is an invoice?
How do I make an invoice?
How do I send an invoice?

Related Xero feature:
Get paid faster with online invoicing software

Related Small Business Guide:
How to nail invoice management

Accounting Terms

Accounting terms and how-tos for beginners. Let us walk you through all the basics that you need know.

What is a commercial invoice?

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.

 

Related terms:
What is an invoice?
How do I make an invoice?
How do I send an invoice?

Related Xero feature:
Get paid faster with online invoicing software

Related Small Business Guide:
How to nail invoice management

Showing 34 more questions for all topics