You can think of proforma invoices as a kind of quote they’re often called dummy invoices, and they’re prepared by the seller (or exporter) to provide precise details of: Pro forma is Latin for “for the sake of form” or “as a matter of form.” While you probably receive (or send) invoices after a sale is complete, proforma invoices are created and set before a sale. They contain much of the same information, but serve different purposes. Standard invoices (also called commercial invoices or simply invoices) are distinct from what is known as a proforma invoice. It’s important to avoid confusing or conflating the two, since only standard invoices are legal documents. Invoices are issued by the vendor at the request of the purchaser, and contain a full description of the quantity and quality of goods sold, their prices, terms of sale, etc. Generally speaking, an “invoice” is simply a detailed document listing goods or materials being purchased and shipped. But in order to successfully run and grow a business, anyone who processes invoices-from small business owners doing their own books to accounting professionals working for major conglomerates-must understand the different types of invoices and how they are used. While the particulars can be complex, processing invoices is, in the abstract, one of the most basic business processes.
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