Commercial Invoice
Definition
A document used in international trade stating the goods, their value and the terms of sale between exporter and importer. Customs authorities rely on it to assess duties and clear shipments.
Related Terms in Invoicing & Sales
Timesheet Invoice
An invoice billed from recorded hours worked, common for consultants, agencies and professional services. It ties billable time and rates directly to the amount charged.
Milestone Billing
Invoicing a customer in stages as defined project milestones are completed, rather than all at once. It aligns cash flow with delivery on long projects and is common in construction and software.
Progress Billing
Billing a long-running contract incrementally based on the percentage of work completed. It keeps cash flowing during a project and is closely tied to percentage-of-completion revenue recognition.
Retainer Invoice
An invoice for an advance payment a client makes to secure future services, drawn down as work is performed. The retainer is a liability until the services are delivered and earned.
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