Invoice: What Is It

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An invoice is one of the principal papers for customs approval. It is essential to know the rules for filling out the report for both the sender and the receiver. In case of errors in the content and execution of the report, difficulties may arise in the transportation of goods.

What is an invoice in simple words

An invoice is a paper used for worldwide shipments. It is filled in by the sender and transferred to the recipient when the assets are sent. If the report is missing, the ship organization will refuse to transport the goods. There are two types: Commercial – to pay for assets; after the approval of which a sales invoice is drawn up. The invoice serves as a responsibility for the user to make payment for the assets according to the data from the report. It is drawn up by the seller for the transportation of each batch of products. When working only within the nation, the invoice is not filled. In this case, its analog is used – an invoice for payment. That is why invoicing software for small businesses is so great.

The basis for filling out an invoice

The main reason for filling out is the shipping of goods. Invoice confirms the fact of shipment of inventory items, thereby obliging the importer to pay following the duration of the document.

The purposes of the invoice are considered to be the fixation of:

• List of goods;
• The names of the exported goods;
• The number of exported goods;
• Price.

The exporter may indicate the resulting data in the report:

• Date of filling and document amount;
• Exporter’s features;
• Importer’s specifications;
• Time of conclusion of the contract and its number;
• Title of assets and information of certain types;
• TN VED cargo code;
• The cost of all goods;
• Invoice amount;
• Information about the producing country, if the exporting country is different, then its data must also be indicated;
• Country of the importer;
• The purpose of transportation of products;
• VAT is only mentioned when the tax is not zero.

Rules for describing goods in the invoice

The time for passing the customs control, and hence the time of shipment, depends on how complete the knowledge about the goods will be. The following must be shown:

• the name of the product;
• the scope of its application;
• serial and tariff number, if available;
• material from which the product is made;
• quantity of goods; packaging of goods;
• the authority;
• the number of places, volume or area occupied by the goods;
• units of measure of assets;
• total cost of goods;
• the total value of the goods.

Watch. It is obligatory to indicate the value of each component of the product: case, movable elements, natural stones.

Fabric products:

• Percentage of fabric;
• Thread weave type;
• Purpose (male, female, or child);
• If it is a sample, then the mark “mutilated samples. not for resale “.

Biological samples:

• The origin of the sample, to whom it belongs (animal, human);
• Transport reason (experiment, test);
• Transportation method (freezing, use of dry ice);
• Shelf life of samples;
• A copy of the export permit and its sign must be attached to the invoice.
• The sales invoice is filled in on an A4 sheet, preferably using the exporter’s letterhead;
• It can be filled in in printed form or by hand;
• Certification by the sender’s signature is obligatory;
• Printing is optional as, since 2016, legal entities may not use it;
• The invoice amounts are indicated in the currency specified in the agreement, or with an indication of the conversion rate;
• Basically, filling out the document is done in English, but since the rules accepts documents only in Russian, it is necessary to translate the document or fill it out in two languages;
• When sending products for non-commercial purposes, the reasons for the dispatch are indicated;
• If the exporter pays for insurance and transportation of products, then their cost is indicated in a separate line;
• 6 copies must be compiled.

One original and five copies, which are kept together with the AWB invoice. One copy is placed directly on the cargo.