How to Print a Commercial Invoice in NetSuite

Greetings, you savvy business owners! Are you tired of getting stuck in the tedious process of printing commercial invoices for your international transactions? Well, fret no more! In this article, we will guide you through the simple steps of printing commercial invoices in NetSuite, saving you time and effort. Let’s get started!

What is a Commercial Invoice?

A commercial invoice is an essential document in global trade that contains information about a shipment, such as the type, quantity, and value of goods being exported or imported. It acts as evidence of the transaction and is utilized by customs officials to determine duties and taxes.

Typically, a commercial invoice includes details about the buyer and seller, the terms of the sale, and the payment method. It is crucial for businesses to have a thorough understanding of what a commercial invoice is and how to correctly prepare and submit it in order to facilitate seamless cross-border transactions.

Why is a Commercial Invoice Important?

A Commercial Invoice holds great importance for a variety of reasons. Firstly, it serves as a legal document that provides concrete evidence of the transaction between the buyer and the seller. It includes crucial details such as the products, quantities, and prices involved in the transaction. Secondly, it is necessary for customs purposes as it aids in determining the value of the goods being imported or exported. Lastly, it plays a vital role in accounting and record-keeping, ensuring accurate financial reporting. To ensure efficient business operations, it is crucial to understand the significance of a Commercial Invoice and ensure its proper documentation and printing.

How to Create a Commercial Invoice in NetSuite?

Creating a commercial invoice is an essential step in the sales process for businesses that trade internationally. With NetSuite, this process can be streamlined and automated, saving both time and effort. In this section, we will guide you through the step-by-step process of creating a commercial invoice in NetSuite. From navigating to the sales order to adding items and customer information, we will cover all the necessary steps to help you create a professional and accurate commercial invoice.

Step 1: Navigate to the Sales Order

To navigate to the sales order in NetSuite and create a commercial invoice, follow these steps:

1. Log in to your NetSuite account and go to the home dashboard.
2. Click on the “Transactions” tab in the top menu.
3. From the drop-down menu, select “Sales” and then choose “Sales Orders”.
4. In the sales orders list, find and click on the specific order you want to create an invoice for.
5. Once you’re on the sales order page, click on the “Create Invoice” button located at the top of the page.
6. Review the details and make any necessary adjustments before finalizing the invoice.
7. Click on the “Save and Print” button to generate the commercial invoice.
8. You can then choose the appropriate print settings and print the invoice from your printer.
9. Ensure that the printed invoice includes all the required information, such as seller and buyer details, date and invoice number, description of goods, quantity and unit price, total amount due, shipping and handling fees, payment terms and methods, country of origin, and harmonized system code.
10. Finally, both parties should sign the invoice for verification purposes.

Step 2: Add Items to the Sales Order

To add items to a sales order in NetSuite, follow these steps:

1. Navigate to the Sales Order module in NetSuite.
2. Click on “Add Items” or a similar option to access the item list.
3. Search for the desired items using keywords or filters.
4. Select the items you want to include in the sales order by checking the boxes next to them.
5. Specify the quantity and any other relevant details for each item.
6. Click “Add” or a similar button to add the selected items to the sales order.
7. Review the order to ensure all items are correct and accounted for.
8. Save the sales order to finalize the addition of items.

Pro-tip: Use the item search function to quickly find and add items to the sales order based on keywords, item numbers, or other specific criteria.

Step 3: Enter Customer Information

To accurately enter customer information into a commercial invoice in NetSuite, please follow these steps:

1. Navigate to the Sales Order.
2. Add items to the Sales Order.
3. Enter the required customer information in the designated fields.
4. Include the customer’s address in the shipping information section.
5. Create the invoice by selecting the appropriate options.

By following these steps, you can ensure that all necessary customer information is accurately entered into the commercial invoice.

Step 4: Enter Shipping Information

To input shipping details into NetSuite while creating a commercial invoice, follow these steps:

1. Navigate to the Sales Order
2. Add Items to the Sales Order
3. Enter Customer Information
4. Step 4: Enter Shipping Information
5. Create the Invoice

In the shipping information section, be sure to include the customer’s shipping address, preferred shipping method, and any special instructions or requirements. It is important to ensure accuracy in order to prevent any delivery issues. Once all shipping information has been accurately entered, proceed with creating the invoice.

Step 5: Create the Invoice

Creating a commercial invoice in NetSuite involves the following steps:

1. Navigate to the Sales Order.
2. Add items to the Sales Order.
3. Enter customer information.
4. Enter shipping information.
5. Step 5: Create the Invoice

To create the invoice, click on the “Create Invoice” button in NetSuite after completing the previous steps. Make sure to double-check all the information entered before finalizing the invoice.

Suggestions:

• Ensure that all necessary fields are filled out accurately to avoid any errors or delays in processing.
• Review the invoice before sending it to the buyer to ensure accuracy and professionalism.
• Save a copy of the invoice for your records and follow your company’s protocols for filing and organizing invoices.

How to Print a Commercial Invoice in NetSuite?

In this section, we will discuss the step-by-step process of printing a commercial invoice in NetSuite. Whether you need a physical copy for your records or to send to a client, NetSuite makes it easy to generate and print professional-looking invoices. We will cover each step, from opening the invoice to selecting the appropriate print settings, so you can confidently print your commercial invoice with ease. Let’s get started.

Step 1: Open the Invoice

To access and open an invoice in NetSuite, simply follow these steps:

1. Navigate to the Sales Order.
2. Add items to the Sales Order.
3. Enter customer information.
4. Enter shipping information.
5. Create the invoice.

By following these steps, you can easily open the invoice in NetSuite.

Step 2: Click on the Print Button

To print a commercial invoice in NetSuite, follow these steps:

1. Step 1: Open the invoice in NetSuite.
2. Step 2: Locate and click on the print button on the invoice page.
3. Step 3: A print dialog box will appear.
4. Step 4: Choose the appropriate print settings, such as the printer and number of copies.
5. Step 5: Click on the “Print” button to print the invoice.
6. Step 6: Finally, click on the “Print” button to easily print the invoice in NetSuite.

Following these steps will allow you to easily print a commercial invoice in NetSuite.

Step 3: Choose the Appropriate Print Settings

To select the proper print settings for a commercial invoice in NetSuite, follow these steps:

1. Step 1: Open the invoice in NetSuite.
2. Step 2: Click on the Print button located on the invoice page.
3. Step 3: In the print settings dialog box, carefully select the appropriate settings based on your specific requirements. This may involve choosing the paper size, orientation, and number of copies needed.
4. Step 4: Once you have chosen the desired settings, click the Print button to generate the printed invoice.

Pro-tip: Before printing the commercial invoice, double-check the settings to ensure that all necessary information is included and that the document will be printed accurately.

Step 4: Print the Invoice

To print a commercial invoice in NetSuite, follow these steps:

1. Open the invoice in NetSuite.
2. Click on the Print button.
3. Choose the appropriate print settings, such as paper size and orientation.
4. Step 4: Print the invoice using a printer connected to your computer.

By following these steps, you will be able to print the invoice and have a physical copy for your records or for sending to customers or partners.

What Information Should Be Included in a Commercial Invoice?

When it comes to international trade, a commercial invoice serves as a vital document for both the seller and the buyer. It outlines crucial information about the transaction, including the goods being sold, the terms of payment, and the parties involved. In this section, we will discuss the essential details that should be included in a commercial invoice, such as seller and buyer information, date and invoice number, description of goods, and more. By understanding the components of a commercial invoice, you can ensure a smooth and accurate printing process in NetSuite.

1. Seller and Buyer Information

When creating a commercial invoice, it is essential to include accurate information for both the seller and buyer in order to ensure a smooth transaction.

1. Include the full name, address, and contact details of the seller.
2. Include the full name, address, and contact details of the buyer.
3. Ensure that all information is up-to-date and spelled correctly.
4. Include any relevant identification numbers, such as tax identification or VAT numbers, for both parties.
5. Double-check that the seller and buyer information matches the information on any related documents, such as purchase orders or contracts.

In a similar situation, a company once made the mistake of not updating the buyer’s address on a commercial invoice. This resulted in the shipment being sent to the wrong location, causing delays and additional costs for the company. This incident highlights the importance of accurately including seller and buyer information on commercial invoices.

2. Date and Invoice Number

When creating a commercial invoice in NetSuite, it is crucial to include the date and invoice number for proper record-keeping and tracking. Follow these steps to ensure accuracy:

1. Step 1: Open the invoice in NetSuite.
2. Step 2: Locate and enter the correct date for the invoice.
3. Step 3: Enter the unique and sequential invoice number.
4. Step 4: Validate the entered information for accuracy.
5. Step 5: Save the invoice to complete the creation process.

By including the date and invoice number, you can easily reference and organize your commercial invoices in NetSuite.

3. Description of Goods

When creating a commercial invoice, it is crucial to provide accurate and detailed information about the goods being shipped. This is essential for a smooth customs clearance process and to prevent any delays or issues with the shipment. Follow these steps to effectively describe the goods:

1. Identify each item: Clearly list each item being shipped.
2. Provide specifics: Include details such as size, weight, color, and materials used.
3. Use industry-standard terms: Use recognized industry terminology to describe the goods.
4. Include quantity: Specify the quantity of each item being shipped.
5. Mention purpose: Explain the intended use or purpose of the goods.
6. State value: Declare the value of the goods for customs purposes.

Pro-tip: Avoid using vague terms or abbreviations. It is important to provide as much information as possible to ensure a smooth customs process.

4. Quantity and Unit Price

To determine the quantity and unit price in a commercial invoice, follow these steps:

1. Calculate the total quantity of each item being sold.
2. Determine the unit price for each item.
3. Multiply the quantity by the unit price to calculate the total cost for each item.
4. Add up the total costs of all items to find the subtotal.
5. Include any applicable taxes or fees in the invoice.
6. Finally, calculate the grand total by adding the subtotal and any additional charges.

When calculating the quantity and unit price, it’s crucial to be precise and consistent. It is recommended to double-check all calculations to avoid any mistakes. Moreover, consider offering discounts or bulk pricing options to encourage larger purchases. Keep in mind that a well-crafted commercial invoice promotes transparency and clarity for both the seller and the buyer.

5. Total Amount Due

The total amount due is a crucial element in a commercial invoice. To calculate the total amount due, follow these steps:

1. Calculate the quantity of each item being sold.
2. Multiply the quantity by the unit price to determine the subtotal for each item.
3. Add up the subtotals of all the items to get the total subtotal.
4. Add any applicable shipping and handling fees to the total subtotal.
5. Consider any applicable taxes or discounts and adjust the total subtotal accordingly.
6. The final result is the 5. Total Amount Due, which should be clearly stated on the commercial invoice.

6. Shipping and Handling Fees

To accurately calculate shipping and handling fees for a commercial invoice, follow these steps:

1. Estimate the weight and dimensions of the package.
2. Determine the shipping method and carrier to be used.
3. Research the pricing structure of the carrier, taking into account factors such as distance, destination, and any additional services required.
4. Calculate the handling fees, which may include costs for packaging materials, labor, and administrative expenses.
5. Add the shipping and handling fees to the total invoice amount.

Once, when shipping a large order of delicate glassware overseas, I carefully calculated the shipping and handling fees. However, upon arrival, I realized that I had underestimated the packaging required to ensure the items’ safety. As a result, the shipping company had to repackage the goods at an additional cost. This experience taught me the importance of thorough planning and considering all aspects of shipping and handling fees to avoid unexpected expenses.

7. Payment Terms and Methods

When it comes to payment terms and methods in a commercial invoice, it’s important to establish clear guidelines for your customers. Here are some steps to consider:

1. Clearly define your 7. Payment Terms and Methods, such as net 30 or net 60, to ensure timely payment.
2. Provide various payment methods, including credit card, bank transfer, or electronic payment platforms, to accommodate different customer preferences.
3. Include instructions on how to make payment, such as providing bank account details or directing customers to an online payment portal.

Pro-tip: Offering incentives for early payment, like discounts or extended warranties, can encourage prompt payment and improve cash flow.

8. Country of Origin

When creating a commercial invoice, it is important to include the “Country of Origin” in order to ensure accurate customs clearance and trade compliance. Here are the steps to follow to ensure that this information is properly included in the invoice:

1. Identify the country where the goods were manufactured or produced.
2. Clearly state the country of origin on the commercial invoice.
3. Ensure that the country of origin information matches the supporting documentation, such as the bill of lading or packing list.
4. Include any applicable origin certificates or documentation related to preferential trade agreements.
5. Be aware of any specific regulations or requirements related to the country of origin for the specific goods being shipped.

Accurately and consistently including the country of origin in the commercial invoice is crucial for smooth customs processes and compliance with international trade regulations.

9. Harmonized System Code

The Harmonized System (HS) Code is a universally recognized code utilized for categorizing products in international trade. It is a vital element of a commercial invoice, supplying customs authorities with details about the type and classification of goods being transported in or out of a country. The HS Code is instrumental in determining applicable import duties, taxes, and regulations for specific products. It is essential to include the correct HS Code on a commercial invoice to ensure compliance and facilitate a seamless customs clearance process. Failing to provide the accurate HS Code can result in delays, penalties, or even rejection of goods at customs.

10. Signatures of Both Parties

Signatures of both parties are crucial in a commercial invoice as they validate the transaction and confirm agreement on the terms. To ensure both parties’ signatures are included:

• Step 1: Prepare the invoice with all necessary information.
• Step 2: Share the invoice with the buyer.
• Step 3: Request the buyer to review and sign the invoice.
• Step 4: Once signed, the buyer sends back the invoice with their signature.
• Step 5: Compare signatures to confirm authenticity.
• Step 6: Retain a copy of the signed invoice for record keeping.

A friend of mine, a small business owner, once had a customer dispute an invoice payment. Fortunately, she had obtained the customer’s signature on the invoice, which proved to be invaluable in resolving the issue and receiving payment promptly.