– Accounts Receivable Documents

Below are the documents generated during the I2C process:

Purchase order

A purchase order (PO) is a commercial document and an initial official offer issued by a buyer to a seller, indicating the types, quantities and agreed prices for the products or services that the seller will supply to the buyer. Sending a purchase order to a supplier constitutes a legal offer to purchase products or services. Acceptance of a purchase order by a seller generally forms a contract between buyer and seller, so no contract exists until the purchase order is accepted. It is used to control the purchase of products and services from external suppliers. Creating a purchase order is usually the first step in the purchase-to-pay process in an ERP system. In case of cash order process or accounts receivable, a purchase order is received from the customer which triggers the whole cash invoicing process.

customer invoice

An invoice or invoice is a commercial document issued by a seller to a buyer, showing the products, quantities and agreed prices for the products or services that the seller has provided to the buyer. An invoice shows only the sales transaction. Payment terms are independent of the invoice and are negotiated by buyer and seller. Payment terms are usually included on the invoice. From a seller’s perspective, an invoice is a sales invoice.

Performance Bank Guarantee

The seller issues a Performance Bond to ensure or give a concrete commitment to the buyer through his bank. This method assures the buyer of timely execution of an agreement for goods to be exported or delivered or services to be performed. In the event of the seller’s failure to fulfill the agreed conditions, the Bank Performance Guarantee guarantees the buyer payment of the amount of the guarantee by the issuing bank. In the case of large projects, buyers generally require the seller to provide a performance bond to ensure that the terms of their purchase order will be met.

Packing list

In export/import, the packing list is also a commercial document. The packing list shows how the material was packed. This is an itemized list of items typically included in each shipping package, showing quantity, description, and weight of contents. Prepared by shipper and sent to consignee for accurate count of goods delivered. A packing list, packing list, waybill, packing slip (also known as a packing slip, unpacking note, packing slip, (delivery) slip, delivery list, manifest, or receipt customer), is a shipping document that accompanies delivery packages, usually inside an attached shipping pouch or inside the package itself. It usually includes a detailed breakdown of the contents of the package and does not include the customer price. It is used to inform all parties, including transport agencies, government authorities and customers, about the contents of the package. This helps them manage the package accordingly.

Certificate of origin

A Certificate of Origin (often abbreviated as C/O or COO) is a document used in international trade. This is a printed form, completed by the exporter or his agent and certified by an issuing body, certifying that the goods in a particular export shipment have been wholly produced, manufactured or processed in a particular country. “Origin” does not refer to the country from which the goods were shipped but to the country where they were manufactured. The certificate of origin must be signed by the exporter and, for many countries, also validated by a chamber of commerce, and in the case of certain destination countries by a consulate. Chambers of commerce offer certificate of origin services, among other organizations. Businesses can consult the chambers directory on the World Chambers Network, the official global portal for chambers of commerce dedicated to international electronic commerce, to find the nearest chamber that may offer this service.

Quality and Quantity Certificate / Pre-shipment Inspection

Pre-shipment inspection, also known as pre-shipment inspection or PSI, is part of supply chain management and is an important and reliable quality control method to check the quality of goods while customers buy from suppliers. After having ordered a certain number of articles, the buyer allows a third party to check the ordered goods before they are sent to him. Normally, an independent inspection company is entrusted with the task of the PSI, because it is in the interest of the buyer that someone outside the transaction checks the quantity and quality in any way. This way, the buyer makes sure that he gets the goods he paid for. The process involves checking the total quantity of goods and packaging, checking the quality and/or consistency of the goods, checking all documentation including test reports, packing list and verification of conformity with the standards of the country of destination (for example ASME or CE marking). After the inspection, a quality and quantity certificate is issued.

Insurance certificate

The insurance certificate is a document issued by an insurance company. It certifies that an insurance policy has been taken out and presents a summary of the most important provisions of the insurance contract. In marine insurance (where cargo is insured against a floating insurance policy), the COI serves to assure the consignee that insurance is in force for the goods in transit and that an appropriate policy will follow. It is also called insurance certificate. This may be required of the buyer before the goods are dispatched.

Flight transport lettter

Air waybill (AWB) or air waybill referring to a receipt issued by an international airline for the goods and proof of the contract of carriage. Several purposes can be achieved by an air waybill, but its main functions are the contract of carriage; Proof of receipt of goods; Freight invoice; Certificate of insurance and aids Customs declaration. International air waybills that contain consolidated cargo are called master air waybills (MAWB). MAWBs have additional documents called house air waybills (HAWBs). Each HAWB contains information about each individual shipment (recipient, content, etc.) within the consolidation. International LTAs that are not consolidated (one shipment on one invoice) are called single LTAs. An internal air waybill can also be created by a freight forwarder. When the shipment is booked, the airline issues a MAWB to the freight forwarder, who in turn issues their own air waybill to the customer.

bill of lading

A bill of lading (sometimes abbreviated as B/L or BOL) is a document used in the transportation of goods. It serves several purposes in domestic and international trade. A bill of lading is generated by a shipper, details a shipment of goods, provides title to the goods, and obligates the carrier to deliver the goods to the appropriate party. Since the bill of lading represents the title to the goods detailed on it, it can be traded in the same way as the goods, and even borrowed if desired. This is a very important and commonly used document in export and import trade globally and for Letter of Credit and Documentary Collection transactions it is important to retain title. goods until the transaction is completed. This means that the bill of lading remains an essential part of international trade.

Proof of delivery

Proof of delivery is a method of establishing that the recipient has received the content sent by the sender. Proof of delivery becomes very important when legal and financial documents need to be exchanged between two parties. In the United States, DHL, UPS, and FedEx as well as the United States Postal Service (USPS) provide proof of delivery. Commercial fleet operators also need to be able to confirm proof of delivery of goods to their customers. A proof of delivery is generally used when different couriers are used to deliver the product to the customer.

Truck Receipt / Truck Receipt

When a person deposits the goods with a carrier for transport to a given destination, the carrier issues a truck receipt (LR) or a consignment note to the person depositing the goods. The original of the PO/consignment note is sent either directly by the person reserving the goods to the consignee or via the bank. The recipient can collect the goods from the carrier by presenting the LR/consignment note. In commercial jargon the ‘truck receipt’ or ‘consignment note’ is a ‘title deed’ and ownership of the goods passes through the delivery of the LR/consignment note.

Installation report

The Installation Report is used to report the successful installation of any equipment, machinery or project at the customer’s site. This report details installation, training and support details for this particular machine/product. This report usually contains information such as machine/product details, serial number, installation date, customer name, etc. The report is primarily intended for the principal and the persons involved in the additional or corrective work, or the additional inspections.

Warranty certificate

In contract law, a warranty has different meanings, but generally means a guarantee or promise, which provides assurance by one party to the other party that facts or conditions are true or will occur. This factual guarantee can be enforced and allows legal recourse if this promise is not true or fulfilled. Warranties provided in the sale of goods (tangible products) vary by jurisdiction, but generally new goods are sold with an implied warranty that the goods are as advertised. In the United States, various laws apply, including provisions of the Uniform Commercial Code, which provide implied warranties. A certificate specifying the implied warranty is called a warranty certificate.