Proforma Invoice Delete Date Field For Free

The pro-forma invoice is issued before sales takes place. Once after receiving pro-forma invoice from the supplier, the buyer sends a purchase order or opens a letter of credit to the supplier.

Note: only after a pro forma invoice is converted into a true invoice will its value be registered in your account. This is because, until that point, there is no guarantee the customer will agree to your terms.

Proforma invoices are not legally binding and are not counted as official sales in your accounting department. Traditional invoices confirm a purchase or sale, whereas proforma invoices are just a way to establish the terms of the sale.

A firm may send a pro forma invoice before shipping any agreed-upon deliverables or with the shipped items. While it does contain exact cost details associated with the sale, it is not an official demand for payment.

A proforma invoice is usually sent when a customer has committed to a purchase but cannot be sent an official invoice because the final details haven't been confirmed. On the other hand, a quote is sent to a customer who has made an enquiry but wants more information before making a commitment to buy anything.

Deleting a Proforma InvoiceExpand the Module Menu and click the Accounting module hyperlink to open the Accounting module.Expand the Scheduled Processes group item to see the list of available action items.Click the Delete Proforma Invoices hyperlink.More items...

Since it is a quotation for goods under question, the buyer is not required to make payment against such an invoice. In other words, such an invoice is not a tax invoice as it does not lead to recording of accounts receivable for seller and accounts payable for buyer. Thus, Pro Forma GST Invoice is not legally binding.