• The written record of a sale

• Bill written by a seller of goods or services and submitted to the purchaser.

 Referenced Terms
 Accruals: Liabilities for services received for which payment has yet to be made and for which Invoice has not been received.

 Conversion factor: Rules set by the Chicago Board of Trade for determining the Invoice price of each acceptable deliverable Treasury issue against the Treasury Bond futures contract.For the credit futures markets, it is the number that relates different coupons and acceptable deliverable maturities for delivery against the contract standard of an 8 percent coupon and the stipulated acceptable time remaining to maturity specifications. For the security markets, it is the contractual number that indicates how many shares a convertible security can be exercised into at any point in time.

 Date of invoice: Indicates that the beginning of the credit period is the date on the Invoice for the purchase.

 Grades: Refers to the quality of a potentially deliverable commodity. It can refer to sulfur content for crude, country of origin for coffee or cocoa, or other distinguishing factors which influence the item. Often there is a schedule of premiums and discounts to adjust the Invoice or delivery price for grade differences.

 Invoice date: Usually the date when goods are shipped. Payment dates are set relative to the Invoice date.

 Related Terms
 Date of invoice
Invoice billing
Invoice date
Invoice price

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