F5 and F8

[Former Member]

Hi what is difference in functionalities of f5 and f8.

in f5 billing type and f8 billing type settings difference.

please explain.

[Former Member]

F5- Order related proforma Invoice.

F8- Delivery related Proforma Invoice.

The proforma Invoice is a document used in Exports most of the time but they can also be used by customers locally as well under specific conditions.

It does not create any accounting document. The use of this is more for the buyer. In exports, the receiver needs to declare the value and the quantities and the items for impot/export control, allotment of foreign exchange by the bank/regulating authorities and to avail any preferential rate of duty in the country of the buyer.

So to avail these benefits and also fulfil statutory regulations the buyers normally ask for proforma Invoice in advance before payment.

The actual Invoice aslo called the commercial Invoice is presented along with the goods at the time of shipment and a copy of this after shipment along with the Bill of lading is sent to the customer through the bank if it is on LC in which case it is negotiated or sent directly to the Buyer if it is on collection basis.

regds

Jude

[Former Member]

hi,

we use F5 order related proforma for advance payment purpose, like we have a case for an export we open a letter of credit so that he bank pays us the money.

F8 is delivery related proforma used for customs clearance puropose. As compared to a normal billing doc everything is same as far as look is concerned but here the value in proforma is before any discounts. where as in F2 invoice we show it after discounts so that the customer pays whats required.

regards

sadhu kishore

[Former Member]

F5 & F8, both are Proforma Invoice.

F5 - Order related Proforma Invoice

F8 - Delivery related Proforma Invoice. In Delivery related Proforma Invoice, Proforma Invoice can be created after picking, which can be before or after PGI.

Regards,

Rajesh Banka

[Former Member]

Hi,

Both F5 And F8 are Proforma invoices. these are used as dummy invoice at different times.

The main different is F5 is Order related. basically its used for LC purpose. Before giving LC (Letter of Credit) banks needs the value of the goods. F5 is used most for this reasons.

F8 is Delivery related. its mainly used as copy of invoice for Custom/border crossing purposes.

Reward if helpful.

Muthupandiyan

[ranjeetrajendra_jain]

The settings

For proforma -

Document type is U i.e., Pro forma Invoice

Transaction gr is 8 i.e., Proforma Invoice

all the setting are similar for F5 and F8 however in copy control there lies a difference, data in F5 is copied from Order, where as in F8 from Delivery.

Sales order which are not relevant for delivery use F5 like a service order or somthing of that sought where delivery of physical materials doesn't take place

Thats all i guess...

If you need further assistance lemme know

[ranjeetrajendra_jain]

F8 and f5 Performa with any implications... It is not considered a legal document and is used to declare material valuation at borders and check post as and when required

They only differ in the sense that F5 is order related, where as f8 is delivery related

[Former Member]

hi

f5 is basically order related proforma invoice, where as f8 is delivery related proforma invoice

thanks