Net 30 means the full invoice amount is due 30 calendar days after the invoice date. It is the most common B2B payment term worldwide and signals normal credit terms — not '30 days from delivery' or '30 days from receipt' unless explicitly stated.
A proforma invoice is a preliminary bill of sale sent to a buyer before goods or services are delivered. It is not a legal demand for payment and not used for accounting — it confirms price, terms, and quantities so the buyer can issue a purchase order or arrange financing/customs.
A commercial invoice is the legally binding bill issued by a seller to a buyer after goods or services have been delivered. It is recorded in both parties' accounting systems, used for tax and customs, and serves as the formal demand for payment.
A credit memo (or credit note) is a document a seller issues to reduce the amount a buyer owes on a previously issued invoice — for returns, overcharges, discounts applied after billing, or cancelled work. It is the accounting reverse of an invoice.
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