Purchasing is one superpower that possibly all people have. Receipts or any proof of payment is a document or a form of writing that is given to customers when they accept goods or services. Most businesses, both big and small, must provide their customers with a receipt or proof of purchase as usually mandated by their state government. On the other hand, a customer has the right to ask for a receipt for any purchases they make.
Here are some receipt templates that any business or individual can use to acknowledge that something of value has been taken and paid by another party. Templates are also available for business-to-business dealings as well as other stock and market transactions.
Cash Paid Receipt Template
Rent Paid Receipt Template
Invoice Paid Receipt Template
Excel Paid Receipt Template
Paid In Full Receipt Template
Elements of a Paid Receipt
For products or goods, a receipt should include the following elements:
- Business name. Just like any other formal document, a payment receipt should include all the necessary and essential details in order to identify the business supplying the products or goods.
- Date of supply. The date when an item or product is purchased should also be indicated in case a return or refund is necessary. The date of purchase of some perishable goods can be a basis for refund qualification.
- Details on the product. Details such as the size or weight of the product, number of items bought, and the price for each item should be present in the receipt. A Money Receipt should especially include the total price and tax spent from the purchase.
For services, a receipt should have these items:
- Itemization of the price. A service can be composed of several activities in order to come up with the desired output that the customer needs. This step-by-step process should also be shown to give an idea on how the price was worked out.
- Number of labor hours and hourly rate. Some services take a number of days and they are paid per project. However, most of them are usually paid hourly as they do not require a whole day of labor and should be specified in the receipt.
- List of materials used and corresponding charges. Certain services require materials and equipment that the supplier may need rent or acquire from other businesses. Most of these are quite expensive so it should also be stipulated just in case the client questions a high price.
Fee Paid Receipt Sample
Free Paid Receipt Template
Services Paid Receipt Template
Receipt For Tax Paid
Why Is a Purchase Receipt Form Important?
- Keep track of all sales transactions. The basic purpose of a receipt is to record all transactions that took place at any particular period of time.
- Keep track of purchases. Receipts let people keep track of their purchases in order for them to generate a sustainable budget for their home and personal consumption.
- Replacement, return, or refund. It is inevitable that a replacement or return is necessary when a product is damaged or of poor quality upon purchase and a refund for unsatisfactory services.
- Future purchases. Like an Invoice Receipt, previous receipts can be used as a reference for similar purchases in the future.