How to Create an IT and Software Receipt in Microsoft Word (DOC)?
Many receipt makers and tools are available on the internet today, such as the Receipt Bank, working hand in hand with accounting software to create a receipt. However, it would be best if you personalize your receipt so you can incorporate your branding elements. With that, here are some quick tips to help you finish this task instantly.
1. Launch and Incorporate Your Branding Elements
Open MS Word and start either with a 'Blank' document or search for a receipt template on the 'Search' bar. If you find a suitable one, get started with that and edit the highlighted areas, and if you are proceeding with a blank document start with the header. Your branding elements must always be present in every document of your company, including your business receipts. On the header of your receipt, you must place your company name, company logo, address, contact information, website, and other contact details. Having them on your receipt will not only inform the client where they purchase their goods or services but also provide them your company information.
2. Ensure that the Items Listed Are Complete and Correct
Customers do not want to pay more than what they have ordered. So, you have to ensure that the list is complete and correct, and the prices match their corresponding items.
3. Highlight the Subtotal and Grand Total
Usually, the first thing that the customers would check on their invoice and receipt is the total. So, make sure that the subtotal and the total are rendered in bold or in fonts larger than the rest of the text so it would be easy for the customer to locate them.
4. Be Organized and Ensure Proper Formatting
Lastly, for the presentation, you must organize the receipt content with proper formatting. For example, the top portion is intended for the seller’s details, the middle portion should present the list of goods or services availed of, and the bottom part should present the terms and conditions in brief and/or the signatories. Use the 'Insert' and 'Format' menu tools to insert, organize, and format the details and content.
Who Prepares and Issues the Receipt?
A receipt is prepared and issued by the seller or merchant to the buyer.
What Is the Difference Between a Receipt and an Invoice?
An invoice is sent by the seller to the buyer demanding the payment of the goods ordered or services availed of. On the other hand, a receipt is issued after the completion of the sales transaction, that is, when the seller has already delivered the goods or services and the buyer has paid them.
Why Is It Important to Keep a Receipt?
Receipts can be used to keep track of your expenses, as a proof of payment, and as a supporting document for audit and tax purposes.
Why Is It Important to Keep Receipts for Taxes?
Sellers should keep receipts because this will help them identify their actual deductible expenses as some expenses are taxable while the others are not. Having receipts will help them claim their taxable income deductions.
What Makes a Receipt Valid?
It must include the following:
- Date of purchase
- Seller’s name and address
- List of the items purchased
- Value-added tax, if applicable
- Grand total