What Is a Receipt?
A receipt serves as proof that you have made the payment for your purchased orders and bills. It comes in many forms such as a cash receipt, rent receipt, business receipt, hotel receipts, service receipt, or sales receipt. In addition, a printed receipt is written proof that there is a transaction happening between two parties. Upon receiving a receipt, it usually means that a cash payment was involved from a customer and a service provider. The receipts should be kept for future purposes like having some complaints about the thing you have purchased or if you want to praise the provider's services.
How to Make a Receipt?
Receiving a simple receipt means ownership of something you purchased. It can be from purchasing a car, house, or simply your rent payment. It is important to always ask for a receipt because from it, you can trace your payments, tax, or fees from the thing you have exchanged business from. For the service provider's side, giving a receipt means that your business is credible and professional. We have provided steps on how to make a receipt for you to follow before you print.
1. Determine the Purpose
Knowing the purpose of the receipt you will be making is a must. It is because a receipt can simply be a receipt or an invoice. A receipt is proof of payment while a printed invoice is a request for payment. Determining which of the two types you will be making will help you achieve the proper format of the receipt that you need.
2. Write Down the Details
Placing important information on your receipt is the most important thing. The specific detail includes the receipt number, date, company name, contact information, items purchased and its cost, taxes, and the overall total. These details serve as a summary of the transaction that happened. For example, the Office of Finance at Harvard University requires detailed purchase order forms and receipts for the validation of businesses.
3. Insert a Logo
Your company sample logo should be in your receipt. It is usually placed at the topmost part of the paper. The logo serves as an identification that your receipt is legitimate and can be trusted. It will also make your business more popular by just looking at the receipt with the logo then your past customers will maybe recommend your services to others.
4. Put a Barcode
Barcodes are placed at the bottom of receipts (especially if they are bill receipts). The barcodes in receipts is a way of storing the summary of the transaction. The summary that is in the barcode is the details that are not placed on the receipt. These are the name of the cashier, the payment method, or anything that was not written on the receipt.
5. Choose a Font
The font on your receipt should be big and clear so that your customers will be able to read it easily. Choose a font that is simple and basic to make your receipt readable for everyone. You can just choose from the sample receipt templates above to ensure that the fonts of your receipt are visible and readable enough for your customers.
How to Make a Personal Receipt?
The steps to make a Personal Receipt yourself are:
- Buy a receipt book to make writing receipts easier.
- Write the receipt number and date on the top right.
- Write your company name and contact information at the top left.
- Skip a line and write down the items purchased and their cost.
- Write the subtotal below all of the items.
Why is a Receipt Needed?
The primary purposes of a receipt include providing information to customers or donors, documenting purchases and assisting with internal accounting. Both for-profit and nonprofit organizations have reasons to give receipts to patrons.
What is the Difference Between an Invoice a Receipt?
The significant difference between the two is that the invoice is issued prior to the payment while the receipt is issued after the payment. The invoice is used to track the sale of goods or services. On the contrary, receipt acts as documentation for the buyer that the amount of the merchandise has been paid.
Can I Use an Invoice to Serve as a Receipt?
An invoice is a request for payment. You give an invoice after the customer receives their good or service. A receipt is proof of payment. You give a receipt after the customer has paid for a good or service.
What Does the Invoice number on a Receipt Represent?
An invoice number is a unique number generated by a business issuing an invoice to a client. This number is included on the invoice and it is used for payment tracking purposes. When the client makes a payment, they will refer to this number to show that the funds are for that particular invoice.