What Is a Sample Receipt?
A sample receipt is a document supporting that the seller has received the money or proof that both parties have made the transaction. Typically, they must include a date and time of purchase, quantity of items, name, and location of the business, VAT charged, method of payment, and return policy. Additionally, it can reduce the tax payables since the endorsed receipt can be used as payments that are subtracted to deals, it will effectively minimize your business tax fees due to poor net revenue. Also, sample receipts act great to promote the development of business financial statements and reports.
Aside from all of that, it can make your company safe from potential scams such as shoplifters from revisiting earlier stolen objects to gain money and individuals from acquiring a return on objects bought outside.
How to Write a Sample Receipt
When going in a transaction with your clients whether selling products, services, or even properties, it's a wise move to take a bill receipt with you to avoid disputes and discrepancies. In making a sample receipt, you'll need to pass a time-consuming method. But don't worry because we'll help you to streamline your processes.
Follow the steps given below clearly and enjoy a receipt that you can use in your wide-range operations.
1. Encode The Date And Receipt Number
Ensure that you mark the complete date and time and a serial number under it. Every receipt must have a serial number, so you can easily trace the sale of your business invoice. When marking the receipt number, start with the least number and move up for every receipt you issue.
2. Input Your Business Name And Contact Information
Important elements that should be in your business receipt is putting your company name and contact number on it because these show how your clients can contact you in case of disputes and complains. These elements also acknowledge that your company is legible and approachable to your clients.
You can also incorporate extra factors such as operating hours, website, social media, and warranty.
3. Write Down The Items And Their Costs
Write all the items that you sold and their designated prices. You can use these details later on. Ensure that you input the correct item and their accurate prices to avoid losing assets. Prefer checking their price twice before encoding it to the sales receipt.
4. Write Down The Subtotal
After writing down all the names and prices that you have sold, combine the price of each item that you have marketed, and write the cumulative amount below the cost of the items. The subtotal is the total cost sheet of all items before tax and other charges.
5. Compute The Grand Total
Write down the name of the tax or extra charges and reproduce their price. After that, you may include additional relevant fees to the subtotal amount to get the grand total. The grand total is the final amount when everything is added up.