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Payment receipt template is an essential tool that provides customers with information. It helps them with internal accounting and the documentation of purchases. The important functions of a payment receipt include;
- A payment receipt is useful during returns and exchanges. When you buy a product that is defective then by having a receipt you can return it. The receipt includes the relevant information about the return policy.
- This document makes sure smooth communication between you and the seller. It contains all the important details on the purchase of goods or services from the seller. Due to the receipt, there is no disagreement between the involved parties.
- With the help of receipt, the seller keeps an accurate track of the sales as well as revenue.
What to include on a payment receipt?
A payment receipt includes the following elements;
Date of payment:
This indicates the day that the goods or services were sold to you. It is used to keep record of the certain period that specific items were sold.
Receipt number:
When full payment for goods and services sold is made, this number is generated. It consists of the date in which sales were made and the particular time that the receipt was issued.
Credit card details:
The credit card details indicates the date and time a transaction was made. It includes the following details;
- the account number of the seller
- the reference number
- the amount that was charged in that specific transaction
Sum amount received:
From the sale of goods and services, it is the amount of money that was paid to the business. The received amount assists the businesses to keep track that assists them in calculating the revenues they have generated.
Payment method:
Mention the mode of payment used to pay for goods and services by different customers. It assists a business in keeping record and knowing the methods used by their customers. At the request of their clients, the business can add a mode of payment.
Remaining amount due:
When the invoice is applicable then the remaining amount due is normally used. The business then uses it to track payments that may be pending. To fast-track payments of goods and services give to customers and other organizations, the business can use the information.
Seller’s details:
This section includes the physical address of the seller and the contact information. This information can be used by the customer, organization, or the business. To contact the seller to enquire about goods and the quantity, the customer can use the seller’s details.
Transaction details:
Transaction details include the following;
- The purchase things are mentioned in the transaction details. It is relevant to details of the commodities that have been purchased by a customer.
- Quantity purchased information on a receipt assists the business owners in stock taking. The business can know the quantity that should be enhanced.
- Received by: this part in transaction details is used to highlight the person to who the receipt is made. The business can use this information to determine the goods which customers purchase.
- Received from: the person or the business which made the receipt is mentioned in this part.
Logo:
A company or business has to include their logo in the receipts they issue. This is the part of brand marketing. This can be helpful to customers and other organizations.
Original invoice number:
The original invoice number is unique to a specific invoice. It is used by businesses to keep record of the sales made. It also includes the amount that was in that invoice.
Conclusion:
In conclusion, a payment receipt template is a helpful tool that assists the businesses in record-keeping. It indicates the transfer of goods or services between two parties. The receipt includes a description of the services or goods sold and the amount.
