Payment Receipt: Why Is It Important?
Any business transaction needs receipt, including payment. With the receipts you can have proof that the products bought have been paid properly. Not only that but the payment receipt is also required to complete the accounting report of your company.
Payment Receipts: What Is Included?
Generally speaking, payment receipts are a written document given to customers. Most of the time, the documents contain partial or full payment for a product purchased by the customers. The receipt itself is usually issued after payment is done on a given sale.
As for the information included in the receipts, there are no specific requirements to standardize it. However, most payment receipts come with typical information such as the seller’s name or logo, a clear label, and the original invoice number. The receipts also often include the amount of cash received, any remaining amount due, and the date when the payment is received.
Sample of Payment Receipt :
Why Issue the Receipts?
A payment receipt needs to be issued for many good reasons. It is often needed by customers who want a proof of the product payment they made before. However, the receipts are not only useful for customers but also business owners. They can also function as a reminder for the remaining amount due related to a partial payment.
Payment Receipt | word – download