A good business will always have a report to record the transaction and ease them doing auditing. In the business reports there are so many records need to be included such as receipt form.
For you who are new to a business, receipt plays the most important roles which serve as the proof of transaction and as a tool to record it. This document is very essential that also can protect the buyer and seller.
Let’s take an example, a buyer wants to exchange or return the item to the seller, he/she should shows the receipt. By this way, the seller will check whether someone is trying to scam them or not by looking at the record in the document. Some businesses also give marks whether the items can be returned or not through a term and condition. They also can decide whether the item is eligible to be returned or exchanged.
In terms of business, the receipt can be the proof of a transaction and this can ensure the business owner that all the revenues end up in the right place, not in the employees’ pockets. Maybe you ever see a bar giving a sign “You will receive the goods for free if the employees don’t give you the receipt”. This actually has a purpose. The employers issue the receipt to make sure that their employees will not put the money in their pockets.
Furthermore, this document will be excellent tool for lowering the tax bill. Most business owners will record and keep their receipts of business purchases such as meals, travel, office supplies and other business expense.
When Do You Need To Issue The Receipt Forms?
It is essential to any type of business to issue receipt forms for recording the customers’ transaction whether purchasing goods or services. It is very vital too to keep the copies for your tax returns.
What Kind of Information We Need To Include In the Receipt Form?
Whether it is for a service or goods, the receipt should contain the following information:
Your company’s general information such as name of the company, phone number, name, address and also email address.
The time of the transaction such as date, month and also the year.
The list of products or services urchases with its brief decription such as the quality.
The amount of the transaction such as the number of goods purchases, the duration of the services and this also includes the discount.
The method of payment taken whether the customer use cas, debit card or credit.
How To Issue A Receipt
There are many ways of issuing receipts which are paper and electronically. Some small business stil use the handwitten receipts or type it.
The electronically receipts – This one is usually used when a customer is using the online purchase. Most companies provide software that enables them to issue receipt digitally with certain codes and regulations. This method is now very popular. If your business proivide online purchase, then you should have this one.
Paper receipts – This method is still popular but mostly it is combined with machine so the seller just need to record the transaction from a computer. It is very convenient. You can download our templates for this pupose and is always printable. Besides, our templates are still available for handwritten receipts. All of them are free for you!
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