Receipt Template

Edited by Ben Jacklin
16 399

What is a receipt?

In any transaction, accurate documentation is essential. For one thing, a paper trail – even if it’s digital – will protect all parties concerned. Luckily, with resources like digital documents and tools such as a receipt template, it’s easy to manage this for your home or business.

Need general guidelines on the topic of receipts to safeguard your basic interests? Here’s all you need.

A receipt is a document that proves a certain party was given money or property by a second party. The giving of an asset like money would be in exchange for something, whether it was for services rendered or goods that exchanged hands.

The receipt is essential for the party making the payment. This proves that the money exchanged hands, so there’s no chance of a retailer or other party demanding payment where it’s already been done.

For a retailer – or anyone else who received the payment – a receipt is also helpful since it helps keep accurate control of the books. Also, if you add details of a transaction, such as outstanding amounts after the specific payment has been taken into account, it will remind the customer what exactly he still needs to pay in the future. These documents can even be important for tax purposes.

A receipt is known by various names, including:

  • Delivery list
  • Bill of parcel
  • Bill of sale
  • Manifest
  • Docket
  • Packing list of slip

The use of these names will depend on the specific scenario.

A receipt must contain certain information to serve a practical function. The basic list of information usually included is:

  • Date of the purchase
  • A document number
  • Which payment method parties used
  • Identification of parties, such as the business’ name
  • The amount that exchanged hands, or the value of the property or items that were given by one party to the other

You can also indicate an outstanding amount. To simplify bookkeeping processes, add the invoice number relevant to the payment.

It’s also important to add words or phrases that identify it as a receipt to distinguish it from other documents easily.

Types of receipts

Business transactions may require one of many types of receipts, each with its own focus. They can also be generated by different systems, departments, and equipment. Receipt types include:

  • Payment receipt: This is a fairly simple form, simply stating what amount was paid.
  • Sales receipt: Here, you’ll find more elaborate information compared to a payment receipt, and it’s usually only given if the entire amount owed has been settled. You’ll see details such as payment methods and even tax details. For accepting returns of goods, a retailer may demand this type rather than a simple payment receipt.
  • Receipts from the cash register: All cash transactions at the sales counter will be accompanied by a receipt. For a retail worker, this can serve as source documents to determine whether the cash register contains the right amount of cash at the end of the day.
  • Credit card receipts: Similar to cash register receipts, but for all card payments.
  • Petty cash receipts: Small payments the company uses petty cash for should have receipts to document each activity.
  • Receipt for bank transactions: A business or person can also obtain a receipt as proof of money deposited into their accounts.

Receipt vs. invoice

One can get confused with all the different documentation needed for accurate bookkeeping. It’s important to understand each one’s purpose because even if they look similar, they can have vastly different uses. For example, an official invoice is not the same as a receipt.

Both the documents can be used for transactions relating to the exchange of goods and the payment required for those items. However, when you give someone an invoice, the document acts as a request for payment. This contrasts with a receipt which is proof of the payment that has already been received.

An invoice helps to track a company’s goods or provision of services. Since it can contain dates, service or product descriptions, and the client’s name, you’ll know when you provided a client with which of your services or merchandise. However, you’ll have no proof of receiving payment for any goods or services until you fill out a receipt. Therefore, an invoice usually comes before a receipt.

An invoice can also be called a bill.

How to fill out a receipt template

With the help of modern software, a receipt process becomes simple and even free of charge. You don’t even have to obtain a cash register or buy a receipt book. Simply use an editable receipt template in digital format. And it can all happen online. Using these generic digital forms is also more dynamic than using a Word or Excel form because they’re specially designed for this purpose. Important headings will be in place, and you’ll simply need to insert the details of the transaction in empty, fillable fields. These forms can be sent to a client in PDF format via email, resulting in less paper expenses for your company. However, if the client needs an official, physical document as proof of payment, the form is printable. A receipt template will have multiple fields. The process of filling out a receipt sample is as follows:

1. Open the blank fillable receipt template provided by PDFChef by Movavi.

2. Provide the company details, making it clear who provided the goods the payment is for.

Disclaimer: The templates here are provided for reference only and you should always talk to a professional for all legal matters.

Add the date to help both parties track the transaction.

Fill in the receipt number according to the next unused one in your receipt system.

3. Stipulate the transaction information, including goods or services rendered, the customer name, and the amount paid.

Disclaimer: The templates here are provided for reference only and you should always talk to a professional for all legal matters.

Use available fields to clarify the tax rate involved, the total amount owed by the customer, and, if relevant, the outstanding amount after the amount received.

To prevent fraud or a customer abusing your documents, make it clear which company representative received the payment. The company representative should make the document official by signing it.

4. Save the document after filling in all fields.

Print it or save it as a PDF document and email it to the client.

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* The trial version of PDFChef by Movavi has the following restrictions: 7-day trial period, watermark on the output PDF.

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