The payment receipt template is proof that a payment has been made either in full or partial settlement for a product or service. It is issued specially for the buyers to let them inform that the payment was received by the company. Hence, this receipt is more important to the buyer rather than for the business. This is also known as a ‘receipt for payment’. It is printed after payment has been made on a given sale transaction. The amount of payment can be a partial amount or the full amount stated on the invoice for the sale.
What to Include in a Payment Receipt?
While preparing a payment receipt, there is no hard and fast rule about what to add or what to not, all the basic information which is a part of a regular receipt is needed to be mentioned in this receipt too. The receipt should provide detailed information regarding the payment, such as the date on which payment was received. The name of the seller along with the name and logo of the company. The receipt should be clearly mentioned that it’s a payment receipt; a unique number should be awarded to each receipt. Then the amount received along with the remaining amount due is also there on the receipt. In order to avoid any kind of confusion, if the full amount of the receipt has been paid, this should also be clearly indicated on the payment receipt.
Benefits of a Payment Receipt
A payment receipt verifies that a payment has been made by a client in exchange for receiving goods or services. It prevents both parties from getting into a dispute by proving that both parties have successfully completed their part in the transaction. The payment receipts include a detailed description of the goods and services which are sold to a client. These receipts are also used to avail the warranties or are required for exchanging goods or services. Moreover, you’ll need payment receipts to request for reimbursement. To avail warrantee or benefits, you will need to enclose the original payment receipt, which was provided to you at the time of transaction. Going further, it can also serve as evidence, in case of violation of any terms or conditions by any of the parties involved, and can be presented to law enforcement authorities. A payment receipt assists in completing or maintaining a proper record, and makes it easier to track any specific transaction during any period. It also proves that you have asked for a reasonable amount in exchange for goods or services.
Templates for Payment Receipt
