A sales receipt template is a document which is used to keep the record of an account that is associated with a sale of a product or service. It provides the proof of the purchase along with the details of the payment or any other thing exchanged, if exchange was made. This receipt is the most common method used by management to keep the records accurate. Besides the record, it further serves as legitimate evidence of a business transaction where a buyer purchased a product from a seller. There are certain other elements which are also required to record, like date of purchase, terms of purchase, credit balance and condition of product. A sales receipt protects both the parties from getting into trouble or being involved in any sort of misunderstanding.
Sales Receipt and Its Usage
There are certain usages of a sales receipt, which are given as below:
• Cash Register Receipt.
• Manual Transaction Receipt.
• Packing Receipt Slip.
• Record Receipt.
Different Formats of Sales Receipt
No matter which kind of sales receipt you are using, the format of each type is almost similar. It should start with the date on which the sale has been made along with the receipt or invoice number. After that, one should list the name of the company with the complete description of address, city, state, zip code, phone number and email. The information about the customer should also be listed this way. If it is not a manual receipt, you are required to insert a tabular column for the complete description of the items and their quantities along with the price. The overall price of all the products will be mentioned at the end of the tabular column. A sales receipt should be equipped with all the necessary information which can be used later. In order to avoid any kind of confusion between the seller and the customer, you should clearly mention terms and conditions regarding returns and refunds on the sales receipt. This section should give brief details so that they should be easily understood by the average customer. This section should not confuse customers and employees.
Importance of Sales Receipt
A sales receipt template is of extreme importance as it protects all the parties involved in the transaction, it provides the proof of sale to protect both the parties from any kind of misunderstanding because all the important details are mentioned clearly. A sales receipt is beneficial for the employees of the company because they do not have to worry about forgetting an important piece of information every time a sale transaction happens and will streamline the business as a whole. It confirms a standard format of sales receipt is being used by the organization as well as all employees. This receipt provides the record of all the transactions, so it will assist you to organize the data and will also assist you in filling out governmental documents like tax filing. Because all the required information is already gathered, you just need to input the data. It gives all the details of the products or services to the customer. As mentioned earlier, it is proof of sale, so it can be used as legal proof in case of a hassle among the parties. The significance of sales receipt varies if you are running a small business or a business empire. It is always important to keep a record of the payment.
Templates for Sales Receipt
