The Official Receipt template is a document that is used by the organization for tax and accounting purposes. Moreover, when it comes to mange and running your business you should keep your enterprise organized, particularly your transaction documents. You should keep your official transactions with care and there is no argument about it. Further, they are proof of transaction of payment from the seller to the buyer against an item.
What is an Official Receipt?
The official receipt is a document you got against any payment for the item purchased or sold. The businessman should keep it with them for any tax and accounting issues. This is proof for a transaction once the payment has been made. This document issues from the seller against the cost of goods and services to the buyer. It’s proof of payment for your goods or services.
Official Receipt Templates
There is a list of official receipt documents which you can download free of cost. If you are not an expert in drafting a document, you can simply use a blank document from the website and fill in the details as per your requirement. This document is proof of the transaction you made for a purchased item from the seller. You may also see Service Receipt Template.
How to Write Official Receipt In Word?
You can create a printable receipt in Microsoft Word. Further, You can take help from the predesigned template and can save you from the irritation of doing hard work. You need to download it for your business purpose and bring it to use for your taxation and other necessary matters.
Uses of Official Receipt Document
Businesses use the official receipt as evidence of payments. However, this is your best proof during auditing that you have done the original transaction by showing the receipt. Similarly, if you are lacking the official receipt, this means that you have no evidence and that can lead to a problem for you. As a result, you can face legal action against yourself and your organization. Businesspersons also make sure that their accounting department keeps a record of all transactions made by them. Moreover, they want complete satisfaction in this regard. Therefore, it’s advised whether you are selling or purchasing anything you should keep receipts with you to support your transactions. Further, all the enterprises keep a record of receipts, because that’s evidence for the purchase of their goods or services. This is also for the purchase warranty in future if there is any claim.
Format of a Receipt
Many different types of receipt templates are available, but there are common sections that should come in the standard receipt. Receipt: The word receipt on the document helps in the recognition of any person who wants to know what this document is about. The word receipt is on the right, left or in the centre of the document. Company Details: This is the second part of the receipt in which company details are on the right, centre or the left. Further, the email, phone number and address is also there. Another important section of the document is the company/business logo. This is in the centre near to the other details. Date & Receipt Number: It is an essential piece of information on the document. Each document has its receipt number. The date is for showing the transaction of the day. Therefore, with the help of these two, you can easily trace your transaction. Customer Details: Another important part of the receipt is customer information which includes name, address, email and phone number. Item Billing: This is the most vital part of the official receipt template. The box is with rows and columns. The first column is about description detail. The second column provides the quality part. The third part is the unit price along with the total. Further, below the row on the total side of the column, there is a subtotal of all the items and followed by a discount and then comes the subtotal less discount. In the next row is the tax rate and tax payable. The last is the amount payable for the goods and services. Signature of Seller & Buyer: This is the second last part of the receipt. This contains the signature details of the buyer and seller. Therefore, it is the acceptance from both buyer and seller. Additional Information: This is the last part in almost all the receipts. You can see the details of mode of payment along with goods and services which are selling will not re-acceptable.
Target Audience For Official Receipts
Small and Large Businesses
The official receipts in businesses are related to budgeting and accounting. Small and enterprise-level industries use them for transaction purposes. Moreover, when you keep a record of internal and external transactions, it’s easy for you to check how you invested your money and how much you have invested to begin your business.
Your Customer will request businesses to provide an official receipt as a witness of purchase warranties. Similarly, customers keep receipts of major purchases like electronics, computers and small appliances as long as they keep these items with them. In the purchase warranty, customers can provide a receipt in exchange for claiming their warranty from the businesses.
Benefits of Official Receipts
Save Time: It’s not easy to design a receipt from scratch. However, if you are the best professional who has expertise in designing or you are the average computer user. It is hard to create from the somewhat challenging ground. The Templates Are Designed For You: The facility of pre-built design takes your burden away for overall designing. Similarly, you can download the template without any cost. That’s why you should not bother creating the document from the scratch. Further, there are a lot of templates with different designs so that each time you get a new taste. Official receipt models are the hardest evidence for the current and past evidence. Further, they are helpful to merchandise in exchanging and returns. Also, they are the best documents that you use for budgeting and reconciling purposes.
The official receipt template is the document that is used as proof of transaction of payment against goods and services from the seller to the buyer. Most business communities keep a record of all the official receipts to keep track of their transactions. The pre-built design facility helps you to remove your burden for creating your new document. You should keep your official receipts with you so at the time of auditing you can show original transactions. This will make you comfortable and keep you away from any legal action against you.