Whenever you run your own business either small scale or large scale, you have to manage with great deal of record keeping and paperwork. When a customer purchases a product or service from your business, it is essential to write this transaction in purchase receipt followed by purchase registers. Receipt should include the details of transaction so that your business and customer can keep these details as a record of the deal that took place. If you are responsible to write purchase receipts for your business then it is crucial to know about numerous key pieces of information that should be included in the purchase receipts.
Here is preview of this Free Purchase Receipt Template created using MS Word,
Tips to Write Purchase Receipts
Purchase receipts are essential to write in order to maintain accurate record of total business purchases. Following are some important tips to design standard purchase receipt for your own business:
- Header of the purchase receipt should contain the title of receipt and name of your company followed by contact information at the top of purchase receipts. Designate some place to write the name and contact information of the customer who is making purchases with you.
- Write some information about the payment method of the customer. For instance, if the customer made payment through credit card then you have to write the type of card, last four digits of the account and any other important detail. You can repeat the same process with the bank information while payment through check.
- Write details of particular products purchased by customer including description of product or type of service with the special service package. Write total amount charged to the customer for the purchased product or services at the bottom of the purchase receipt with the addition of tax if required.
- Do not forget to write the return policy of the purchase at the bottom or at the back of the purchase receipts to avoid any legal trouble in future. Purchase receipt is usually issued after making full payment against purchased items.
- You have to prepare two copies of purchase receipts one for your own record and other is for purchaser. Manage all receipts in a file according to date and serial number so that you can easily get required data without wasting any time in its search.
- Your tax deduction policy should be cleared and supported by the tax laws of your own state. It is necessary to satisfy potential customers otherwise they can file case against you for the wrong tax deductions.
- Do not forget to place logo of your business on the purchase receipt because it will make your receipt unique and can promote your business to attract maximum customers to you. It is essential to have purchase receipt of each transaction to maintain accurate record in your purchase as well as cash registers.
- Signature of buyer and seller are important so designate special place on receipt for the signature and always design two copies of your receipts to maintain proper record. Always give original copy to your customer and keep duplicate copy with you.
Here is download link for this Purchase Receipt Template,