Whenever you run your own business either small-scale or large-scale, you have to manage a 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 the purchase receipt followed by purchase registers. The receipt should include the details of the transaction so that your business and customer can keep these details as a record of the deal that took place. If you are responsible for writing 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 are previews and download links of these Free Purchase Receipt Templates created using MS Word and Excel,
Tips to Write Purchase Receipts
Purchase receipts are essential to write in order to maintain an accurate record of total business purchases. Following are some important tips to design standard purchase receipts for your own business:
- The header of the purchase receipt should contain the title of the receipt and the name of your company followed by contact information at the top of purchase receipts. Designate someplace 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 a payment through a credit card then you have to write the type of card, the 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 customers including a description of the product or type of service with the special service package. Write the 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 the future. A 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 the other for the purchaser. Manage all receipts in a file according to date and serial number so that you can easily get the required data without wasting any time in its search.
- Your tax deduction policy should be clear and supported by the tax laws of your own state. It is necessary to satisfy potential customers otherwise they can file cases against you for the wrong tax deductions.
- Do not forget to place the 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 receipts for each transaction to maintain an accurate record of your purchase as well as cash registers.
- The signature of the buyer and seller is important so designate a special place on the receipt for the signature and always design two copies of your receipts to maintain proper records. Always give the original copies to your customer and keep a duplicate copy with you.