Money is the standard entity used in any formal transaction; hence, it is important to track how it is used. In a business transaction which involves money, it is important to receive a receipt upon payment.
A money receipt is proof that the item purchased has been paid for. This piece of paper avoids misunderstanding and embarrassment to the buyer who might, otherwise, be accused of shoplifting or stealing.
It is common practice today that all transactions, no matter how small or simple, should be issued receipts; even the restaurants and grocery stores adopt this practice today to avoid unfavorable circumstances.
A money receipt can be very simple. Sometimes it is just a small piece of paper which tracks all items purchased as in the supermarkets, making it quite long.
Hence, a money receipt template usually registers:
* Receipt number
* Date of transaction
* Received amount
* Received from
* Received by
* For (description of purpose)
* Type (cash, check and credit card)
The above suggested columns of information on a money receipt are dependent on the type of transaction done and the environment of the transaction.
A money receipt can also be issued in duplicates for accountability and tracking purposes. One copy is given to the customer while the duplicate copy is kept by the seller who can track the purchases performed in a day, week or month. It also helps to balance the accounts.
Consider the attached sample template for your convenience.