All transactions from a legitimate business should issue a business receipt when payment is made by the customer for some purchase of goods or services offered by the company.
A business receipt is a recording and acknowledgement of the sales transaction performed that has been duly paid for; it closes the transaction with no further obligation by the customer, except for returns and refunds which are subject to the terms and conditions of sale.
A business receipt is similar to a sales receipt that is issued by the company that served the customer with some goods or services.
A business receipt should be issued on the company’s official sheets to avoid future disputes.
Hence, a business receipt usually records:
* Company’s Name & Address
* Company Logo and contact number
* Customer’s Name & Address
* Date of Transaction
* Type of Transaction
* Description of Transaction
* Transaction amount
* Transaction reference number
* Payment Type
* Amount Received
* Payment Method
* Check Number
* Date received
The business receipt can be designed according to the company’s requirement or preference to give it its distinct identify. Although it is usually formally designed, some creative companies can have well designed receipts to reflect their business scope.
The business receipt can be issued in duplicates: one for the customer involved in the sales transaction and the other for the tax purposes by the company.
Consider the attached sample template for your convenience.