Deposits are normal in some transactions where a small amount of money is placed with the supplier of goods or services before the goods are delivered or the services rendered. Deposits are a form of guarantee that the customer is a keen purchaser of a certain good or service. But some deposits are non refundable if the customer changes his mind about purchasing the goods or continuing with the service.
Hence, there are certain terms and conditions which a deposit receipt would need to include. A deposit can also be deducted from the total payment upon delivery and full payment of product or service conducted. Some deposits are refundable as in house rental where a deposit of 1 or 2 months rent is the norm.
Hence, a deposit receipt template can contain the following columns in its header:
* Customer’s name & address
* Customer’s contact number
* Supplier’s name & address
* Deposit amount
* Purpose of deposit
* Payment type for deposit
* Terms and conditions
It is important for the depositor to read and agree with the stated terms and conditions which will enable him to get back his deposit, if applicable.
Check also if any surcharges or interest will be accrued before signing the deposit receipt. The supplier’s information must be correctly stated to facilitate investigations should a dispute arise in the future.
There should be two copies of a deposit receipt; one for the customer and the other for the supplier.
Consider the attached sample template for your convenience.