Free Receipt Templates (Rent, Sales, Cash, Donation, etc.)

A receipt is a document that acknowledges payment for the sale or transfer of goods or provision of other services between two or more parties.

A receipt issued by a merchant/trader should contain vital information concerning the transaction that must include the date of payment, the amount received, the type of payment, a description of the goods or service, and the name of the individual that accepted payment. A receipt is considered a support document because it acts as proof of payment; it must be kept for at least three years. However, businesses that claim loss of tax for any year must keep their receipts for seven years. While a receipt is a document confirming payment of goods or services by a customer, an invoice is a document issued to request compensation for goods or services.  Therefore, invoices are issued before payment for goods or services is made, while receipts are issued after payment of goods or services.

What is a Receipt Template?

Receipt templates are documents that enforce a standard layout when creating receipts used to meet the different needs of a business.

Receipt templates will save writing time for the issuing party and enable them to issue multiple receipts. Receipt templates also break down the content, making it easy for customers or clients to read the information contained in them. The standard format of receipt templates should enable issuing parties to convey all relevant information concerning the transaction. It is therefore critical that receipt templates consist of the following information:

• Names, addresses, and contact information of the transacting parties
• The payment amount
• The date of payment
• Receipt number
• The method of payment, e.g., cash or check
• Item or service description
• The payment recipient’s signature

Businesses, companies, and individuals use different types of receipts to meet different needs. The following are the different types of receipts issuing parties may use:

More Templates

A receipt helps the issuing parties to break down transaction information into different sections. The standard format of a receipt also ensures uniformity of the content demanded. It is therefore essential that an issuing party adheres to the following step by step process when making a receipt:

Enter the date

When writing a receipt, the issuing parties should first ensure that they write the full date of the sale. Entering the date of sale ensures that the issuing party can identify when a sale was made to a client.

For example:

Date: April 5^th,2020

Create a unique receipt number

Secondly, the issuing parties must ensure that they create unique receipt numbers in their receipt templates. A unique receipt number ensures that the issuing party can keep track of each sale of the day.

For example:

Receipt number: 04235

Add business details

Thirdly an issuing party must ensure that the receipt contains vital business details. This information is proof that the issuing party made the sale, and it will help the clients contact them should they need to. The business details should include the business name and address (City, State, Zip Code). A phone number or email address that clients can use to contact them must also be included.

For example:

Telco Company Inc.
1246 Main St,
Fresno, CA 950032
(555) 246-146
[email protected]

Enter the amount of money paid

The Issuing party’s fourth step in making a receipt should be to enter the payment amount in both words and figures.

For example:

Amount Received: Six hundred and seventy dollars             $670

State the product or service rendered

The fifth step the issuing party must take is to state the product or service rendered. This helps the issuing party identify the product sold or services rendered to the client.

For example:

For Payment of: Sale of Record Player

Payment method

Next, the issuing party must ensure the method of payment used is indicated in the receipt. The issuing party can receive payment in cash, check, or credit card or through other methods, for  example:

Payment method:            Cash: Check:  Check Credit Card:  Other:      

Check number (if applicable)

If payment has been made via check, the issuing party must ensure that the check number is indicated.

For example:

Check number:  10010012356

Credit card details

Suppose payment was made via credit card, then the issuing party should include the necessary credit card details,

For example:

Credit card Number: 1234 5678 9312 3476

Enter names of the seller and the buyer

The issuing party must then enter the names of the seller and buyer. This ensures that the receipt contains the names of the parties involved in the transaction,

For example:

Payment made to: Telco company Inc        Payment made from: Ann Mathews.

Add signatures

Finally, the buyer and the seller must indicate their signatures in the receipt. This certifies that the parties have taken part in the transaction.