An itemized receipt is a simple document that is issued to a customer by a seller as a proof of purchase. The receipt contains vital details about the transaction, including the names and addresses of the merchants and the customer, and an itemized list of the goods purchased. This list includes the product description, quantity, price, tax, and any discounts besides the total amount paid for the goods.
What Does an Itemized Receipt include?
An itemized receipt contains the following details:
Receipt number: This is a unique number that identifies the receipt
Date: It refers to the date of purchase.
Name, address, and contacts of the merchant: This information is critical in case the buyer wants to contact the merchant later.
Name, address, and contacts of the customer: If the seller wants to contacts the buyer, they can use these details. Again these details indicate the parties that were involved in the transaction.
Product description: This is a short phrase that identifies the type of goods being sold.
Quantity: It is a number that refers to goods the buyer purchase from the seller.
Price/unit: It refers to the price of a single piece of product.
Line total: It refers to how much the buyer for each product purchased factoring in quantity.
Subtotal: It is the sum of the figure in the total line column. It refers to the amount the buyer should pay for the purchased goods before any tax or discount is applied.
Discount: If the seller is offering any discount to the buyer, it’s indicated in this section.
Sales tax: It refers to tax applicable to this transaction.
Total also referred to as total: It is the amount the buyer should pay for the purchased goods after discount s and taxes.
Amount paid: It is the exact amount of money the buyer pays for the goods. It may be equal to the total, or the buyer may decide to pay in installments.
Payment method: It refers to the mode of payment for this transaction. It may be cash, check, debit, or credit card.
Card/check number: If the buyer prefers to pay for the goods via check, debit, or credit card, the card or check number is indicated in this section.
Using Itemized Receipt Templates
Although you may decide to create itemized receipts from scratch, this can be a daunting task, and the best option would be to use our templates. Look at the different types of templates available from us and choose the one that suits your needs. Our itemized receipt templates are easy to use, and you can customize them to your desired fit. We have itemized receipt templates for nearly all kinds of stores you can think of, including liquor stores, restaurants, groceries, clothing stores, boutiques, etc.
Difference Between an Itemized Invoice and Receipt
- An invoice is a document that is used to request for payment while a receipt is a document that is used to prove a transaction and payment for goods and services has been done.
- Ordinarily, an invoice is issued before a transaction, while a receipt is issued after the transaction is complete.
- An invoice is a vital document that is used in tracking goods and services while a receipt acts as a confirmation for payment.
- An invoice indicates the amount due while a receipt records the total amount paid for the goods or services.