A cash receipt is a document acknowledging that something of value has transferred ownership from one party to another — usually, from buyer to seller. Receipt can also be issued by one business to another or during stock market transactions as an acknowledgement of received future payments.
Information Included in a Cash Receipt
Whether handwritten or created in a cash receipt template, a receipt is expected to feature all the necessary information, including:
- Details of the buyer
- Details of the seller or vendor
- The date the transaction was carried out
- Detail of the product or services being transacted, including its name, price and quantity
- Method of payment — cash or bank
- Signature from the seller or from both the buyer and seller
- Return policy
- VAT charges if any
- Total amount paid
Free Cash Receipt Templates
A cash receipt template provides you with a spot to track the name of the one who has made the payment, and that is important information that needs to be tracked. Such a template also offers you space for filling in the amount that was paid and just what the money was used for and why it was given. When you are looking to help someone remember what they have paid and why they paid it, you will be able to use a cash receipt template to help you with that. Such a template includes space for tracking the date of the transaction and more, allowing you to properly track all that has taken place and to create proof of the payment that was given.
There are times when you need to track the money that was paid in by someone, when you need to keep a record of the money that someone paid for a product or a service. There are times when you need to create a receipt for a cash payment that was made, and in those times you need to have a template of some kind around to help you out. When you have a cash receipt template available to you, you will be able to create the kind of receipt that will properly track all that took place and the payment that was made.
There are times when you need to create a receipt for a cash payment, and in such times you will be able to use a cash receipt template to help you out. You will be able to find a template in Excel or Word, and you will be able to put that template to use as you run your business and as you seek to treat your customers in the most professional way.
When to issue a Cash Receipt?
Businesses are expected to issue a receipt to every single one of their customers after every successful transaction. This should be provided immediately a business dealing is finalized.
The receipt shouldn’t be in any way complicated. For instance you could sign and date an invoice, and ta-da! There goes your receipt.
A receipt can also be used as a business record, as well as for preparing your tax returns. It’s for this reason that it’s widely suggested that they be prepared in at least two copies, where one can be safely stored for future reference.