Itemized Receipt Templates for Word and Excel

When you buy things, you usually receive a receipt at the end of your transaction that shows how much you paid and what you paid for. When making purchases from a merchant, a more substantial receipt may be required, such as an Itemized Receipt.

An Itemized receipt is used between buyers and sellers that show proof of payment and goods paid for. It also lists all of the items, including any one-off charges that you are paying for, how many units of that item were bought, and a breakdown of any discounts or taxes.

Why are Itemized Receipts Important?

If you are using receipts when filing your yearly taxes, it’s important to use itemized receipts to identify and separate what is taxable and non-taxable, especially in business. They are important when claiming business expenses like deductibles, for example, meals and entertainment when hosting business associates and clients, or for travel and hotel expenses when you are traveling away to meet with business associates and clients.

Itemized receipt also works to protect the payee from being charged for something they should not have been. You can request an itemized hospital bill, for example, that gives a breakdown of everything that you have been charged and paid for. It makes it easier to question any charges that may not seem legitimate in several scenarios.

What is the Difference Between a Simple Receipt and an Itemized Receipt?

You’re probably wondering what the difference is between these two types of receipts. A simple receipt requires less detail and will usually state a basic description of what was purchased and paid for.

An itemized receipt shows much more. It breaks down each item and expense paid for, how it was paid for, and any other charges outside of what was paid for the items. For example, if you purchased building materials from a merchant and you will be claiming the expense when filing taxes, the receipt should have an itemized list of each product bought, how many of each, and taxes charged. It will also detail how you made that payment, such as cash or a credit card.

What is the Difference Between an Itemized Receipt and an Invoice?

An invoice is used as a means of billing a person for products and services and is issued before any payment is made. An Itemized Receipt is given after payment has been made.

How to Write an Itemized Receipt

Each itemized receipt will differ from one business to the next. However, there are key components that need to be included on an itemized receipt.

You can download one of our free templates or samples to get a better idea of what an itemized Receipt should look like.

Merchant Details

The first thing that should be on the itemized receipt is the details of the merchant. This should include the merchant’s name, full address, phone number, and email address.

Date and Receipt Number

On the next line of the receipt, you should include the date that the receipt was created. You may also wish to include a receipt number as a way to identify the receipt when doing paperwork.

Payee Details/Sold To

The next section should include the name and address of the individual who is paying for the goods or services. If the payment is being made on behalf of an individual or another business, the name of that person or business should be included under the name of the person present the payment on their behalf.

Itemized List

Now we get to the main part of an itemized receipt. The following needs to be included:

  • Description – gives an explanation of the item that was paid for. Each item needs to be on its own individual line.
  • Units Purchased – gives the number of units that were purchased
  • Price per Unit – shows how much one unit costs
  • Subtotal – this line shows how much was paid before taxes or discounts were made. This is calculated by multiplying the unit price by the quantity purchased. For example, if a unit of wood costs $2.00 and 10 units were purchased, the total would be $20.00
  • Shipping Charges – if you have charged the customer to have their merchandise shipped to them, you would add that cost here.
  • Discount – used for detailing any discounts given on the purchase
  • Taxes – used to detail how much was paid in taxes
  • Total Amount – the total of the receipt takes into account the subtotal, discount, and taxes to give a final bill amount.
  • Amount Paid – this is where you give details of how much was paid
  • Payment Method – on this line, you would write how the bill was paid, for example, paid in cash, by credit card, bank transfer, check, or a combination of payment methods.

If the items purchased are being shipped, you should also include a shipping date and a shipping address if it is different from the payee’s address.

Free Receipt Templates

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      Times You Will Need More Information

      There are instances where you would need to have more than one receipt or piece of information.

      • Meals – when claiming a meal as tax-deductible, you would need one receipt that details what was bought and a second receipt that details how you paid for the meal. This is usually a requirement when submitting receipts for reimbursement.
      • If you are only given a receipt that shows the itemized purchase but no method of payment, you may need to include a copy of your credit card or bank statement that shows the purchase was made.

      Frequently Asked Questions

      Does the IRS require itemized receipts for meals?

      Any expenses that cost under $75.00 does not require that you hold onto receipts, credit card slips, or other documentation.

      Are stores required to give itemized receipts?

      This can depend on that State. For example, in Ohio, it is not stated that an itemized receipt must be given. However, if the store says you have to present an itemized receipt in order to make a return, then they must give you an itemized receipt at the time of purchase.