Want to know what a receipt template is? If that’s the case and you need one, then you are in the right place. We have done some extensive research for the sake of your ease, so you don’t go anywhere else when you need to choose a free receipt template that can help you in doing your day-to-day work without any trouble.
Read this article till the end, and we can assure you will find all the answers to your question. You will never run out of options as we will introduce you to the five best free receipt template options to pick from. Look at the following information and find out what we have for you to look forward to.
What is a Receipt, and Why is it Important?
A receipt is a written confession that something of value has been given from one party to another. Apart from the receipts buyers usually get from vendors and service providers, they are also given business-to-business dealings and stock market transactions.
Whenever you buy something from the market you will receive a slip of the items you have purchased along with the names, number of things, and their price. This slip is helpful for you in getting to know that you have proof of a particular purchase. Receipts are a document that shows evidence of an economic transaction.
You can exchange items based on the slip within a specific time frame. Receipts are also essential for tax purposes as proof of certain expenses. We can say that all the financial dealings that are being done outside require you to have evidence that you have owned something because you have paid for it.
CocoDoc, The Best Platform for Free Receipt Templates
On the official website of CocoDoc, you can now state the authenticity of any payment with their free receipt templates available. Here you can add all necessary fields and sections to invade any challenging circumstance among the parties.
There are many other online sources from which you will access the required template for free, but whatever will be offered at this platform can’t be found anywhere else. It is easy-to-use and allows you to know how you can write one and what blanks you need to fill in the necessary information.
Essential Components of a Receipt Template
Before you are about to create a receipt template, you need to know that as a part of a receipt template, you are supposed to include the following details so later you don’t find yourself missing something significant.
A clear introduction of the vendor who is receiving the payment should be added to the template. You need to emphasize the details of the seller that is buying the product or service. The date of the purchase or transaction should be mentioned within the record.
Don’t forget to add the mode of payment. Apart from that, the receipt number should be stated to let the seller record the purchase and its authenticity. A detail of the purchase amount should be added with all the essential divisions.
You also need to state why the payment of a particular service should be added to the template. In the end, both parties should sign the document and take it across, receiving the amount of the purchase across the receipt.
The Five Free Receipt Templates that you can Avail
Numerous receipt templates are used for different purposes, but some are being used more frequently than others. Find out which ones they are and at what occasions you might probably need to go for one.
A cash receipt is a printed acceptance of the amount of cash that had gotten during a transaction concerning the transfer of cash or equal to cash. Here the original copy of the cash receipt is provided to the buyer, while the other copy is kept by the seller for accounting purposes.
It signifies the transaction of receiving cash from some source. This source could be anything, a buyer paying for the credit purchases, a person paying you to rent for utilizing your tool, interest received on investments, extra funds brought in by the owner to extend the business, etc.
Revenue receipts are the receipts that do not require you to make a claim on the government. That’s the reason they are called non-redeemable. They are divided into tax and non-tax revenues. Tax revenues are an essential element of revenue receipts, and have been classified into direct taxes and enterprises, indirect taxes such as service taxes, customs duties, and excise taxes.
A deposit receipt is an unsettled instrument issued by a bank to display shares in a foreign public company, letting investors trade in the global markets. These receipts let investors invest in foreign firms while trading in a local stock exchange in the investor’s home country.
It is helpful to investors since shares are not permitted to leave the home country that they trade-in. Depositary receipts were made to limit the complications of investing in foreign securities.
As the name suggests, a rent receipt is something relating to the payment made by the renter. This is usually done in cash but can also be paid through credit cards and physical checks to display the tenant paid on time. The receipt is based on the amount paid, payment source, property address, and the landlord’s signature.
Donation receipts are records of charitable contributions that offer donors the forms they require to be eligible for these programs. Such receipts are sown to the donor that a certain amount for donation has been made. Here the slip is utilized when a donation is being made to the social welfare organization.
Difference Between Receipt and an Invoice
A receipt is an acknowledgment from the purchaser to the buyer explaining that the payment has been received. It is the customer’s proof that the payment has been made for a particular item. It is a legal document that does not always tell what the payment has been made for and in what quantities. That’s where an invoice becomes significant to list out the item or service that was the subject of the transaction.
An invoice is a request or a bill for payment in a transaction. It is given by the person selling the items or services or the seller to the person purchasing these goods or services or the buyer. It is a legally enforceable document. In other words, the vendor can utilize the invoice given for a particular good or service to make sure that the payment on that thing is made via legal processing.
There are many online platforms from which you can access the required kind of receipt template, but you will never find anything better than CocoDoc. Here you will be able to access several receipt templates that you can use for the sake of your needs. If you don’t want them, it is better to have some basic idea of the different types and how they can be used.