It includes details about the seller, transaction, and purchased goods or services. Cash receipts are significant because, unlike credit card or check purchases, they are the only evidence that a transaction occurred. They are crucial for bookkeeping purposes and tax-deductible purchases.
What to Include
- Buyer information (name, address, phone, email);
- Item description (make, model, year, color, condition, additions);
- Payment method (cash, check, credit card, other);
- Receipt number;
- Received by (seller representative’s name and title/position);
- Seller information (name, address, phone, email);
- Signatures of both parties;
- Summary of charges:
- Cost of item(s),
- Cost of add-ons (if applicable),
- Quantities of items and add-ons,
- Subtotal,
- Tax rate,
- Total taxes due,
- Total amount due,
- Amount paid, and
- Outstanding balance (if applicable); and
- Transaction date.