A paid (in-full) receipt is created for a buyer as proof of full payment on a purchase. The seller gives it to the buyer when they have delivered the money owed in exchange for the purchased goods or services. A seller can only issue this receipt when the buyer holds no outstanding balance on the total purchase price. Buyers should save these receipts as proof that they no longer owe any money toward the purchase.
What to Include
- Buyer information (name, address, phone, email);
- Confirmation that the buyer paid the total amount due in full;
- Description of the good or service exchanged for payment;
- Payment method (cash, check, credit card, other);
- Receipt number;
- Recipient information (name, address, phone, email);
- Signatures of both parties;
- Summary of charges:
- Cost of the purchased item or service,
- Cost of add-ons (if applicable),
- Quantities of items and add-ons,
- Subtotal,
- Tax rate,
- Total taxes due,
- Total amount owed, and
- Total Amount paid; and
- Transaction date.