Business Receipt Template

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The business receipt template is an acknowledgment of a payment received for a product or service provided by a company. Unlike an invoice, which is given to customers and clients for the ‘demand of payment’, a business receipt will only be issued after the exchange is complete. Businesses will generally require a receipt when requested to return or refund a purchase. A receipt may also be needed to verify the legitimacy of purchase for tax purposes.

Why use Receipts?

Businesses are required to keep receipts for proper record-keeping in order to pay taxes every quarter or at the end of each year. In today’s environment, receipts are mostly stored electronically and the use of a physical receipt is only used when the customer does not provide an electronic option such as e-mail. A receipt must be given to a customer as a record of payment.

Internal Revenue Service (IRS) – The IRS requires all profitable businesses to save their receipts for three (3) years. If for any year a business claimed a loss their receipts must be kept for seven (7) years.

How to Write

Download: Adobe PDF, Microsoft Word (.docx) or Open Document Text (.odt)

1 – A Business Receipt Can Be Issued With This Paperwork

Use the paperwork on this site to document received payment from your Client. First, determine whether you wish to use a word processing program (i.e. Microsoft Word) or a PDF editor to prepare this document with the required information. If you intend to enter information or simply print this document from your browser then, select the button “PDF” or the link “Adobe PDF.” Otherwise, select “Word” or “ODT” for a word processing file. Open this document after you have saved it so that you can enter information directly onscreen or print it.


2 – The Receipt Header Is Expected To Detail The Payee

The introduction to this receipt is composed of a few blank lines meant to document the identity, location, and contact information of the entity that has received the payment being discussed. Produce the full name of this Payee on the line labeled “Company Name.”      This area’s next requirement will request the address location of the Payee or its business mailing address on the spaces labeled “Street Address” and “City, State, Zip.”      In addition to this basic information, you should also document the Payee’s telephone number(s). A labeled space has been included in this area for the Payee’s “Phone” and “Fax” numbers, so enter this information accordingly.

The last header requirement is a blank space labeled “Email” where you should document the Payee’s full e-mail address.


3 – Present The Details That Must Be Recorded

One of the first items that will be used to identify this document is the “Date” it was issued. The first labeled space below the Payee’s information is appropriately labeled to accept this information.    The transaction number attached to this receipt should be unique and placed in the “Receipt #” space.


4 – Document The Customer With The Concerned Payment History

The center of this receipt features a brief table where the information defining the payment submitted can be adequately documented for future reference. Find the four-column table in the middle of this page. Use the first column as a place to record all the quantities ordered by your Business Client. This information must be paired with the “Description” of what was ordered.    Our next request for definitions will be for the “Unit Price” of the ordered business items on this receipt. This how much one piece, one unit, or one service costs.
Finish the row you are working on with the product of the quantity multiplied by its “Unit Price.” This number is required in the “Total” box at the end of the row.     Below the table will be a few more blank lines meant to summarize the financial information documented. First, add all the numbers in the “Total” column then put the result on the “Subtotal” line.  Naturally, the subject of taxes must be addressed. Ascertain the current “Tax Rate” that should apply and input it to the next blank line.      Multiply your reported “Tax Rate” by the “Subtotal” then place the result on the “Tax” line.      “Subtotal” and “Tax” should be added then reported on the “Total Amount Due” line.    Lastly, consult your books, then fill in the line labeled “Amount Paid” with the total dollar amount the Client submitted as payment for the above charges. Make certain that only the amount that was fully received is recorded on this line. For instance, if the payment was made by check, the check must clear for this receipt to be issued.           The “Customer/Client Information” section will request some additional information regarding the payment being defined. The blank lines making up this part of the receipt will need to attach the identity of the Payer on the line labeled “Name.” Enter this information precisely as it is reported on the payment method (if applicable).   Produce the address of the Payer as it is registered with any credit card company or banking institution involved with the recorded payment on the “Street Address” and “City, State, Zip” lines.      If the information is available, produce the Payer’s telephone number and e-mail address to their respective lines in this section.    Directly across the page from the Payer’s information will be a few check box items titled “Payment Method.” You must select the one(s) that best describes how the payment was made. Notice that if this payment was made by check or card then, you will need to produce its number on blank line. Similarly, a blank line has been attached to “Other” so that you may give an adequate description can be supplied if an unconventional method was used for payment.   

5 – Only The Payee Can Execute This Document

The individual responsible for reporting the information above must sign the “Authorized Signature” line to verify its authenticity.        The last line, “Title” has been included so that the position held with the business entity by the Signature Party can be reported as well.