Many people don't know how to write a receipt, whether it's for the sale of a personal item or for a business transaction. In order to make a document a true receipt, it must contain certain specific information. A written receipt can be used in business records and to make note of sales. It is also useful to the customer to show proof of purchase.
Quick Sales Receipt
For a personal transaction, such as selling a piece of furniture or a purebred puppy, you can generate a quick sales receipt. With just a piece of paper, the seller can write his name or the name of his business, the date, a brief description of the item that he sold and the price of the item. A signature will finalize the written receipt. If possible, the seller should make a copy of the receipt for business records. If there is no way to make a copy, the seller should record the details of the sale in a receipt book.
Many people who sometimes write out receipts for a home business or hobby may want to purchase a sales receipt book for easier record keeping. This pre-printed booklet can be purchased at any office supply store and many retail stores. It is made up of blank receipts with carbon copies. Just fill out the date, name of seller or seller's business name, a description of the item, the sale price and a signature, and give one copy to the buyer. The carbon copy stays in the receipt book for easier receipt management.
Car Sale Receipts
Many people sell vehicles on their own; therefore, a receipt needs to be generated for the sale. This receipt is more formal than a regular receipt and is called a "Bill of Sale." You can download these forms from the Web site for your state DMV. A Bill of Sale typically includes the car's VIN number, make, model, registration number and the mileage. The Bill of Sale should also have the wording "sold as is" so that the buyer assumes all responsibility for any problems, breakdowns or other issues with the car after purchase.
Accounting for outstanding checks can be time-consuming and troublesome, but you'll want to make sure you do so on a regular basis to prevent serious balance sheet reconciliation problems later.