While making payment for purchases of inventory, no matter how huge or small amount is, a purchase receipt dully signed by seller, is always given to buyer as proof of transaction. Remember that it is the duty of seller to provides a purchase receipt once transaction is completed which must reflect; amount of purchase, inventory details, unit of inventory, date of purchase and mode of payment. On precautionary measures, you as buyer make sure, all the content of this receipt is filled with correct information before making payment. In case of any error in receipt, buyer can ask seller to replace it with correct one because the return of purchase inventory or defection report will need original purchase receipt, in order to claim. There are various kinds of purchase receipts which are being used by sellers all over the world and all of them have unique design and layout. There are different varieties of purchase receipt templates which you can select to download from this page and all are given with images to give you ease in making decision.
A purchase receipt is a legal slip which logged by seller when purchaser made payments against the purchase of something, just like a system, product, item, goods, services, tool, equipment or possession of property is called a purchase receipt. We can say that purchase receipt somehow also noted as a bill of payment. Well apart from this in the financial management of business it’s highly convenient for shoppers to ensure that their potential clients have received the purchase receipt & a copy of purchase they already store in their data base. other than that in point of view of purchasers it’s relevant for people to ensure that they’ve timely getting the purchase receipt form sellers, because it’ll serve as an authorized document of company which work as evidence of payment.
Advantages of Purchase Receipt
• It’s including all the relevant data regarding to the purchase
• Helpful for the purpose of exchange and refund
• Essential tool for business to manage their transactions
• Business can check & track as a record for inventory
