Purchase Receipt Template

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A guide to creating purchase receipts easily

Although purchase receipts may seem trivial, they are, in fact, an essential part of many business transactions. They provide proof of purchase made and help to maintain a clear record of the goods sold, the total amount owed to the seller, price details of the products/services purchased, etc.

A purchase receipt is an excellent source of customer data and a repository of critical product information. It helps in establishing the right organizational system for your business. Your company can acquire important supplier and vendor information without sacrificing service quality and efficiency.

Key aspects to note while creating your purchase receipt

Purchase receipt template by LegalZoom. Create and download receipts easily!

1. Keep receipt book

Keep a receipt log to track your sales. It is ideal to have a numbering system in your purchase invoice. It'll prove valuable when searching for a specific sale.

2. Save a copy of your purchase receipts

Be sure to keep a copy of every receipt issued, either by saving an electronic copy on your hard drive or by making a physical copy of the receipt given to your customer.

3. Create an instruction manual

Establish a system for processing sales and tracking receipts. It is essential that all of your employees follow one clear protocol. You may find it useful to create a simple instruction sheet to be kept near the cash register or other point-of-sale locations.

4. Give training to employees

Once you’ve created the instructions and protocols regarding receipts, provide a simple training session for employees. Make sure that the training is offered uniformly. If there are changes to your procedures, provide additional training and supplemental instructions.

5. Details on exchange and refund policy

If you’ve limitations on exchanges or refunds, note those restrictions on the face of the receipt.

6. Asking for regular customer’s basic information

Asking for customer information (e.g., name, address, etc.) is optional. Many businesses request this information to establish and maintain customer lists.

7. Demarcate your purchase receipt with a unique identifier

Purchase receipts can be copied easily. It is better to have a unique identification mechanism to guard your purchase receipt document against fraud and forgeries. In your purchase receipt, you can include a section for staff initials. This will make the receipt unique and prevent you from cheating.

Use a purchase receipt template to create purchase receipts easier and faster

An image of a purchase receipt printed out of the machine.

A purchase receipt should prove useful to your business. If you issue purchase receipts that are complex and cluttered, your customers will have a hard time decoding them. Moreover, organizing receipts will be taxing for you and your customers, too. Hence, it is better to have a purchase receipt template to create your purchase receipts.

A good template provides clear details of the transaction, such as:

Details of the supplier or seller and buyer: Include information about the contact person and contact details.
Purchase order number for record-keeping. It also establishes proof of purchase.
Section to add the date and time when the transaction occurred.
Information about the items purchased, their quantity, and prices.
Details about value-added tax for accounting and tax purposes. You can also calculate your tax deductions and manage your expenses likewise.

With LegalZoom, you’ll get a simple and straightforward purchase receipt template that you can use for an affordable price. Generate your purchase order by providing essential information in our template, customize it to suit your requirements, and download the document in .pdf format.

Frequently asked questions

What is a purchase receipt?

A purchase receipt is a document that acts as proof of purchase of goods and services. A professional company always provides a well-crafted receipt, which includes details regarding the purchases made by the customer.

It provides proof of your transactions and lets you keep data records like pricing, inventory, and popular payment methods. A professional receipt also gives customers confidence in doing business with you.

What necessary information is required to complete a purchase receipt?

To fill out a purchase receipt, you’ll need the following information:

Customer details: Keep the name of the contact person to whom the purchase receipt is sent. Mention the business name and address, too
Payment info: Mention the price of goods purchased, the contact details of the person to whom the payment request should be made, and the payment method used to collect the cash
Other charges: Add shipping or delivery charges and calculate any added tax
Return policy: Brief description of your return and exchange policies

What are the benefits of a purchase order?

Having a purchase order helps in:

Simplified invoice creation
Keeping track of the quantity of goods purchased

For a seller, a purchase order is also a good source to document any important events where they observe a spike in the sale of their products or services. This rich data allows them to create business plans and prepare strategies for future events.

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