A cash payment receipt is a common document that is used both between individuals and companies. Whenever there is money transferred from one end to another, there is a need for a receipt. This receipt includes all the important details i.e. why the money is transferred and exactly how much money is transferred. In this post, we will unveil our latest Cash Receipt Templates for our visitors. So they can quickly create their own in the blink of an eye.
Importance of Cash Payment Receipt:
As described above that a cash payment receipt is a legal document that proves there was a monetary transaction between two parties. When you think of money being transferred from one person to another, it’s not complicated most of the time. But everything changes when some amount is transferred from one company to another. Whether we talk about taxation purposes or we just focus on the importance of keeping a record of each transaction being made with the company’s account, there are basically endless important aspects of cash payment receipts. On one hand, it gives an idea of how much money was paid and who received it for what purpose whereas on the other hand, it secures the party who paid it by being legal evidence that the other party has in fact received the payment and can’t claim there is any amount due in the future.
Free Cash Receipt Templates:
Below is a collection of our Best Cash Receipt Templates in MS Word format to help you prepare your own Printable Receipt quickly.
Blue Cash Receipt:
Check out this amazing Cash Receipt that is created in MS Word document in blue theme.
Here’s the download button for this Blue Cash Receipt Template.
Creative Yellow Cash Receipt:
Here’s another yet beautiful Cash Receipt in Yellow theme.
Click on this button to start downloading this Yellow Cash Receipt for free.
Professional Red Cash Receipt:
Grab this professionally-designed Cash Receipt in a red and light-grey color combination.
Here’s the download button for this Red Cash Receipt Template.
Printable Orange Cash Receipt:
Check out this cash receipt that is available in Print-ready format.
Click on this button to start downloading this Printable Cash Receipt for free.
Rental Cash Receipt:
We have created this amazing receipt to create your own rental cash receipt quickly.
Here’s the download button for this Rental Cash Receipt Template.
Corporate Cash Receipt:
This one can be useful for a corporate business cash receipt. You can customize it in the blink of an eye using MS Word format.
Click on this button to start downloading this Corporate Cash Receipt for free.
Guidelines for Creating a Cash Receipt:
Follow the below tips to create an impressive cash receipt.
Introduction to both parties involved:
A cash payment receipt note starts with giving details of both parties involved in the monetary transactions. The first part is the one who is making the payment and 2nd party is the receiver of the payment. This part should include their full names, addresses, and contact details and if possible, names of the companies they work for.
Date of Payment:
For tracking and record-keeping purposes, it’s very important to put a date on the cash payment receipt. This will indicate the exact date on which the payment was made.
The unique tracking number of the receipt:
The basic purpose of a cash receipt is to keep track of payments made in the past and it can’t be done if you can’t track a particular payment to the receiver. There has to be a unique tracking number on the receipt so it’s in the permanent record and when there is a need to track who made this particular payment, who authorized it, and who received it against what services or products, this tracking or reference number will come handy to track all the details.
Type of Business:
This part is not very common but for taxation purposes, multinational organizations and corporations are asked to mention the nature of the business of each involved party. For instance, a car showroom wants to buy new computers from an IT firm so on the cash receipt, they will mention that 1st party ‘buyer’ has a car showroom and needs new computers for their office whereas the 2nd party ‘IT firm’ sells computers. For more of day to day purchases, this part is not mandatory to be added to the cash payment receipt.
Description of Product or Service:
This part of the cash receipt will include full details and a description of the products or services against which the parties are transferring money. For instance, a business has purchased new furniture and they agreed to make the payment on delivery. This means when the furniture is delivered, they will make the payment and it will be described in the receipt that this payment is made against the purchase of office furniture. The same thing goes for the services that are provided to an individual or a company.
This is like the heart of the cash payment receipt because it will include all the crucial details of the payment. Starting with the exact amount that is being paid is written both in numbers and words so there is no error or typo. The next thing would be to include the method of payment i.e. check, cash, or bank transaction. Further, it will include the details of previous payments and the balance to pay the amount after making the current payment but these are mostly used for businesses that regularly do business on credit. When this receipt is used for a one-time purchase, there is just the need for the statement that full payment is made with no balance.
Signature of both Parties:
In the end, a cash payment receipt will be considered completed and it will have legal value only if both parties involved in the transaction sign the receipt. When we talk about these cash receipts, there are usually two copies made; the original stays with the person who paid, and the photocopy goes to the receiver of the payment. Both of these copies need to be signed by both parties.