A receipt or payment receipt is a document that certifies the payment for a service or product. This is issued by the creditor or the person who generated the invoice and, therefore, provides the service or product and addresses the recipient of said good or service. This is an integral part of modern trade and every professional entrepreneur must have the ability to provide the receipt.
It is very common that when making invoices, when the client has paid, a payment receipt is issued. In this way, the provider indicates that the payment has been received and the client is aware that the money has reached the creditor.
In other words, it is a proof of payment for both: issuer and recipient of the invoice. Therefore, it is necessary that there has been a payment in advance. It is common to see it in online payments to give extra guarantee.
It also serves so that the client can justify in case of error or doubt that the payment was made and he received it. It serves to establish a relationship of mutual understanding between the creditor and the debtor. Misunderstanding is one of the destructive factors in a business relationship and the payment receipt or sometimes called paystub can be considered as a letter of understanding.
What data should a payment receipt contain?
Interestingly, there are no established criteria regarding commercial regulation on the elements that a payment receipt must include. However there is a series of data to take into account:
– Title: Must be receipt or receipt of payment to indicate the nature of the document.
– Mention to the invoice or concept to which it has been paid
– Amount that has been charged; it should be clear if it should be paid at once or in parts
– Pending amount
– Date in which the payment was received
– Name and business name of the issuer
Other elements such as the logo, e-mail or even the telephone number of the issuing company are also relevant when identifying the issuer. The more complete the receipt includes, the clearer the message will be conveyed to the recipient.
Issue a payment receipt with your billing program
Nowadays, many invoice programs allow managing the entire sales process: from the creation of a budget, to its transformation into a delivery note and later into an invoice.
However, they also include the option to create payment receipts. In this way, the customer can always know if his supplier has received the payment of the invoice and what invoice it is. With this option, several important questions can be answered and even amateur clients can understand all payment details.
For example, this would not be possible when making the invoices in Excel. It would not be done automatically, but the employer would have to do it manually. You may need a billing program that includes the option that when a bill has been entered on an invoice, you can send a receipt to the customer. The customer also has the option to see the invoice to which said receipt refers. Online paystubs are the answer for anyone who needs a practical and fast solution. Not everyone can design their payment receipts and in many cases online paystub services can be very helpful. The more professional a paystub looks, the more professional the company that issued it looks, and vice versa. Hopefully this article can open your eyes to the importance of providing a professional paystub in every activity of your business. Thank you for reading!