Here is How You Can Convert Paid Invoices into Payment Receipts

If you are a small business your work involves sending invoices and collecting payments with online invoice payment software. It is always a good practice to give receipts to customers who ask for one. While you will not get this request often as most customers pay via check, debit and credit cards, or wire transfer. 

But, what purpose do receipts actually serve? 

It is simply a piece of paper issued by the seller to the buyer. 

It should have a proper format, payment status, signature, receipt number, transaction details, or stamp, and invoice number. 

It is proof that payments have been done and hold great importance in business accounting. Multiple receipts are required by business owners for daily accounting. These include travel invoice receipts, salary slip receipts, purchase invoices, tax return receipts,  sales invoices, and many more. 

All these payment methods have built-in proof of payment methods and you can use them to easily create payment receipts. Luckily, you can provide them with many options with a free receipt generator. These include: 

1. Paid Invoices

Most free receipt generator apps let you print a copy of your invoices. When you receive customers’ payment you will need to have a printed version of the invoice. 

If the customer has paid in full, the solution will print “Paid” and show the outstanding balance as zero. Also, if your customers have made part payment the invoice will display the original balance. So, you can print the receipt with all the details. 

2. Software Receipts

Many small accounting software let you print receipts for payments and store them in your system. Contact your vendor to see if your solution lets you print receipts. If this is possible, apply it to the chosen invoice and then print the receipt. All you will need to do is follow the instructions given in your free receipt generator app and you will get it. You can even check out a free invoice template to make receipts. 

3. Give Out Manual Receipts

If you manage your books manually, you will need to give out handwritten receipts. So, to keep processes smooth you will need to get a book of receipts from your local supply store. But, before you make purchases check the variety of available receipts. Make sure they let you capture all information on receipts. This will make receipt acknowledgment of receipts easier from your customer’s side too. 

The basics you will need to include are payment date, purchase descriptions, customer’s name, invoice number, and signature. It is imperative that manual receipts have a signature. This is because they need to present receipts as payment proofs and prove it is an authentic receipt.

Make sure you keep a record of these invoices as it is very easy to use paper-based receipts. Moreover, they use up space too. 

4. Template

If you do not wish to purchase receipt books you can always depend on a free receipt template. Companies like Microsoft and Apache offer many such templates. With multiple options available, select the template that best serves your needs. Besides, if you have the right skills you can make your own template.  But, make sure you keep a model in front of you to include all important fields. 

5. Paid Stamp

The last option is to give your customers a copy with a stamp. So, all you need to do is purchase a “PAID” stamp from an office supply store. You will get stamps that include dates which are adjustable and others where you can write the data by hand.

All you need to do is print a copy of the invoice and put a stamp on it. Some already include a line where you will need to put your name. This is important to make your paid stamp authentic. 

Wrapping Up

These were just a few processes that you can use to convert paid invoices into payment receipts using a free receipt template. Having receipts is a great way to keep your payments and taxes in check. Besides, it will also help you build a better relationship with customers. An invoicing helps let you manage all the payments that are due upon receipts.  

So, if you are looking for a free receipt solution, let us help you find the perfect fit for your business. 

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