Purchasing is one superpower that probably all people have. Purchase Forms or any proof of purchase is a document or a form of writing that is given to customers when they accept goods or services. It is a way for both parties involved to record their purchase or sale.
Most businesses, both big and small, must provide their customers with a receipt or proof of purchase as usually mandated by government. On the other hand, a customer has the right to ask for a receipt for any purchases they make, which should also be received in a short amount of time.
Vehicle Purchase Receipt Form
Auto Purchase Receipt Form
Purchase Receipt Form Example
Purchasing Card Receipt Form
What a Purchase Receipt Form Should Include
For products or goods
- Business name
Just like any other formal document, a purchase receipt form should include all the necessary details that identify the business supplying the products or goods.
- Date of supply
The date when an item or product is purchased should be indicated in case a return or refund is necessary. The date of purchase can be a basis for refund qualification.
- Details of the product
Details such as the size or weight of the product, number of items bought, and the price for each item should be present in the receipt, as well as the total price and tax spent from the purchase.
- Itemization of the price
Against Purchase Order Forms, the step-by-step processes of a service provided should be shown to give an idea on how the price was worked out.
- Number of labor hours and hourly rate
Most services are usually paid hourly as they do not require a whole day of labor and should be specified in the receipt.
- List of materials used and corresponding charges
Certain services require materials and equipment that need to be rented or acquired from other businesses, so they should also be stipulated.
Purchase Receipt Form in PDF
Free Purchase Receipt Form
Purchase Receipt Form in Word Format
Printable Purchase Receipt Form
Simple Purchase Receipt Form
Why Is a Purchase Receipt Form Important
- Keep track of all sales transactions
The basic purpose of a purchase receipt is to record all transactions that took place during the day or any particular period of time. This is very helpful during inventories and making financial or sales reports.
- Keep track of purchases
Customers can also keep track of their purchases in order for them to generate a sustainable budget for their home and personal consumption. It is important to maintain a budget to avoid overspending.
- Replacement, return, or refund
There can be instances where a product’s damaged areas and poor quality can only be observed or identified by the buyer after the purchase has already been made. This is the reason why companies allow product replacements and returns or even full refunds should the instance be proven to be a result of a business’ unsatisfactory service or product offer. To qualify for any of the above mentioned privileges, a proof of purchase should be supplied in the receipt.
- Show professionalism
A purchase receipt form indicates that a business is legitimate and is a way to gain trust from customers and clients. With a purchase receipt form, a business can look professional and discrimination is avoided.
- Future purchases
Previous purchase receipt forms can be used as a reference for similar purchases in the future. Like Purchase Requisition Forms, storage personnel can copy previous forms that contain common items.
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