Receipt of payment: what is it and how can we draw it up?

A payment receipt is a document that proves that payment for a product or service has actually been made., thus closing the sales process. When referring to goods can serve as proof of ownership, as it is issued by the creditor, who transfers this right in exchange for the payment of a certain price.

It is usual that in a payment receipt, within the balance sheet, information is collected on:

• The goods or services for which an amount is paid.
• Its price.
• The existence of discounts, if any.
• Applicable taxes.
• The total amount paid.
• The chosen method of payment.

It is not uncommon for such receipts to include full information about the seller or service provider. However, the data it collects about the buyer tends to be more limited.

Differences with invoices and orders

It is important not to confuse this receipt with the invoice. (for more information, see this article for more details on what an invoicing programme is). Yalthough both documents are issued by the creditor, in the latter case what is issued is a request for payment, which can be fixed for a certain period of time, e.g. 30, 60 or 90 days.

Nor is the payment receipt the same as the order, since a purchase order authorises the shipment or delivery of goods by expressing the decision to pay the agreed price for them.

The receipt's most widespread function is as a proof of payment, especially in the online environment, where it is used to reinforce the buyer's security and to help him to prove his ownership of the object of the contract, should it be necessary to provide evidence.

What information a payment receipt must contain

This type of receipt is more than a purely transactional document, as it contributes to improving the relationship between the buyer and the seller or service provider by bringing transparency to the agreed exchange.

While there is no form set out in the Law The Commission's proposal for a new regulation is a good example of how the EU should be governed, but it is important that it is taken into account when making one:

• The need to head the document with a title stating that it is a payment receipt.
• The name and company name of the issuer of the receipt.
• Include a reference to the concept for which the payment has been made or to the invoice itself.
• The total amount that the buyer or service taker has paid and the amount that remains to be paid, if any.
• The means of payment used.
• The date on which the payment becomes effective.

In addition, there are other elements that should not be missing. These are the following:

1. The original price of the good or service and any applicable discounts, as well as the applicable tax rate.
2. Additional costs and surcharges that increase this price, which should be detailed in the breakdown of the amount. Shipping costs would be an example.
3. Any other information relevant to the sale, such as the return policy or warranty information must also appear on the payment receipt..