A lot of business establishments still make use of receipt books when it comes to tracking down purchases, knowing they are securely recorded here. Whatever business you may be involved in, it is always necessary to have a record keeping system not only to know what comes in and what goes out, but also because it may be required for government purposes. Your tax returns depend on them too. Although a lot of businesses have gotten into the cash register method for receipt purposes, there are still a great number who work on them manually. This may be because they only accept payments in cash, don’t have a cash register, or simply enjoy going through the process of filling out these receipts. Filling out a receipt book does not require special skills. Here’s how you can do it:
- When selecting a receipt or invoice book, always remember that you will need to have two copies for each transaction performed. One copy will go to your customer and the other one stays with you. Your copies can be left on your receipt book until you start doing an accounting of your sales.
- Use a pen when filling out your receipts, preferably the ones with black or blue ink. Write down entries firmly and steadily so that your writing is not only clear on the original copy but on the duplicate copy as well. This will make sure that you will be able to clearly read what was written, primarily the purchases and amounts for your accounting purposes later on.
- Start filling in your order receipt with the date the transaction was made. If a particular transaction calls for an item to be shipped, fill in the shipping date instead. You may also use your receipt to serve as an invoice should you have a particular deal with a customer to pay for a purchase at a later date. Fill in the date of the delivery of the purchased in its place.
- A complete description of the item purchased must be included as well. This includes the name of the item, style, and other descriptions of the items bought. This must be filled in on separate lines on your receipt with sufficient space to place in other necessary data. You can also use certain abbreviations for your products that you already assigned to each item and which you and your employees recognize.
- Receipt books normally come with an area for you to fill in the quantity and cost for items bought. Make sure to fill them in correctly. This will make it much easier for you to do your accounting through multiplying the quantity with the price per item bought. The last column should contain the total sum of each item. You can now add up all the totals to come up with a sub-total, which now goes at the bottom of your receipt.
- Add the name or employee number of the person doing the transaction either at the top or bottom area of the receipt. Should there be any questions regarding the said transaction, you will be able to easily identify the person who can best answer your questions.
- The last step would be to do a calculation of tax due. This will be written at the bottom area of your receipt.
Receipt books are one of the most efficient tools to use for any
business. As long as you fill them in properly with all the important
details, keeping track of your records will be quite easy and your
business can run smoothly.