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Frequently Asked Questions

This page provides you with frequently asked questions and answers regarding to receipts and invoices.

What is a sales receipt?

A sales receipt is a document that records the sales transaction details. Vendors issue sales receipts to consumers at the time of the sales transactions when the money is exchanged, typically at the point of sale.

A sales receipt contain information about the sales including seller name and contact details, a list of purchased items with prices, tax, subtotal, the sum, form of payment e.g., cash, credit card, etc., as well as return or refund policy.

Customers save sales receipts for many purposes e.g., tax preparation, employer reimbursement, and personal accounting.

To create sales receipts, check it out the sales receipt template section.

What is a rent receipt?

A rent receipt is a document that acknowledges that on a specific date a tenant pays for the rent on a premise a specific amount of money. A rent receipt shows the tenant’s name, amount of rent, address of the rented property, period of rent and date of payment.

It is required that landlords provides tenants with the rent receipts. Tenants use the rent receipts to keep track of the rents as well as for tax preparation and personal accounting purposes.

To create rent receipts, get a rent receipt template to make it easier.

What is a donation receipt?

A donation receipt is a document that records a payment for a donation to a charity organization.

A donation receipt contains name, contact information of the charity organization, donor’s name, date, amount of the donation and signature of the authorized representative of the charity organization.

Donor’s use the donation receipts for tax deductions and accounting purposes.

To create donation receipts for your charity organization, you can a donation receipt template.

What is a deposit receipt?

A deposit receipt acknowledges a receipt of funds in private sales which buyers give the sellers for an agreement. In case of a rental, a deposit receipt records a rent deposit or security deposit that tenants give to the landlord as a part of rental contract.

A deposit receipt contains information on buyer and seller, amount, date, purpose of the deposit and the signature of the deposit recipient i.e., a seller or a landlord.

To create a deposit receipt,check it out the deposit receipt template section.

What is a cash receipt?

A cash receipt is an accounting document issued by a business when cash is received for goods or services.

What is a petty cash receipt?

A petty cash receipt is a receipt that records cash taken from the petty cash fund. The petty cash fund is used to cover minor cash expenses e.g., parking and office supplies.

To create a petty cash receipt, you can use our petty cash receipt template.

What is an invoice?

An invoice is a commercial document that a seller or service provider issues to a buyer, specifying that the seller or service provider has delivered products or services to the buyer with specific quantity and prices. The seller or service provider issue an invoice to ask for the due payment therefore the invoice typically includes payment terms.

If you want to create invoices, feel free to download the invoice templates to start.

What is a quote?

A quote provides a prospective customer with the costs associated with products or services. Based on the information provided by the customer, a business can issue a quote with detailed information on the products or services e.g., unit price, discount, etc.  A quote is sometimes referred to as a quotation.