What to include on a receipt
A receipt is proof that a payment happened. It only works as proof if it carries enough detail for someone to understand it months later.
The essentials
- The word Receipt and a receipt number
- The date of payment
- Who paid and who was paid
- What was bought or what the payment covers
- The amount paid, with tax shown separately if it applies
- How it was paid, such as cash, card, or transfer
- The seller's contact details
Add more when it matters
For larger or one-off payments, add detail that would settle a later question. A vehicle sale should include the VIN and odometer reading. A rent receipt should name the period paid. A deposit receipt should say whether it is refundable.
Keep records
Keep a copy of every receipt you issue. A numbered series makes it easy to see if one is missing. How long you should keep records depends on where you are and what the records are for, so ask your accountant.
Honest records only
A receipt should record a payment that actually took place. Do not create receipts for payments that did not happen. That can be fraud.
Questions
Should a receipt show tax?
If you charged tax, show it as its own line so the buyer and your records agree.
Does a receipt need a signature?
Not usually. Some people add one for large cash payments, which can help if there is a dispute.
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General information, not legal, tax, or accounting advice. Rules vary by place.