Itemized Receipts

There are different types of official and formal documents that are used in business entities. These documents act as a supportive element to provide basic evidence and reference to various activities and tasks that are carried out in an organization. Over regular periods of time, these documents and statements become part of the standard operating procedures of the business world. All employees carrying out the business activities must follow the rules of these documents and provide side by side their copies and references. Receipts are one such official document that is utilized in both large and small organizations and business entities.

What is a Receipt?

A receipt is a formal written document that reflects the acknowledgment that some product or service with a specific value has been received or transferred from one party to another. In general business terms, receipts are issued by vendors and service providers to their customers and are also frequently used in business to business transactions. Receipts can be used for various purposes including the following:

Receipts are useful for accounting and financial purposes for keeping record of the transactions
Receipts can be used to provide a request for payment
They are a proof of receiving a commodity, service or payment
They can be used for evidence in any kind of dispute resolution or disagreement

An itemized receipt template is a basic statement that contains all the details of the products and services that have been provided to the customer. The itemized receipt is a description of item wise payment that is received or due from the customer.

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