Why Does A Receipt Play A Crucial Role In All Transactions?

Every business must maintain some record. If you want to be successful, you need to have a business model or plan besides an appropriate method of accounting and a great bookkeeper that will use all the information. But besides everything in your business, you must have a process that will be all about retaining the receipt (ใบเสร็จรับเงิน, which is the term in Thai).

A receipt plays a crucial role, and if you are not aware of the reasons why you need a receipt, then you should check out the receipt sample (ตัวอย่างใบเสร็จรับเงิน, term in Thai) to get some clarity. If you are wondering why you should have the receipt, you should continue reading ahead, as you will get all the details here.

The Primary Purpose Of Having A Receipt Is As Follows

Retaining All The Customer Information

Receiving is crucial as one of the most effective communication elements with clients. It notes all the details of the customer’s purchase, like products and services subtotals, prices, totals, and taxes. Receipts also indicate the purchase date, which is especially important for buyers who look forward to using the receipts to record all the transactions. The receipts also communicate all the policies and offer company discounts for follow-up surveys.

Accounting Internally

Companies need to keep receipts for the accounting process internally. If you don’t know how to maintain a receipt, you can check out the receipt sample to get more clarity. Receipts work as the best documentation of the transactions of the sales whenever your company faces Internal Revenue Service audit. It will note all the discounts on the sales of allowances that would be used for financial or accounting reporting.

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Exchanger Returns

Companies offering return policies need to keep the receipts ready as a crucial part of all the returns or exchanges. Whenever a client gets a wrong product or the size, they typically give the receipt to the concerned person to return the product. If the customer does not produce the receipt, they would not be able to exchange the product for any other product. The receipt will also show the information about the return terms and conditions, like how many days from the purchase date a client can return the item or not.

These are some important roles played by a receipt. You can check the receipt sample to know more.