Receipts Definition, Characteristics, and Functions of Receipts

Basically, a receipt is a sheet of paper proof of a transaction. Most of us must be familiar with this receipt because this paper is very easy to find when we have completed a transaction.

Generally, this receipt will be accompanied by a complete description of the place, date, and reason for sending the amount. Usually, the recording of transactions will be subject to a stamp duty, as described in the tax law.

Receipt Is

So, a receipt is a proof of receipt of a sum of money that must be signed by the recipient which must then be submitted to the paying party as a proof of the transaction.

In addition, the receipt is proof that the remittance has been sent by the donor to the recipient and has been signed by the recipient in the nominal amount of money in accordance with the letter.

This receipt must be accompanied by an explanation of the place, date, and also the reason for sending the nominal money. Generally, this receipt will be accepted in order to strengthen the transaction receipt on the stamp that has been set for tax purposes.

Another definition of a receipt is a letter or document that is often used as evidence that a transaction has received a nominal amount of money from the donor to the recipient, with various details such as the purpose of the payment or the date and place of the transaction.

The characteristics of the receipt are

There are at least three general characteristics of receipts. The three characteristics of a receipt are as follows:

1. The receipt is divided into two parts. First, the part called the sub-receipt which serves as proof of receipt of money, and the right-hand side which must be forwarded to those who pay or return a certain amount of money.

2. Receipts are made in duplicate where the top or the original will be given to the paying party, and the bottom or file is used for those who receive the amount of money.

3. The information contained in the accounting is the full name of the party giving the money, the amount of money paid, the location and also the date the money was given, the full name, and also the signature of the recipient.

Kinds of Receipts

So far, there are five types of receipts that we can find easily. The five types of receipts are as follows:

1. Product Transaction Receipt

The product transaction receipt will explain the goods purchased by the consumer. This mark includes information about the complete serial number of the goods, the type of goods, the customer’s address and also the price of the goods.

2. Payment Proof of Receipt

This type of receipt is proof of payment received in the form of installments or refunds. The whole thing is a clear hill when you show proof of payment.

3. Money Transfer Receipt

Generally, this type of receipt is used by a banking institution, because this receipt contains clear information, such as by specifying an account number.

4. Cash Receipt

This type of receipt is generally used in the workplace, in which it explains which incoming and outgoing funds will be filed as financial evidence during the next review.

5. Money Handover Receipt

This type of receipt is the most widely used type. In it, you must be able to state the amount of money that has been sent to a person, institution, or company.

Receipt Classification

Generally, the receipt will also be equipped with a stamp which is used as needed to strengthen its legality. There are many types of payment receipts that are generally used by companies in carrying out their transaction activities.

Some of them still use instant receipt books that can be found easily at stationery stores.

So far, several well-known companies often compete in making receipts with shapes and sizes that can be determined based on the requirements that are generally associated with each company logo.

There are eight points that must be considered in making a receipt, namely:

1. This number will greatly assist the company in distinguishing one receipt from another. You can place an order using only numbers or letters. For numeric format, then you can do according to the requirements you want.
2. Full names of those who carry out transactions or agents who make money
3. The nominal money provided is the nominal money written in accordance with numbers and letters.
4. The day, place and date of the transaction
5. Explain the purpose of the payment
6. Full name accompanied by the position of the agency that received the signed money
7. Stamp of the company that received the payment
8. When using a stamp, the signature in it must refer to the stamp made.

Especially for receipts using stamp duty, it must comply with the provisions of the Indonesian Minister of Finance, namely:

1. Transactions whose nominal value is below IDR 250 thousand do not require stamp duty
2. Transactions with a nominal value of IDR 250 thousand to IDR 1 million must use a stamp duty of IDR 3 thousand
3. Transactions whose nominal value is above Rp. 1 million must use a stamp duty of Rp. 6 thousand.

Difference between Receipt, Note, and Invoice

Most of us still don’t know the difference between receipts, notes, and invoices. This assumption occurs because the three of them are considered as proof of a valid transaction.

So, what is the difference between receipts, notes, and invoices? Here’s the explanation:

1. Receipt

As we explained earlier, a receipt is a piece of paper that can be used as proof of receipt of an amount of money that has been agreed upon by both parties, both the recipient and the giver.

Each receipt in circulation will be accompanied by a receipt number, the name of the person who gave the money, the nominal amount of the money, the reason for the payment or transaction, the place and date of the transaction, as well as the signature and name of the party receiving it.

In order for the legality to be stronger, it can be equipped with a stamp duty of Rp. 6 thousand. Later, the stamp duty must be signed by both parties or the recipient. This receipt number is very important in order to be able to distinguish each receipt, and can also be sorted by the time the transaction was made.

2. Invoices and Notes

An invoice is a transaction document that is used to calculate the number of sales transactions. Generally, this invoice is made by the seller which consists of three copies.

The first copy will be handed over to the buyer, the second sheet is kept by the seller for billing, and the third sheet is saved to the company’s invoice book.

While the actual note is not much different from an invoice, which is both made by the seller. However, in general, notes only consist of two copies of paper. The first sheet will be given to the buyer, and the second sheet will be kept by the seller.

This invoice and note are both used only as proof of purchase without using a stamp.

Blank Receipt Case

In the business world, there will always be criminal practices or actions, one of which is by selling blank receipts. The goal, of course, is to make more profits.

Using this consignment receipt, the goal is that it can be filled with a nominal value or amount of money according to the wishes of individuals or those who are not responsible.

A simple example, you are asked to buy 100 units of computers. Let’s say the original price of each unit of the computer is 10 million.