How to Generate Sales Receipts?
1. Choosing a Format: An establishment should decide the format for the sales receipt. It can be a paper-based receipt or a digital one, depending on the preference and the requirements of the business. It is the foremost step in generating the receipt. Sellers can choose various software or online receipt generators for creating receipts. He can also opt for handwritten receipts.
2. Business Information: Receipt must include business name, address, contact information, and other relevant details such as GSTIN, website or email address. This information helps the customer to check the legitimacy of the business and allows them to reach out if needed.
3. Receipt Number: Seller must assign a unique receipt number to each sales receipt for record-keeping. This helps in organizing transactions and facilitating record-keeping.
4. Transaction Information: Seller should include all the details in the receipt of the transaction made such as product name, quantity, price, discount, tax rates, total tax payable, total amount paid., etc.
5. Handing over to Customer: After including all the relevant details of the sales made in the receipt, the seller must hand over the receipt to the customer.