An Acknowledgment Receipt is a simple document that acknowledges receipt of cash or goods. It is usually used to record the movement of cash, documents or goods from one person to another. It is important to note that this Acknowledgement Receipt is not an official receipt that is required by the Bureau of Internal Revenue for persons engaged in business.
How to Use the Acknowledgement Receipt
An Acknowledgement Receipt is usually drafted by the person making the delivery and is signed by the person receiving the delivery. To complete this Acknowledgement Receipt, the user should enter the name(s) of the person(s) who will make the delivery and the description and amount or quantity of the object to be delivered (this could be money or goods or both). The user may also enter the date and purpose of the delivery and the name(s) of the person(s) who will receive the delivery.
Once the document is completed, the user should print at least two (2) copies of the Acknowledgement Receipt: one copy for the person making the delivery and the other person who will receive the delivery. The person(s) receiving the delivery should enter their name(s) and date of receipt, if it is not yet included in the Acknowledgement Receipt, and sign all copies of the document. The person making the delivery should always keep the original copy of the Acknowledgement Receipt.
An Acknowledgment Receipt is not governed by law when it is not used by any person or entity engaged in business. Otherwise, the National Internal Revenue Code of 1997, Revenue Regulation No. 18-2012, Revenue Memorandum Order No. 12-2013, and Revenue Memorandum Circular No. 64-2015, among others, governs the printing and issuance of receipts, invoices and commercial invoices.
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