General Receipt

What is a general receipt?

A general receipt is a document used to provide acknowledgement of receiving payment for goods sold or services provided.

 

What is the differece between a general receipt and a rent receipt?

A general receipt should be used in general commercial transactions, such as the sale of goods. Whereas, a rent receipt should only be used where the transaction relates to the payment of rent by a tenant of a property.

 

Is it mandatory to have a general receipt?

No, it is not mandatory to have or issue a general receipt. However, it is highly recommended and generally accepted as good practice to issue one in commercial transactions.

 

What has to be done once a general receipt is ready?

Once completed, the receipt should be printed and signed by the issuer. The original signed receipt can be given to the recipient, while the party issuing it should keep a copy for their records. In some cases, it may also be good for the recipient to sign the receipt as a confirmation of what is stated in it.

 

What must a general receipt contain?

A general receipt must contain:

• The amount of money received;
• The form or method of payment used; and
• The reason or nature of the transaction;

 

Which laws are applicable to a general receipt?

There are no laws legally requiring the issuance of a receipt, except in relation to charitable donations and rent payments.

 

Help from a lawyer

You can choose to consult a lawyer if you need help.

The lawyer can answer your questions or help you through the process. You will be offered this option when you complete the document.

 

How to modify the template?

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.