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Make a receipt for small businesses

for Freelancers independent contractors and business owners creating and sending out receipts to clients is an essential part of operations so what is a receipt and what is it used for a receipt is a record of payment received for a good or service the provider of the good or service issues the receipt to their customer much like an invoice or a bill of sale a receipt includes an itemized list of the goods and services provided a record of the amount the customer paid and a breakdown of the total change if any due back to the customer in this video we'll dive into how receipts work what information must be included in a receipt and how to make a receipt receipts are used in all levels of business from large corporations non-profits and government agencies to small home businesses and independent contractors the IRS advises that organizations contractors and customers keep their business related receipts on file for at least three years in case of any tax related discrepancies related to their transactions legal requirements to issue receipts vary by state check check out our Resource page linked in the description for more information about each State's receipt requirements so how exactly do receipts work when goods or services are exchanged for payment there is usually an agreement between the provider and the customer about what the goods or services are and how much they will cost a receipt acts as an official record of payment associated with this agreement and can exist as a paper copy or in digital form receipts can be sent as soon as the provider receives payment now that we've covered how to use a receipt we're ready to get started on making one head over to app.invoicemaker.com forward slash receipts to create a receipt online for free the process is user friendly and easy to follow but let's take a closer look at some of the steps receipt number numbering receipts internally helps a business or freelancer keep track of all of their receipts for all customers it also gives the customer a reference number in case they need to revisit the transaction line item create an individual line item with each purchased item's name price per unit and quantity include item descriptions apply discounts and relevant taxes receipt notes add any information about the transaction that is important to record in writing add payment click add payment to accept a payment on the spot or record a previous payment the payment will automatically reflect on the receipt above balance due save click the save button to avoid losing any changes to the receipt preview click the preview button to see how the final receipt will look before locking it download to download the pdf version of the receipt click more then download this will lock the invoice for editing and convert it into a PDF for download share click share link to copy a shareable link to the invoice to then send via any electronic method send click Send to automatically email the receipt to the email address provided in the bill to section and that's all there is to it to download professional receipt templates or generate more custom receipts in seconds head over to invoicemaker.com subscribe for more tips from our freelancing and small business hub foreign