What Is an Online Payment Receipt and How to Create It on Mobile with GimBooks

A payment receipt is an essential document that acts as proof of payment between a customer and a business. In this blog, we’ll explore what a payment receipt is, highlight its important elements, and show you examples to help you grasp why it’s so important for maintaining accurate records and managing finances effectively.

What Is a Payment Receipt?

A payment receipt is an official document given to a buyer as proof of payment—whether partial or full—for a product or service. It acts as a confirmation that the seller has received the agreed amount, providing both parties with a clear record of the transaction. Payment receipts are essential for maintaining transparency and trust between buyers and sellers, helping to avoid disputes or confusion later on.

They also play a vital role in financial management, bookkeeping, and tax reporting for businesses and individuals alike. Whether you’re making a one-time purchase or ongoing payments, keeping payment receipts organized is key to tracking your expenses and payments effectively.

What is included on a Payment Receipt?

There is no specific requirement for what information must be included but generally, the following details are included:

1. The seller’s name/ logo
2. The original invoice number
3. The date when the payment was received
4. The amount received
5. Any remaining amount due.

Why issue a payment receipt?

A payment receipt is issued for the buyer/customer as the record or the proof of the payment that they have made for a service or product.

Payment receipts & invoicing software

Creating a Payment Receipt might seem like an extra step but no more. Creating an online Payment Receipt is now very convenient, fast and easy.

Send a payment receipt in just a few clicks with easy invoice manager app. It is one of the best App for creating Payment Receipts.

How to create a Receipt for Payment in GimBooks?

You can download the app on Google Play

So without any further ado, let's see how you can create your first Quotation on mobile through GimBook’s easy invoice manager app

1. You might have created an invoice beforehand. So click on the invoice for which you want to create Payment Receipt.

2. You will see 3 options below the invoices

• Send Reminder
• Collect in Bank
• Record Payment

3. Click on ‘Record Payment’. The amount of the invoice will appear there.

4. Then Select the payment Mode

• By Cash
• By Cheque
• Net Banking

5. Then Select options from the Treatment

• Against Bill
• Advance
• On Account

6. Select the Bank Account And if it does not appear, then click on the ‘add account’ and fill in the Bank Details.

7. If you want to put any ‘Remarks’, you can.

8. Click on the ‘Save’ icon and the total amount will appear on the screen. Click on ‘Proceed’.

9. Your receipt is created and you can see it in ‘Preview’.

You have the option to save / share / download / print the invoice.

By now it must be clear how easy it is to generate your Online Payment receipt on mobile through Easy invoice manager app. If you have any doubts, you can contact us.

Conclusion

Payment receipts are essential documents that confirm financial transactions between buyers and sellers. They provide clear proof of payment, help keep accurate financial records, and offer protection in case of any disagreements. By knowing what to include in a payment receipt and why it matters, businesses and customers alike can ensure transparency, better financial management, and stronger trust throughout their transactions.

Also read
What is Online Quotations. What? How to create in GimBooks?How to create your first e-invoice in mobile with GimBooks?

FAQs

What are payment receipts?

Payment receipts are documents issued by a seller to a buyer as proof that payment has been received for goods or services. They confirm the amount paid and the details of the transaction.

How to write a payment receipt?

To write a payment receipt, include the seller’s name, buyer’s name, date of payment, payment amount, description of the product or service, payment method, and any remaining balance. It should be clear and easy to understand.

What are the uses of payment receipt?

Payment receipts serve as proof of purchase, help resolve disputes, assist in financial record-keeping, and are useful for tax and accounting purposes for both buyers and sellers.

What is a proof of payment receipt?

A proof of payment receipt is a document confirming that a payment has been successfully made and received. It acts as evidence in case of any payment disputes or for record-keeping.

How do I confirm a payment receipt?

To confirm a payment receipt, verify the details match the transaction, such as the payment amount, date, and parties involved. You can also check with the payment processor or bank for confirmation.

What is the difference between a payment receipt and an invoice?

An invoice is a request for payment detailing the amount owed, while a payment receipt is proof that payment has been received. The invoice comes before payment; the receipt comes after.

What is a receipts and payments record?

A receipts and payments record is a financial document or ledger that tracks all incoming payments (receipts) and outgoing payments (expenses) for a business or individual over a period of time.

Is a receipt a receipt or payment?

A receipt is a proof or record of payment received; it is not the payment itself. It confirms that a payment has been made.

Do I need to send a receipt?

While not always legally required, sending a receipt is considered good business practice. It provides proof of payment to the buyer and helps maintain clear financial records for both parties.