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Receipt of Payment
6

Receipt of Payment

Receipt of Payment

(OP)
I'm new to owning my own firm. I have been getting checks from clients over the last few months for completed work and I have not been providing a receipt. Nobody has asked for one yet but I feel like it is not good business not to send one and I need to start. Do you send receipts of payment when you receive a check? If so, is it just a simple paid stamp with date and check number on the original invoice or a whole new document? The stamp seems like the quick and easy way to go but doesn't seem as professional as a formal receipt. Thanks in advance for any input.

RE: Receipt of Payment

My invoicing system has a little toggle to send a payment receipt notice whenever I log in a payment. That's the most I've ever done unless somebody has requested a written receipt (occasionally required for inspections at real estate transactions).

RE: Receipt of Payment

Nope. I just send the invoice and then receive the payment. Sometimes I will put in an email "Thanks, payment received" but quite often for the one-and-done projects it's no receipt. Some customers have requested one. And I'm not sure if the Quickbooks system allows the other person to see if their invoice is cleared. But no complaints on my end.

RE: Receipt of Payment

No. We never send receipts. Adds to admin costs. I've never had a request for one in 17 years in business.

RE: Receipt of Payment

I've not done it but pretty sure my online accounting package will do that.

My accountant use the same software and I get an automated response.

Remember - More details = better answers
Also: If you get a response it's polite to respond to it.

RE: Receipt of Payment

Been in business for just over 10 year as a one man operation. I just send an invoice, they send a check and that's it. No one has ever asked for a receipt. I don't think it's a big issue if you are dealing with checks as the check act like it's own receipt (if needed). If you were dealing with cash that is something different and I would agree that a receipt should be given. I have been offered to be paid in cash on a few occasions (usually from sketchy clients), but I have always opted for the check route.

RE: Receipt of Payment

I've been asked only occasionally, and thus I provide without question, and typically these are smaller project clients, and yes maybe with real estate sales involved. Otherwise assuming deposited check confirmation serves as receipt/transaction for both parties. I suppose if we honored refunds for returns on a regular basis more important to give receipt. That said, I hope none of us are ever faced with that situation, if we were, assuming the cost quite a bit more than payment of design services as determined by the lawyers and insurance companies and a hefty hike in our insurance rates the next year! thumbsup2

RE: Receipt of Payment

(OP)
Thanks everybody! I'm just going to wait to be asked to provide a receipt as most suggested. No one has asked for one yet so it seems like the norm not to provide one.

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