As a business owner, It is required that you must issue a sales receipt to your customers after a purchase or business transaction. Even if the customer ends up rejecting the slip or throws it away, this little piece of paper is crucial.
The customer’s sales receipt is the evidence that they made a purchase of either products or services, details of what they purchased, and how much they paid, date, time, and any other vital information needed. There are many different forms of sales receipts, it is up to the business management to use the ones that are best suited to the circumstances of the transaction. A sales receipt does not only shield the shopper, but it also protects the store. Here are some of the reasons a seller should print a receipt after any transaction.
Good Financial Records
Receipts are used in good financial reporting to track business revenue. It’s a way to see how much money you make each week, month, or year. Documented sales receipts serve as evidence to accountants and tax authorities that all sales done in your business have been registered. Consumers who purchase with credit cards will appreciate the receipt because it will ensure that all charges and transfers are documented and also, prevents account balance disputes.
Great Customer Service and Experience
Customers value a sales receipt because it documents the amount they were paid for the product purchased or service rendered. The customer will look over the slip and see if the price on the label or online correlates to the final price documented on the receipt. It also serves as proof of purchase and ensures a smooth return operation. Smaller businesses or businesses that file copies of their transactions by individual clients can help these clients in the future. They will check a previous transaction if the company keeps copies of detailed receipts. This is helpful when someone has to reorder anything but can’t recall the exact size or other information.
Protect Your Business from Scammers
You can protect your business from scammers by requiring the presentation of a sales receipt if an item is returned. This prevents shoplifters from returning previously stolen goods to receive cash, and it also prevents people from coming to your business to receive refunds on items purchased elsewhere. Documented sales receipts are also vital for the business since they ensure that all of the money received by the employee or cashier is turned in by the close of business. Another problem is credit card and identity fraud. Receipts with data make it easier for investigators to figure out when and where an object was bought and track down the perpetrator.
Over to you
If your aim as a business owner is to keep reliable financial records then, issuing sales receipts with a good receipt management system will assist you. You don’t have to wait until the end of the day for total sales.
Business management tools like Esopos will keep real-time information in the cloud, so you can check a running total each time you make a sale. Esopos cloud-based software also allows you to “print the sales receipt on the fly while your sales associates are still working.