Understanding Payment Receipts

Download payment receipts of your orders on Bajaj Finserv.
Understanding Payment Receipts
3 mins read
31 May 2024

Understanding payment receipts

A payment receipt is a formal document acknowledging the payment made for a product or service. It stands as conclusive proof of purchase and is provided by the seller to the buyer, encompassing details such as the payment date, amount paid, seller's name, and buyer's name.

Difference between receipts and invoices

It is crucial to note the distinction between a payment receipt and an invoice. An invoice precedes the payment, furnishing details like seller and buyer names, transaction date, product or service description, and the amount due. Conversely, a payment receipt is issued post-payment, outlining the payment date, the amount paid, and the names of the seller and buyer.

The significance of payment receipts

Payment receipts carry substantial importance for both buyers and sellers. For buyers, they function as tangible evidence of purchase, aiding in expense tracking. Sellers benefit as well, as payment receipts serve as comprehensive transaction records, facilitating accurate monitoring of payments received.

Issuing payment receipts: A seller's perspective

Issuing payment receipts is a pivotal practice for sellers. Beyond meticulous payment tracking, it plays a crucial role in resolving potential payment disputes between the buyer and seller. The payment receipt, as an official document, reinforces the transparency and legitimacy of the transaction.

Buyer benefits: Proof of purchase and expense tracking

For buyers, a payment receipt extends beyond a mere acknowledgement. It stands as concrete evidence of their purchase, serving as a valuable asset in effective expense management. The receipt provides a clear and organised record of financial transactions.

What is included on a payment receipt?

A payment receipt acts as proof that a transaction is complete. While specific requirements might vary, it typically includes:

  • Seller information: Business name, address, and sometimes contact details.
  • Payment details: Date the payment was received.
  • Amount paid: Total amount of money received for the transaction.
  • Includes:
    • Invoice number (for reference to the original purchase).
    • Payment method (cash, card, etc.).
    • Breakdown of items purchased (for some receipts, not all).

How to check a payment receipt online on Bajaj Finserv

To check a payment receipt online on Bajaj Finserv, follow the steps below:

  1. Download the Bajaj Finserv app from the Google Play Store or App Store and install it on your device
  2. Store and install it on your device
  3. Open the app, log in, or register if you are a new user
  4. Tap on the three lines, located at the top left corner
  5. Select 'MY ORDERS'
  6. Choose the order receipt you would like to view

Now, you can view and download the receipt in PDF format.

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Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
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Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

How do you write a paid receipt?
  • Include business info, date, payment amount, and sometimes a breakdown of what's paid for.
  • Use clear headings and easy-to-read font.
  • Consider numbering receipts for record-keeping.
What is proof of payment paid?

‘PROOF OF PAYMENT’ simply means a document showing a payment was made. A paid receipt is one form of proof.

What is pay on receipt?

This refers to a situation where payment is made at the time of receiving goods or services. The receipt serves as proof of both purchase and payment.

What is a paid receipt called?

It is either called ‘PAID RECIEPT’ or ‘PAYMENT RECIEPT’.

What documents show proof of payment?

Paid receipts, bank statements, canceled checks, credit card statements, and money transfer confirmations can all be proof of payment.

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