A payment receipt template is a proof of payment and acknowledgement that a product or device has been received and paid for. Usually it is for the buyer rather than for business and it is not used in accounting for digital goods. The receipts let the purchaser makes sure that their payment was received by the business. Generally a payment receipt is different form an invoice because an invoice can be given on credit and a payment receipt is a confirmation of payment having been received. These receipts are used to prove ownership of items as well as required for any warranty issues.
The payment receipts are essential in case if products need to be returned or exchange because the seller ask for a proof that the product was bought form the company and they are also crucial for tax purposes. The basic objective of the receipt in any situation is to confirm that the correct amount was charged for the correct goods or services. Normally a payment receipt will show the name, address of the store or shop, description of the good, date of a purchase, price paid also include sale tax or VAT and the method of payment.