Receipt Of Cash Memo

CASH MEMO RECEIPT

Cash memo receipt is a document that a seller passes to a buyer at the time of a specific purchase of goods or services. It is the equivalent of an invoice and is only used to record transactions that are paid for using cash, rather than bank transactions or checks.

A cash memo will contain the following information:

• Date of purchase

This is vital as the date of the purchase enables the transaction to be placed in the correct month of the business accounts.

• Details of goods or service sold

This shows the amount of items purchased, or the service provided, so that the amounts can be tracked easily in the future.

• Price of items sold

The price of individual items is included on a cash memo. There are also sub-totals for totals of the same item, as well as the final total of the transaction that took place.

Name and address of seller

This is vital as the finances of the company may be checked in the future, and this enables those auditing the accounts to be able to cross-reference the two companies, and will ensure that both companies have placed the cash sale/purchase through their books.

• Name and address of buyer

it is also depend upon the seller what to add in the cash memo receipt.

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