Pre-numbered Receipts for Payments Received
From time to time, some local governments receive payments from the public for items such as building or park rentals, swimming lessons, building permits, or animal licenses. Some entities only issue receipts for these payments if the customer requests a receipt. Some entities do not use pre-numbered receipts.
We recommend that public entities issue pre-numbered receipts for all such payments. Otherwise, it is much harder to determine whether all funds collected were turned in for deposit. Receipts should include the following information:
- Date of the transaction;
- The amount received;
- From whom payment was received;
- The method of payment (cash, check or credit card);
- The reason for payment; and
- The signature or initials of the person preparing the receipt.
The receipts can be hand-written or generated by a computer or cash register. When proper receipts are given for all payments, the daily reconciliation between the number of items sold (permits issued, rentals made, etc.) and the money collected is much easier to perform.
Date this Avoiding Pitfall was most recently published: 10/02/2020