A receipt book can refer to two different things. The first is a book in which a retailer will write receipts for purchases that customers make; they are common in smaller stores, often found in antique or consignment stores, for example. The receipt is then torn off and given to the customer as a record of purchase. The second type of receipt book is a type of file folder that is used for organizing and storing receipts collected throughout the year for tax purposes. Though the first definition is more common, both may be used depending on the situation.
Many businesses use a handwritten receipt book if the prices of items consistently change, or they do not have the funds to set up a computer system with printed receipts. When choosing a receipt book such as this, many people find that they prefer to choose a book that provides carbon copies of each receipt. This helps to reduce the frequency of mistakes, since employees will only need to write the price and the tax once, rather than in two different locations which increases the likelihood that a transposing error will be made. Carbon copy receipt books tend to cost a little bit more than a standard book, but they might be worth the extra price.
Another consideration is whether or not to get a personalized receipt book. These generally simply feature the name, address, and phone number of the business preprinted at the top of the page, as well as an invoice number if applicable, much as it would with a bank check. Though these will incur an extra cost, they often look much more professional than a blank receipt without the name of the business. It also helps to increase the likelihood that a customer will call with questions, or revisit the store if they need to purchase something else, since they have the receipt for reference.
The other type of receipt book, a storage file folder and notebook for keeping receipts, can be a very helpful tool at tax time. This is especially true for self-employed people who need to justify expenses, or for individuals who itemize deductions. It is best to choose a receipt book with a number of different folders to store receipts of different types, such as vehicle expenses or office purchase. A book that allows for brief explanatory notations might also be helpful for people who might forget what a purchase was for, or who make a great deal of deductible purchases throughout the year.
