The cash receipt , also known as a receipt , is evidence of a payment that has been made. So that a payment can be acknowledged, the trade offers forms in which the payment process can be entered.
The cash receipt must indicate by whom and for what purpose the payment was made, as well as the currency, the total amount in figures and words, as well as the net value and the applicable VAT rate. Furthermore, a company stamp and the signature of the recipient of the payment should also be on the cash receipt, the place, the date of payment. Otherwise, the forms for the cash receipt can be provided with consecutive numbers. An invoice can also be viewed as a cash receipt (receipt), provided it is a confirmation of payment. With regard to the legally required components of a proper cash receipt, a distinction should be made as to whether it is a small amount invoice.
An incorrect cash receipt: Attention tax trap
According to Bestitude, a wrongly issued cash receipt can quickly turn into a treacherous tax trap, and this is especially true for companies and private individuals who continue to swear by the handwritten cash receipts in contrast to the printed receipts, which usually contain all the necessary tax information.
Everyone who reaches for the receipt block must know that he has to work carefully. The single incorrect entry on the cash receipt can jeopardize the input tax deduction. The input tax deduction for a receipt over 150 euros is 19% sales tax, which is around 24 euros. But caution is not only required here, but also with tax-free sales.
Because not only missing, but also incorrect information pose a risk. For example, on the tax amount:
Small businesses, entrepreneurs and private individuals with tax-free sales, such as doctors, are under no circumstances allowed to state a tax rate on the receipt. Because anyone who reports unauthorized taxes is liable to tax at the tax office. The reason, the recipient of the receipt is allowed to claim the amount as input tax .
In order to avoid this risk, all taxpayers should add the additions such as “incl. 19% VAT “or” incl. 7% VAT ”should be deleted in advance. In this way, as an exhibitor, you can protect yourself from nasty surprises in the event of a tax exemption.
Tips for cash receipts:
- In principle, handwritten cash should be avoided and only currently valid receipt (cash receipt) forms should be used.
- Forms that are out of date should be disposed of as a precaution
- Entrepreneurs should make their employees who issue cash receipts aware of the strict compliance with the regulations in relation to the form to be observed.
- It is advisable to check the receipts at random so that subsequent errors are avoided
What to do if a cash receipt is missing?
Anyone who knows the accounting rules knows, no booking without receipt. Because so that the operating expenses can be claimed, each expense must be proven with a receipt. But what if a cash receipt is missing? In this case, the company can create a so-called own receipt, but here too there are a few things to consider.
The first thing to know is that the company can help itself by issuing a self-receipt with regard to business expenses . This means that he can claim the business expenses with this self-receipt even without a cash receipt. BUT, this only applies to the pure business expense and not to the original sales tax amount. That means that the sales tax loss is inevitable here. A self-receipt template can be very helpful and is often free to download.
In order for the tax office to recognize this “self-issued cash receipt” as a business expense, certain information must also be provided here.
- Address of the relevant service provider, retail store or supplier.
- The date of the performance
- The invoice amount
- Name and quantity of the goods or the scope of the services
The self-receipt then contains all the important data, just like the correct cash receipt. But the self-receipt should be identified as such and then be given a current date and a signature.