Collection Receipt Template

What's Included

A Collection Receipt (CR) acknowledges payment received against a previously issued Sales Invoice. This is used when the sale and the payment happen on different dates — common in B2B credit arrangements. The template includes:

• Seller business name, TIN, and address
• Collection Receipt number (separate series from your Sales Invoice)
• Date of collection
• Buyer name and TIN
• Reference to the original Sales Invoice number(s) being paid
• Amount received
• Payment mode (cash, check number, bank transfer reference)
• Balance remaining (if partial payment)
• Authorized signatory

When to Issue a Collection Receipt

Issue a Collection Receipt every time you receive payment against an outstanding Sales Invoice. You do not issue a new Sales Invoice — the original stands. The CR simply closes the open receivable.

For service businesses that already issued an Official Receipt at the time of service (and already collected payment), no CR is needed — the OR serves as both the invoice and receipt.

Common Scenarios

Scenario 1 — Credit terms:

• Day 1: Goods delivered → Issue Sales Invoice #1001
• Day 30: Payment received → Issue Collection Receipt #CR-0045 referencing SI #1001

Scenario 2 — Partial payment:

• Day 1: ₱100,000 invoice issued
• Day 15: ₱50,000 partial payment → Issue CR showing ₱50,000 received, ₱50,000 balance
• Day 30: ₱50,000 final payment → Issue second CR closing balance

How to Customize

1. Maintain a separate sequential series for CRs (e.g., CR-0001, CR-0002) distinct from your SI series.
2. Always reference the original Sales Invoice number to maintain an audit trail.
3. If the buyer issues a check, record the check number, bank, and date on the CR.
4. Keep a copy in your accounts receivable file and reconcile against your SI ledger monthly.