9 Free Sample Loan Installment Receipt Templates

A Receipt in business transaction is a very important document especially when one person lends some money from other on installment then the person who has given the money on loan wants to keep track of money which he has given to someone. It secures the position of both payer and receiver.

Loan is something, which the person takes in advance from someone with the promise to pay it back to him. When an installment receipt is purchased, an initial amount is paid to issuer of the money. In loan installment, the buyer pays a small amount in start and then pay off the remaining amount which is due in installments. The installment plan may be short or long. On average it lasts for 2 years. Although the buyer has not paid the full money but yet he has all the rights to use that money in the way he wants to use.

Designing an installment receipt is a very important and a little complicated task. The receipt is made according to the laws or regulations of the country. Writing a receipt is very important as it keeps track of the money which has been paid and also money which is still pending. The receipt should include the signatures of both the parties so that one can ensure that both parties are agreed on whatever has been mentioned in the receipt. In order to avoid any kind of financial errors or misunderstanding, it is good to write an effective receipt. If you know the formatting style of the receipt, then you can write the receipt by your hand or can design it in computer.

While writing receipt, write down the name of the receipt or title on the top of paper in bold letters. Also mention the serial number if you deal with number of receipt each day. The date on which the instalment has been paid should also be mentioned on the page. The first and last name of the payer should be there on the receipt and the amount of money which he has paid must be written in front of his name.

Under the name of the payer, must write the reason of the money. It is very necessary to mention that you have taken this money as an instalment of the loan which the lender took earlier. Also mention the nature of the payment. Write it whether it is cash or check. Now write down the name of the receiver. A heading on the receipt is ‘’received by’’. Write the name in front of this heading. Write the name of his company and his phone number along with the date on which he has received the instalment.

The interest percentage should also be mentioned in the receipt. You also mention in the receipt the amount of money which you have received and also the amount of money which is still pending. Write all the terms and conditions of your business at the back of the receipt.

You should also write the method of payment. Get your receipt signed by both payer and receiver. As soon as it is signed by both persons, the receipt becomes an officially valid receipt.

Here is preview of This First Sample Loan Installment Receipt Template created using MS Word,