10 Types of Transaction Proof You Must Know in Business

10 Types of Transaction Proof You Must Know in Business

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Every transaction that occurs between a seller and a buyer, aside from paying a certain amount of money, the buyer will receive a transaction proof. This proof contains details such as the item's name, quantity, and the cost incurred by the buyer. This proof also serves as a record for the seller that items have been released from the company's warehouse.

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To learn more, here is an article about the understanding, benefits, and types of transaction proofs that you can implement in your company.

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What is Transaction Proof

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In general, transaction proof is a document containing transaction records between the seller and the buyer. Even though transactions are conducted online, the document can also be received by the buyer electronically. This proof serves as a recording tool as well as an archive for both the seller and the buyer.

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There are two types of transaction proofs owned by companies, namely external and internal. If the transaction is conducted within the company itself, it is called internal proof. Meanwhile, if the transaction is conducted outside the company, it is called external proof.

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Benefits of Having Transaction Proof

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There are three benefits for both companies and buyers when having transaction proofs:

1. Preventing future problems related to buying and selling.
2. Minimizing duplication during financial data collection.
3. Supporting the financial recording process internally and externally within the company.

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By knowing the benefits of these proofs, both companies and buyers will feel comfortable and secure in transactions.

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Types of Transaction Proof

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There are many types of transaction proofs that can be used by companies, including:

1. Sales Invoice
2. Purchase Invoice
3. Tax Invoice
4. Return Note
5. Cash In
6. Cash Out
7. Bank Deposit
8. Receipt
9. Memo
10. Check

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After understanding the definition, benefits, and types of transaction proofs, you can utilize them in your business. To ensure business growth, use payment methods that align with customer preferences. Brick can help you accept various payment methods and process them automatically.

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