Charge Slip 101

MARKETING

What are Charge Slips?

Charge Slip refers to the receipt that is issued after using a credit card in a swipe machine or point-of-sale (PoS) terminal to pay for any purchases. The sales receipt known as a “charge slip” is the one that is printed after using a debit or credit card to swipe and make a purchase and contains the following information: Card Number, Transaction Date, Payment Amount, Approval Code, and Retrieval Reference Number (RRN).

Innoviti’s point-of-sale (PoS) terminal is most preferred by merchants as it guarantees a seamless transaction, quick and instantaneous printing of a bill and exciting offers and deals on select credit cards.

Purpose of a Charge Slip

Charge slips list the services rendered and any fees that may have been incurred. They serve as records of a transaction and necessary in the case a transaction is disputed. Customers seeking to replace or return a product cannot afford to misplace the charge slip. It is for this reason a cashier always retains a copy of the charge slip.

Innoviti creates high-quality PoS receipts at a low cost with quick and simple installation. The printer also boasts several fantastic features, such as an auto-cutter, drop-in paper feed, and status LEDs, which make operation and maintenance simple.

Types of Charge Slips

• Proforma Invoice

  An estimated invoice sent by the seller to the buyer before any goods or services are delivered is known as a proforma invoice. In addition to describing the items or services that need to be supplied, it often includes information such as the projected cost and the expected delivery date.

• Sales Invoice

  To receive payment for a good or service, a sales invoice is issued to the customer. It features sections for the seller’s information, the buyer’s address, the delivery date, the terms of payment, the goods prices, and the overall cost. It also has sections the buyer can utilize to make payments, like bank information and payment links.

• Tax Invoice

  A tax invoice includes information like the description, quantity, value, and tax applied to the goods or services, as well as any other necessary elements. The recipient’s tax invoice serves as the main piece of documentation for the input tax credit claim.

• Overdue Invoice

  A bill that hasn’t been paid by the due date is considered overdue for which a charge slip is produced.

• Credit Memo

  When the seller owes the buyer money, a credit memo is utilized. A credit note acknowledges the amount owed and extends credit to the buyer in a letter that is issued to the latter.

• Debit Memo

  Clients receive a debit memo to update previous bills and raise the overall sum due by the client to the company.

About the Author

Nandan S Kedlaya

AVP Digital Marketing