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A Payment Received Letter is a crucial document in Philippine business and legal practice, used to formally acknowledge the receipt of payment for various transactions. This document is essential in the Philippine jurisdiction, where proper documentation of financial transactions is required by both the Civil Code and tax regulations. The letter serves multiple purposes: it provides legal proof of payment, helps maintain accurate financial records, and can be used for audit trails and tax documentation. The document typically includes detailed information about the payment received, including amount, date, method of payment, and purpose. It's particularly important in the Philippines where businesses must maintain clear payment records for regulatory compliance and where such documentation can help prevent or resolve payment disputes.

1. Letterhead and Date: Official letterhead of the issuing party and date of letter issuance

2. Recipient Details: Full name and address of the person/entity who made the payment

3. Payment Acknowledgment: Clear statement acknowledging receipt of payment, including the amount and currency

4. Payment Details: Specific details of the payment including date received, payment method, and reference numbers

5. Purpose of Payment: Description of what the payment was for, including any relevant invoice or contract references

6. Confirmation Statement: Statement confirming that the payment satisfies the specified obligation

7. Signature Block: Signature, name, and designation of the authorized person issuing the letter