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The Simple Receipt Form is a fundamental business document used extensively in the Philippines to acknowledge and record financial transactions. It serves as a crucial element in business operations, providing documentary evidence of payments made for goods or services. This document type is mandated by Philippine law, particularly under the National Internal Revenue Code and related Bureau of Internal Revenue (BIR) regulations. The form typically includes transaction details, party information, payment specifics, and necessary tax-related information. It's especially important for businesses as it helps maintain accurate financial records, ensures tax compliance, and provides legal protection in case of disputes. The Simple Receipt Form is commonly used across various sectors and can be issued in both physical and electronic formats, subject to the E-Commerce Act of 2000.

1. Receipt Number: Unique identifier for the receipt, usually sequential

2. Date and Time: When the transaction occurred

3. Payor Details: Name and contact information of the person/entity making the payment

4. Payee Details: Business name, address, and tax identification number of the receiving party

5. Amount: Total amount paid, both in numbers and words

6. Payment Purpose: Description of goods/services paid for

7. Mode of Payment: Whether paid by cash, check, or electronic transfer

8. Authorized Signature: Signature of the person issuing the receipt