The Use of a Receipt of Donation Letter
A receipt is usually used as proof of transaction, whether the transaction is using cash or cashless. In the case of donation, a receipt can also be used as proof of payment from the institution that is receiving the donation to the person or institution donating. It is called the receipt of donation letter. It needs to be recorded properly so that the institution can trace back and log the expense (donation) made for a certain cause. For auditing purposes, it is important to keep all expenses logged and recorded as well.
If you are raising funds for a cause with your company or organization and looking to create a receipt of donation letter, you can find some online too. It will be able to help you create the receipt that you need. There are different kinds of templates that you could choose from depending on the needs of the company. You will be able to easily edit it and save it on the shared network in the company for future use as well. Creating a receipt template can be quite easy even if you have never done it before. There are only a few fields that you have to fill in such as the name of the person or institution that is donating, the amount of donation, the purpose of the donation, the date of the donation, and the signature at the bottom of the receipt.
As a responsibility of a company, different companies have various Corporate Social Responsibility (CSR) that they have to do. This can be to help the less fortunate, donate to a social cause, and many more. When that is the case, you will need a receipt of the donation from them so you can properly log and record the donation that was made. In general, CSR is a concept that is not only limited to giving out donations (with cash). It can be done also by creating social activity surrounding the location of the organization. This way, you can involve everyone in the neighborhood too. However, some companies might feel more fortunate that they could do cash donations for them.
Other Samples of Receipt of Donation Letter :
There are other purposes in having the receipt of the donation letter that you have made. It will lessen the risk of the company’s business (of fraud or scam). If the company is insured, then the receipt can be used as proof that the donation was made. It will also make the market of the company bigger as a big donation is usually published to the public. If the company doesn’t receive a receipt after they make their donations, the company can request one.
It is important to have the expense recorded, the receipt can be proof of that too.No matter the amount of donation, a receipt for a donation letter needs to be prepared. Not only for the company or organization donating, but the donation itself needs to be well recorded by the institution receiving the donation. You need to keep track of all the donations especially if the company is donating often.
Sample of Receipt of Donation Letter – Word