What is Proof of Payment and How Do I Get Mine?

Has a business asked you to provide proof of payment? Here’s what they are looking for from you.

Proof of payment may be often required for a variety of reasons. Perhaps you are seeking a refund, need to prove a business expense, or are preparing your taxes. Whatever the reason, obtaining the required documentation doesn’t have to be difficult.

What types of documents are valid proof, though?

Here’s What We’ll Cover:

Receipts

Bank Statements

Key Takeaways

Receipts

The most common method of proving a purchase is through a sales receipt. A receipt can be an invoice or another document that shows information about the purchase. The date, amount paid, and description of the item purchased are included. Receipts should also show the name of the purchaser and the seller’s address.

Getting a receipt may be a challenge in some situations, but there are two ways to do this:

1. If you paid online, most websites will allow you to login to your account to view your past transactions. 
2. If you paid at a physical location, you will need to visit the customer service desk to ask for your receipt.

In most situations, either of these two options will work to obtain your receipt.

Bank Statements

If you made a cash payment, this step of course will not work. However, if you pay by credit card, debit card, or check then you can use a bank statement.

The bank statement or monthly credit card statement will contain the following information:

• Date of transaction
• Amount of transaction
• Name on account
• Address where the transaction occurred

You may already have the relevant bank or credit card statement being mailed to you. Many people, though, have switched to paperless bank statements.

You can also go online. Online statements usually go back through at least the past 12-month period. To download these documents, you will need to login with your online bank details. 

If you use a mobile app, you should be able to find your bank statement or monthly credit card statement there.

Key Takeaways

A receipt or bank statement is the most common way to provide proof of payment. Receipt copies can be obtained from the seller either online or in person. If you need to use a bank statement, access it through your online bank account. Most businesses will accept either document as proof of sale, though receipts are the standard.

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