Rent is basically amount of money charged to a person using a specific property. Annual receipt is a document which shows rent of twelve months. Format in simpler words is a way of arranging or a basic form of that thing.
Annual rental receipt format therefore can be defined as a specific value of money which is charged to tenant by an owner divided over twelve month and a proper way of recording them on paper or document.
Features of annual rental receipt
- It is a need of both owner and tenant to have a receipt of rent paid.
- Prevents chances of cheating the future due to written record.
- It is difficult to memorize transactions of twelve months as it a long period.
- Chances of disputes can be eradicated as receipt can be shown by any individual for solving matter.
- At the time of leaving a property amount paid in advance at the starting period in form of “security” of using property can be adjusted and cleared without any confusion.
Rental receipt in excel format
The receipt in Microsoft excel can helps you save a lot of your time. The important information which should be included in receipt is tenant’s name, date of payment, exact amount of payment made, the time period of payment, owner name and at the end landlord’s signature.
Rent receipt template excel however should mention rent paid in individual months and showing the total amount being paid by tenant to landlord during one year. it can be taken out in printed form and should be kept by both individual and renter as a record.