Arkansas Receipt for Payment of Account

• Category: Loans and Lending - Open Accounts
• State: Multi-State
• Control #: US-01792
• Format: Word; Rich Text

Description

This form is a Receipt. The form provides that the undersigned acknowledges the receipt of a certain sum of money which constitutes payment on the account named in the receipt. The receipt also lists the balance remaining on the account, if applicable. An Arkansas Receipt for Payment of Account is an important legal document that serves as evidence of a completed transaction involving the settlement of an outstanding debt or payment on a specific account. It outlines the details of the payment, ensuring both parties involved have a record of the transaction. The receipt typically includes essential information such as: 1. Account Details: The receipt outlines the account number or relevant identification details pertaining to the payment transaction in question. This ensures accurate tracking and reconciliation of payments. 2. Invoice or Reference Number: The receipt references the corresponding invoice or reference number, linking the payment to a particular transaction or account balance. 3. Payment Amount: The receipt specifies the exact amount tendered by the debtor as payment towards the outstanding balance. It includes both the numerical and written representation of the amount for clarity and to avoid ambiguity. 4. Payment Date: The receipt indicates the date on which the payment was made, allowing for accurate record-keeping and tracking of the account history. 5. Payment Method: The receipt specifies the method of payment utilized, whether it is in the form of cash, check, credit card, electronic funds transfer, or any other accepted payment form. 6. Creditor and Debtor Details: The receipt includes the name, address, and contact information of both the creditor (the entity or individual owed the payment) and the debtor (the party making the payment). This information ensures accurate identification of the involved parties. 7. Signatures: The receipt requires the signatures of both parties involved — the creditor and the debtor. This signifies mutual acknowledgment and acceptance of the payment as duly received. Types of Arkansas Receipts for Payment of Account: 1. Cash Receipt: This type of receipt is issued when the payment is made in cash, whether in-person or through a cash deposit at a designated location. 2. Check Receipt: When payment is made using a check, this type of receipt is generated. It includes the relevant check details, such as the check number, bank information, and account information. 3. Credit Card Receipt: If the payment is made using a credit card, the receipt generated contains the credit card details, including the last four digits of the card number and the issuing bank, along with the authorization signature. 4. Electronic Funds Transfer (EFT) Receipt: When payment is made through electronic funds transfer, this type of receipt documents the transaction details, including the originating and destination accounts, date, and method of transfer. Arkansas Receipts for Payment of Account play a crucial role in maintaining accurate financial records, protecting the rights of both parties, and ensuring transparency in financial transactions.

An Arkansas Receipt for Payment of Account is an important legal document that serves as evidence of a completed transaction involving the settlement of an outstanding debt or payment on a specific account. It outlines the details of the payment, ensuring both parties involved have a record of the transaction. The receipt typically includes essential information such as: 1. Account Details: The receipt outlines the account number or relevant identification details pertaining to the payment transaction in question. This ensures accurate tracking and reconciliation of payments. 2. Invoice or Reference Number: The receipt references the corresponding invoice or reference number, linking the payment to a particular transaction or account balance. 3. Payment Amount: The receipt specifies the exact amount tendered by the debtor as payment towards the outstanding balance. It includes both the numerical and written representation of the amount for clarity and to avoid ambiguity. 4. Payment Date: The receipt indicates the date on which the payment was made, allowing for accurate record-keeping and tracking of the account history. 5. Payment Method: The receipt specifies the method of payment utilized, whether it is in the form of cash, check, credit card, electronic funds transfer, or any other accepted payment form. 6. Creditor and Debtor Details: The receipt includes the name, address, and contact information of both the creditor (the entity or individual owed the payment) and the debtor (the party making the payment). This information ensures accurate identification of the involved parties. 7. Signatures: The receipt requires the signatures of both parties involved — the creditor and the debtor. This signifies mutual acknowledgment and acceptance of the payment as duly received. Types of Arkansas Receipts for Payment of Account: 1. Cash Receipt: This type of receipt is issued when the payment is made in cash, whether in-person or through a cash deposit at a designated location. 2. Check Receipt: When payment is made using a check, this type of receipt is generated. It includes the relevant check details, such as the check number, bank information, and account information. 3. Credit Card Receipt: If the payment is made using a credit card, the receipt generated contains the credit card details, including the last four digits of the card number and the issuing bank, along with the authorization signature. 4. Electronic Funds Transfer (EFT) Receipt: When payment is made through electronic funds transfer, this type of receipt documents the transaction details, including the originating and destination accounts, date, and method of transfer. Arkansas Receipts for Payment of Account play a crucial role in maintaining accurate financial records, protecting the rights of both parties, and ensuring transparency in financial transactions.