Why Consulting Engagements Need Proper Receipts
Corporate clients operate under strict accounting rules. Every dollar spent on outside consulting must be documented, categorized, and often audited. A professional consulting receipt gives your client's finance team exactly what they need to close out a purchase order, reconcile their books, and justify the engagement spend to internal stakeholders.
What Belongs on a Consulting Receipt
- Your firm name and tax ID - Required for corporate vendor records and 1099 reporting
- Client company and billing contact - Match the name on the purchase order exactly
- Receipt number and payment date - Tied to the original invoice number for easy cross-referencing
- Services paid for - Engagement name, billing period, and deliverable descriptions
- Payment amount and method - Wire transfer, ACH, check number, or credit card last four digits
- Expense reimbursements - Separately listed if travel or tool costs were included in the payment
Best Practices for Consulting Receipts
Issue the receipt as soon as the payment clears — ideally the same business day. Corporate AP teams often reconcile weekly, and a delayed receipt can hold up their closing cycle. Reference the invoice number and PO number on the receipt so the client can match all three documents instantly.
If your engagement spans multiple invoices — say, a six-month advisory retainer billed monthly — each payment should have its own receipt. Do not bundle multiple payments into a single receipt, as this complicates the client's accounting and audit trail.
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