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The video tutorial explains how to properly fill out generic receipt books, which cost around $2.88 at Walmart and contain 50 receipts. The key steps include writing the date, your company name, and the total amount for the job or service at the top, similar to a check. Be sure to specify the purpose, such as "tile and grout cleaning and resealing," for record-keeping. Additionally, note how the payment was made, the amount owed, the amount paid, and any outstanding balance. Finally, sign the receipt, keeping the yellow copy for your records and giving the white copy to the client.