If you've ever had an installment loan, such as for a car, then your lender may have sent you a payment book. This booklet contains slips that you can use to send back with a check or money order to pay your monthly bill. It is also a way to keep a record of your payments—if a slip is missing from the book then you know that that month's bill has been paid. If you establish a loan arrangement with someone, you can create and print your own payment book for him to use.
On the Word main menu, click "Insert" then "Shapes" and choose the rectangle shape. A rectangular box will appear in your blank document. You can size it, and in this case set it at about 2.5-by-6.5 inches.
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Go back to the "Shapes" drop-down box and select the line tool this time. Draw a short, vertical line about 2 inches from the left-hand side of your rectangle. Right-click the line and select "Format Autoshape." Select the "Colors and Lines" tab to change the line to a dashed line. You should now have two boxes (one square and one rectangle). Click your cursor outside of the box to assure that none of the lines are selected.
Click "Text Box" on the "Insert" menu. Insert two text boxes—one inside of the box on the right, and another smaller one in the box to the left.
Type in the account number, name of the person paying the bill, payment amount, and due date of the payment in the smaller box (on the left-hand side)—this will be the payment stub. Type in the same information in the right-hand box, only this time include the full name and address of the payee as well. This way, the bill payer will be able to reference the mailing address for the payment.
Draw one more text box in the corner of the rectangular box on the right-hand side. Type in "Payment No. 1" (you will update this number for each subsequent payment slip). Press "Enter" and then type in "Amount Enclosed _" on the next line.
Press the "Control" button on your keyboard and click each box with your mouse until all of them are selected. Right-click the selected boxes and choose "Grouping" then "Group" so that all of the elements become one.
Click "Control" and "C" to copy the payment slip and then "Control" and "V" to paste a copy. Position it underneath the first slip. Add new pages to your document (choose "Insert" then "Blank Page") and repeat this copying and pasting process as many times as necessary to complete your payment book. Be sure to change the payment numbers for each slip.
Print the payment slip pages. Use a pair of scissors to cut payment slips from each page.
Collate the slips by payment number. Use a heavy-duty stapler to place two staples on the left-hand side of the booklet. The borrower can now tear off the payment receipt at the dashed line and keep the stub in the book for his own reference.