A receipt is a document that acknowledges that a person has received money or property in payment following a sale or other transfer of goods or provision of a service. It is a written or electronic document stating that something of value has been transferred from one party to another. A typical receipt states the time and value of a transaction, and may also include information on the type of service or product being provided, the method of payment, and any additional taxes or fees.
Receipts are used to document payments and business transactions. Companies and other entities use receipts to track their cash flows, reimburse eligible payments, or claim certain benefits on their taxes. In some countries, businesses are required to provide a receipt for each transaction. A receipt is not the same as an invoice, which is issued prior to the customer sending the payment, whereas a receipt is issued after the payment has been received.
A receipt is a piece of paper or an electronic document confirming that a seller has received money from the purchaser. It acts as proof of payment for both the business and the customer. Retailers, banks, and tax and financial services are businesses that are authorized to issue receipts. Receipts are also necessary for tax purposes as proof of particular expenses.
