Receipt

Receipt

A receipt (known also as sales receipt or cash receipt) is a written acknowledgment to show that a specific amount of money has been received. In other words a receipt is a hard copy description of the transaction that took place at the point-of-sale.

A receipt records the purchase of goods and services. A receipt is not the same as an invoice, although it is used to create an invoice and there are different kinds of invoicing software that connects to the POS terminal which created the receipt, to produce the receipt.

The normal payment receipt template includes: a date, merchant name and location, primary account number, type of account accessed, the amount, the reference number and an action code. Merchants can buy a personalised receipt book, in order to give a more unusual receipt to the customer.

Merchants may also wish to produce net receipts and gross receipts. Net receipts provide the amount of profit gained from sales once taxes and costs are deducted. Whereas gross receipts provide the total amount of revenue a company makes before any deductions are carried out.

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