By Judith Cross - April 10 2018 14:49:23
A receipt is a written acknowledgment that a person has received money or property in payment following a sale or other transfer of goods or provision of a service. All receipt must have the date of purchase on them. If the recipient of the payment is legally required to collect sales tax or VAT from the customer, the amount would be added to the receipt and the collection would be deemed to have been on behalf of the relevant tax authority. In many countries, a retailer is required to include the sales tax or VAT in the displayed price of goods sold, from which the tax amount would be calculated at point of sale and remitted to the tax authorities in due course. Similarly, amounts may be deducted from amounts payable, as in the case of wage withholding taxes. On the other hand, tips or other gratuities given by a customer, for example in a restaurant, would not form part of the payment amount or appear on the receipt.
There is usually no set form for a receipt, such as a requirement that it be machine generated. Many point-of-sale terminals or cash registers can automatically produce receipts. Receipts may also be generated by accounting systems, be manually produced or generated electronically, for example if there is not a face-to-face transaction. To reduce the cost of postage and processing, many businesses do not mail receipts to customers, unless specifically requested or required by law, with some transmitting them electronically. Others, to reduce time and paper, may endorse an invoice, account or statement as "paid".
According to the federal government, a receipt is written documentation that a buyer paid a seller for goods or services. A receipt must include the name of the seller, the purchase date, the specific goods or services purchased, the unit price and the final amount the buyer paid. If different types of products or services were purchased together, they must be listed separately on the receipt.
There are many types of receipt templates below including delivery receipt templates, cash receipt templates, rent receipt templates, sales receipt templates, donation receipt templates, and purchase receipt templates.
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