A cash receipt is a simple document showing proof of a transaction that is often issued at the time of the completion of a sale. Many businesses issue such receipts as a matter of course. While the printed document is normally a simple record of the transaction, some examples can be very detailed.
In general, a cash receipt serves two purposes. First, the document serves as a permanent record for the vendor. It allows for the orderly posting of sales on a daily basis, as well as providing a document that can be used in adjusting current inventory levels. Second, the receipt provides the customer with a permanent record of the transaction that can be employed to keep the financial records of the client up to date.
In many retail environments, receipts are issued with the aid of a print feature on a cash register. The vendor totals the items that are purchased by the customer, adds any applicable taxes, and records the cash received from the client. If change is due, the document usually makes note of the amount of the refund to the customer. Because most cash registers today produce two records of the sale, both the vendor and the client have a permanent record of the transaction.
The advent of Internet shopping has led to the creation of electronic receipts as well. Many online businesses provide the client with the option of printing a record of the transaction as soon as the payment is approved. In addition, it is not uncommon for the vendor to provide an email copy of the cash receipt as well, often including the details of the sale in the body of the email.
Just about every receipt will include basic information about the nature of the sale. This essential detail will include the date of the transaction, a list of the prices of the items purchased, a subtotal, applicable taxes, and a final total. Some forms will also provide unit prices and extended prices when multiple units of the same item are purchased, as well as a detailed description of each item.
