Receipt

A receipt is a documented acknowledgment provided to a customer that a transaction has taken place at the Point-of-Sale (POS). It serves as a proof of purchase and typically contains essential details of the transaction which are crucial for both record-keeping and verification purposes. The standard elements included on a receipt are:

Receipts can be issued in various forms, including paper, which is traditionally printed at the time of the transaction, or digital formats, which are emailed or texted to the customer. They are vital for both consumers and businesses as they provide a verifiable trail of transactions, which can be used for financial tracking, returns, exchanges, or disputes. For businesses, keeping a record of receipts helps in maintaining accurate financial records, complying with accounting standards, and facilitating easier audits.