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A receipt is a written acknowledgment that a person has time-honored money or property in payment later than a sale or new transfer of goods or provision of a service. every receipt must have the date of buy on them. If the recipient of the payment is legally required to summative sales tax or VAT from the customer, the amount would be added to the receipt and the gathering would be deemed to have been on behalf of the relevant tax authority. In many countries, a retailer is required to attach the sales tax or VAT in the displayed price of goods sold, from which the tax amount would be calculated at reduction of sale and remitted to the tax authorities in due course. Similarly, amounts may be deducted from amounts payable, as in the suit of wage withholding taxes. upon the further hand, tips or supplementary gratuities unchangeable by a customer, for example in a restaurant, would not form allowance of the payment amount or appear on the receipt.

In some countries, it is obligatory for a event to find the money for a receipt to a customer confirming the details of a transaction. In most cases, the recipient of child maintenance provides the receipt, but in some cases the receipt is generated by the payer, as in the skirmish of goods visceral returned for a refund. A receipt is not the same as an invoice.

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 develop receipts. Receipts may after that 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 realize not mail receipts to customers, unless specifically requested or required by law, in the manner of some transmitting them electronically. Others, to abbreviate get older and paper, may authorize an invoice, account or confirmation as “Paid”.

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