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A receipt is a written acknowledgment that a person has usual allowance or property in payment next a sale or new transfer of goods or provision of a service. every receipt must have the date of purchase on them. If the recipient of the payment is legally required to total sales tax or VAT from the customer, the amount would be other to the receipt and the buildup would be deemed to have been upon behalf of the relevant tax authority. In many countries, a retailer is required to improve the sales tax or VAT in the displayed price of goods sold, from which the tax amount would be calculated at dwindling of sale and remitted to the tax authorities in due course. Similarly, amounts may be deducted from amounts payable, as in the court case of wage withholding taxes. upon the extra hand, tips or other gratuities complete by a customer, for example in a restaurant, would not form allocation of the payment amount or appear upon the receipt.

In some countries, it is obligatory for a thing to provide a receipt to a customer confirming the details of a transaction. In most cases, the recipient of money provides the receipt, but in some cases the receipt is generated by the payer, as in the conflict of goods subconscious returned for a refund. A receipt is not the similar 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 manufacture receipts. Receipts may in addition to be generated by accounting systems, be manually produced or generated electronically, for example if there is not a face-to-face transaction. To edit the cost of postage and processing, many businesses reach not mail receipts to customers, unless specifically requested or required by law, next some transmitting them electronically. Others, to cut time and paper, may recognize an invoice, account or support as “Paid”.

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