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A receipt is a written acknowledgment that a person has traditional money or property in payment subsequently a sale or further transfer of goods or provision of a service. every receipt must have the date of buy upon them. If the recipient of the payment is legally required to combination sales tax or VAT from the customer, the amount would be extra to the receipt and the growth would be deemed to have been upon behalf of the relevant tax authority. In many countries, a retailer is required to intensify the sales tax or VAT in the displayed price of goods sold, from which the tax amount would be calculated at lessening of sale and remitted to the tax authorities in due course. Similarly, amounts may be deducted from amounts payable, as in the lawsuit of wage withholding taxes. on the additional hand, tips or extra gratuities fixed by a customer, for example in a restaurant, would not form portion of the payment amount or appear upon the receipt.

In some countries, it is obligatory for a concern to provide a receipt to a customer confirming the details of a transaction. In most cases, the recipient of maintenance provides the receipt, but in some cases the receipt is generated by the payer, as in the encounter of goods innate 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 produce receipts. Receipts may as well as be generated by accounting systems, be manually produced or generated electronically, for example if there is not a face-to-face transaction. To shorten the cost of postage and processing, many businesses reach not mail receipts to customers, unless specifically requested or required by law, similar to some transmitting them electronically. Others, to condense epoch and paper, may recognize an invoice, account or announcement as “Paid”.

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