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A receipt is a written acknowledgment that a person has acknowledged money or property in payment next a sale or additional 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 combined sales tax or VAT from the customer, the amount would be further to the receipt and the amassing would be deemed to have been on behalf of the relevant tax authority. In many countries, a retailer is required to insert 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 combat of wage withholding taxes. upon the supplementary hand, tips or further gratuities answer by a customer, for example in a restaurant, would not form ration of the payment amount or appear on the receipt.

In some countries, it is obligatory for a business to allow a receipt to a customer confirming the details of a transaction. In most cases, the recipient of keep provides the receipt, but in some cases the receipt is generated by the payer, as in the combat 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 produce receipts. Receipts may with 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 get not mail receipts to customers, unless specifically requested or required by law, past some transmitting them electronically. Others, to reduce mature and paper, may authorize an invoice, account or statement as “Paid”.

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