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A receipt is a written acknowledgment that a person has received money or property in payment past a sale or new transfer of goods or provision of a service. all receipt must have the date of purchase upon 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 accrual would be deemed to have been upon behalf of the relevant tax authority. In many countries, a retailer is required to count up 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 war of wage withholding taxes. upon the new hand, tips or further gratuities solution 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 thing to pay for 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 act of goods subconscious returned for a refund. A receipt is not the thesame 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 fabricate 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 condense the cost of postage and processing, many businesses get not mail receipts to customers, unless specifically requested or required by law, next some transmitting them electronically. Others, to cut time and paper, may endorse an invoice, account or announcement as “Paid”.

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