Receipt

author Filip Kniola , 2014-05-23

Receipts and invoices are source documents in accounting. When a buyer and a seller conduct business transactions they are required to record or document it with both of these documents. 

A receipt is document stating that payment has been complete in order to finalize the sale. It usually works an ownership proof and should contain the following information:

list of goods or services

price for goods or services

credit equal to the owed amount

tax rates appropriate for country and business

total amount paid for the goods or services

method of payment for the goods or services

Receipts contain information regarding buyers and sellers, varying, however to a certain degree. They usually have complete seller's information but the buyer's information is limited.

Essentially, an invoice is the seller's request for payment and receipt is the buyer's proof of payment.