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Sales Receipt

A sales receipt is issued by the seller to the buyer as proof of their purchase. It’s the buyer's proof they have paid for a good or service. In a traditional brick-and-mortar store, this comes from the cash register when the customer pays.

A sales receipt typically includes the merchant's details, the date, details and number of the items sold, the amount charged for the goods or services, any taxes, and the total amount owed. This can all vary based on your location and the nature of the sale.

As a merchant, sales receipts form the foundation of your accounting system as they serve as proof for each transaction. They are used for your financial records and tax returns. They can also be useful for inventory management. Having a record of what and when products are sold can predict future demand.

When you sell through an eCommerce platform, that platform will usually give you the option to print a receipt for your customers, if they would prefer a paper copy. Otherwise, you will probably send them some form of e-receipt. Your copy, or record of the sale, will usually be stored in the eCommerce platform’s database for your reference.

Receipts are different from invoices in that an invoice is issued by the seller to inform the buyer that payment is due. An invoice also does not mean that the seller has been paid yet. Simply put, invoices are used to collect a payment, and receipts are proof of payment.

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