What is a Payment Receipt?
A receipt is an official written acknowledgment that a person or entity has received money or property in settlement of a debt or following a sale. Unlike an invoice (which requests payment for services rendered), a receipt certifies that payment has already been made.
Key Differences: Invoice vs. Receipt
- Invoice: Issued prior to payment; serves as a legal request for funds due by a specific date.
- Receipt: Issued after payment; serves as proof of settlement for tax records, returns, and expense accounting.
Frequently Asked Questions
Yes. Tax authorities (such as the IRS, HMRC, and CRA) require proof of transaction containing merchant details, payment dates, amounts, and item descriptions to support legitimate business write-offs.
Click Print / Save as PDF. Select "Save as PDF" in your print dialog. Our printer CSS guarantees an uncluttered, high-resolution document ready for immediate digital filing or printing.