A receipt is issued after payment has been received, serving as proof of a completed transaction. An invoice is sent before payment to request money owed. Receipts confirm "payment made" while invoices request "payment due."
Yes, providing receipts is a best practice and often legally required. Receipts serve as proof of purchase for customers, help with returns/exchanges, and are essential for both your accounting records and customer tax documentation.
A complete receipt should include: receipt number, date of payment, business name and contact information, customer details, itemized list of products/services, payment amount, payment method, and any applicable taxes.
Absolutely. Receipt templates work for all payment methods including cash, check, credit card, and digital payments. Simply note the payment method on the receipt for accurate record-keeping.
Yes, digital receipts are legally valid and increasingly preferred. They're easier to store, organize, and retrieve for accounting purposes. Many businesses now email receipts or provide them through apps for customer convenience.