You like to buy supplies from a local vendor that works as a cash-only seller. Let’s say your business makes hand-made crafts to sell online. To better understand how they work, here are two examples: Purchase Transaction But, as the name implies, you’re most likely to see them when a transaction uses actual cash. They may also be used when payment is made via check or store credit. What’s most important is that they contain a clear record of key transaction details.Ĭash receipts are used to create an official record of a cash-based transaction. However, more details can be helpful later on.Ĭash receipts can be computer printed, handwritten, or digital. To qualify as an official record, they only need to record that cash changed hands, who was involved, when the transaction took place, and details of what was purchased. While this is likely the most common type of cash receipt you’ll encounter on a day-to-day basis, cash receipts may also play an important role in your business.Ĭash receipts don’t necessarily need all the details that are automatically included on receipts from big-box retailers. You should automatically get a receipt explaining the purchase details, including a line indicating how you paid (cash) and how much you paid in total. You’re likely familiar with them, but if you need a refresher, go to your local retail store and buy something with cash.
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