Receipt is an acknowledgement for cash received. It is issued to the party paying cash. Receipts form the source for entries in cash book. Receipts are diverse from revenues. It is an official, written recognition that something of worth has been received. Receipt can also refer to the operate of receiving something, such as incoming goods (raw materials, supplies, correspondence, etc.).
Cash receipts are the assortment of money, usually from a consumer, which increases (debits) the cash balance documented on a company’s balance sheet. Nowadays, the receipt voucher is automatically organized by the organization and the accountant or manager can assessment it online. Most accounting systems have a receipt task for the reason of recording a cash receipt. This is an instance how a receipt voucher looks like.
