Sales Receipt
Definition
A sales receipt is used when a customer pays at the time of the sale. It records both the revenue and the cash received in one step.
Example
A customer pays $150 for a product at the time of purchase. The bookkeeper records a sales receipt: $150 of revenue and $150 of cash.
Why It Matters
A sales receipt is simpler than an invoice because payment is received immediately. Using the right document keeps the books clean.