Receipt

Last updated: 2021-06-21

The receipt serves as proof that a person or company has paid for a good or service.

According to the cash register act, the seller must produce a cash register receipt on each occasion of sale. This law applies to most businesses that sell goods or services against cash payment. Payment cards also count towards cash payment.

In accounting, receipts can be used as a basis for business events.

For a document to be considered valid, it needs to contain, for example, the following information:

• Seller’s name and address
• Date of issue
• Information about the goods or services
• Amount
• VAT
• VAT rate

A common misunderstanding is that the so-called account slip, i.e. the printout from the card terminal, is the same as a receipt and thus functions as a document. As this is only a certificate of the transaction itself, it does not function as a basis, but needs to be supplemented or replaced by a cash receipt.