CASH RECEIPT Meaning and
Definition
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A cash receipt is a financial document or proof of payment provided to a customer or client by a business entity or individual when cash is received for goods or services rendered. It serves as evidence of a transaction being made and confirms that the payment has been made in cash.
Typically, a cash receipt includes various essential details, such as the name and address of the business issuing the receipt, the date and time of the transaction, a unique receipt number, a description of the item or service purchased, the quantity and unit price of the item or service, the total amount paid in cash, and the signature of the person issuing the receipt.
In addition to its basic function of acknowledging the payment received, a cash receipt also serves as a useful record for both the buyer and the seller for future reference, accounting purposes, and for the reconciliation of financial transactions. It is particularly important for small businesses to issue cash receipts to maintain accurate and complete financial records, which can help in tracking sales, managing inventory, and calculating taxes.
Overall, a cash receipt provides transparency and accountability in financial transactions, ensuring that both parties have a document to substantiate the payment made and received, fostering trust and goodwill in business relationships.
Common Misspellings for CASH RECEIPT
- xash receipt
- vash receipt
- fash receipt
- dash receipt
- czsh receipt
- cssh receipt
- cwsh receipt
- cqsh receipt
- caah receipt
- cazh receipt
- caxh receipt
- cadh receipt
- caeh receipt
- cawh receipt
- casg receipt
- casb receipt
- casn receipt
- casj receipt
- casu receipt
- casy receipt
Etymology of CASH RECEIPT
The etymology of the word "cash receipt" comes from the combination of two separate terms:
1. Cash: The word "cash" has its origins in the Old French word "caisse", which means a money box or chest. It evolved from the Latin word "capsa", which also referred to a case or box.
2. Receipt: The word "receipt" traces its etymology back to the Old North French word "receite" and the Latin word "recipere". "Receite" meant the act of receiving, while "recipere" meant to receive or take.
When combined, the term "cash receipt" refers to a written document that acknowledges the amount of money received in a transaction.
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