Receipt

A receipt is a document merchants give customers to acknowledge the purchase of a product or service. Receipts include the date and time a transaction was completed, the merchant’s business name and contact details, a receipt number or transaction ID, an itemized list of purchased goods, the amount paid inclusive of taxes, and the payment method used. While uncommon, some receipts may contain details about a merchant’s return and refund policy and information about a customer’s past purchase history.

Customers often keep receipts to track their purchases. Merchants, on the other hand, use receipts to track sales and to leave a paper trail for audit and tax purposes. Receipts also serve as proof of purchase, which is helpful when merchants need to fight chargebacks, issue refunds or provide exchanges, or validate the start date of a product’s warranty.