Receipt as defined in the dictionary is “a written statement saying that money or goods have been received” in the 17th century. At one time the only meaning of receipt was “recipe.” The first recorded use of receipt is a reference to a medicinal preparation in Chaucer’s Canterbury Tales (c. 1386). The recipe didn’t arrive until the 1500s, and it was also first used to describe medicine. Both words began to be applied to cooking only in the 18th century, after which recipe slowly became the preferred word. Both receipt and recipe are thought to be ultimately derived from Latin recipere (“to receive”), making them probable relatives as well as synonyms.
Today, we are more aware of the different use of the two words. And receipts became significant to businesses and customers. It is functional in different terms and conditions. Whether it is online or offline transactions, a paper receipt or digital receipt, and whatever mode of payment that we used a receipt is required as our payment reference.
Here are some interesting facts about receipts:
- Receipts are one factor that can build credibility for the company or business. In some countries, receipts are mandatory documents.
- Receipts are supporting documents to record business expenses like travel, vehicle, marketing, maintenance, office supplies, and many more.
- Receipts, particularly OLD receipts can consider memorabilia by a person. A first-ever purchased item/s on your first salary, engagement, wedding, or any special event in your life.
- A person who is traveling from different countries and is fond of collecting receipts like purchased branded bags, clothes, shoes, or jewelry.
- Receipts are the major requirement when you want to refund/exchange items of your recent purchase like, your new appliance is defective, your favorite new branded shoes were not paired, or the food products that you bought are expired.
- Receipt requires businesses or sellers to pay taxes based on their sales. The seller is obliged to put everything on record in case an audit is required.
- Receipts in a few cases can be used as support evidence for the investigation, regardless it is a civil case or criminal.
- A receipt can be used to avail of a free item promo or a raffle ticket for a chance to win a grand or consolation prize in participating stores.
- Receipts for your loan payments like monthly home amortization, or car loan. You want to make sure that all payments are deducted to its Loan Principal Amount.
- Receipts bank payment from your credit cards and phone monthly plans. Getting updated from your accounts, you get to feed information like the perks that you can avail from participating merchants or stores.
Some prefer paper receipts while some like digital receipts. I think it also depends on where to use the receipts. Many companies started practicing the paperless campaign because it benefits the environment, employees, and business owners. Save a lot of money and time. And what is good about it is you have the option to print it whenever you want it. MakeReceipt is a receipt generator that makes you create a receipt in seconds!
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