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When a freelance designer finishes the project, they send the client an invoice. A week later payment arrives and the client asks for proof the payment went through. These transactions are marked by two separate records: an invoice and a receipt.
Invoice and receipt terms are daily used in any business life. Knowing the definition and importance of each of them is crucial, but do we need to keep both of these records?
In any company reducing manual work equals cost savings. It’s natural that for a business processing hundreds transactions each month the automation process becomes even more crucial.
This is a question many business owners ask. The understanding that receipts are important is there, but do you really need a receipt for every transaction?
Most people assume that any piece of paper showing a transaction was made is enough to count as a valid receipt. Let's dig deeper if this is true.