Payment receipt contains all details about mode of payment, item details, payer details and receiver details. It also has the details of date, day and total amount. Receipt plays important role in the verification process and in the process of audit. Serial numbers of receipts tell about the total number of payments in specific time duration. It is a written proof and evidence of payment. Both persons can claim in case of any issue on the basis of this receipt. These receipts also very helpful in future. Both parties keep receipts for security. In case of replacement or return of item these receipts are compulsory at that time.
Useful Critical Points
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