Receipt is a written statement showing that one person has paid money to another. It may also be a written statement showing that goods, or property, has passed from the ownership or responsibility of one person to another. The receipt is proof that a transaction has taken place. Three kinds of receipts are receipts in full, receipts on account (when some of the amount due is paid), and receipts to apply on special accounts.
A receipt should always show whether payment is made in full, on account, or on the special account to which payment is made, when there is more than one account between two persons. A receipt should always be given when an account is paid. A bill that has been properly signed and marked paid serves as a receipt. A canceled check would also show that payment was made.
