Accounting – 2.2 Business documents | e-Consult

Receipt: A receipt is a document provided to a customer to confirm that they have paid for goods or services. It serves as proof of payment from the customer's perspective. It's issued by the business to the customer. It records an inflow of cash for the business.

Example: A shop sells a product for £20. The shopkeeper gives the customer a receipt for £20, showing the date, the items purchased, and the amount paid. This confirms the customer's payment and provides a record of the sale for the business.

Paying-In Slip: A paying-in slip is a document used by the business to record the cash that is deposited into the business's bank account. It's used by the business to record a cash inflow to the bank.

Example: A business owner takes £500 in cash and deposits it into the business's bank account. The business owner completes a paying-in slip, recording the date, the amount deposited (£500), and the bank account details. This document is then submitted to the bank to record the deposit.