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one of the most widely used documents in business is receipts when you buy something you usually get a receipt from the seller and when you sell something you normally give a receipt to the buyer but what exactly is a receipt why do we need them and what should go on them welcome to bullseye money the channel that helps business owners like you understand finance and today were going to talk about receipts in a nutshell a receipt is a document that a seller gives to a buyer after the buyer has paid for goods or services it is one of the documents involved in the purchasing process and it is proof that the buyer has paid for the goods or services supplied by the seller in your life you have probably been given lots of receipts every time you buy something from a shop or you pay for a service from a business such as an accountant or plumber you would have been given a receipt and if you run a business you would have given receipts to anyone who has purchased the goods or services you ar