What is it?
A cash receipt is a simple document that is logged by a business each time cash is received for a good or service. Cash receipts can either be written by hand or generated by a computer or cash register. Most cash receipts list the quantity of each item purchased, the date of the transaction, the dollar amount, the currency, amount of sales tax with applicable taxation information as well as return/refund policies.
Why is this important?
The Cash Office is the unit of Financial Services within Business Operations responsible for processing all of the incoming financial transactions for the University, including student payments, grant funding, and ancillary sales. The University cash receipt function incorporates two key responsibilities: depositing cash and recording cash received in the University’s accounting records.