If your customers pay in full at the time they receive your service or
product, then you don't have to track how much they owe you. However, you
might want to track each sale, calculate its sales tax, or print a receipt for
the sale. In that case, use a sales receipt.
You can also use a sales receipt to create a summary of sales income and
sales tax owed. You can summarize daily or weekly sales on a sales receipt.
If customers pay in advance, either in part or in full, you should
not use a sales receipt.
A cash sale, and using a sales receipt, requires full payment at the time
you record the sale.
Use sales receipts if you:
Collect payment in full at time of service or sale of product
Want to track what you sold
Want to track the sales tax you collected and owe
Would rather create a daily or weekly summary of sales income and sales tax
owed, instead of on a "per sale" basis
Don't accept payment in advance
Don't need to track what your customers owe you
Examples of businesses likely to use sales receipts include beauty salons,
pet groomers, newspaper stands, dry cleaners, and restaurants.
Tell me how to use sales
Learn about invoices
Learn about statements