A receipt is a recorded confirmation that ordered goods arrived or that an eligible receiving event occurred. For services, organizations often use a separate service confirmation or entry record. The receipt should identify the order, quantity, date, location, accepter, and discrepancies needed by operational, inventory, matching, and ERP processes under the organization’s controls.
In plain English
It records what the organization received against an order.
Illustrative example
At Northstar Industrial Systems, the receiving team records delivered quantities for machine components and identifies damaged units as an exception.
- Related terms
- Goods receipt; Service entry sheet; Purchase order; Three-way match
- Lifecycle stages
- Receive; Invoice
- Stakeholders
- Operations; Finance; Procurement; Supplier