Definition: A Receipt List tracks all payment receipts issued to customers, showing details such as amounts and dates.
Importance: It helps businesses maintain accurate records of cash inflows.
Usage: Accounting teams use this report to reconcile cash accounts and ensure all payments are recorded accurately.
Example:
"Sweet Treats" compiles its Receipt List:
- Receipt #001: $200 (received from Customer A)
- Receipt #002: $300 (received from Customer B)
- Receipt #003: $150 (received from Cash Sales)
The accountant uses this list to verify and reconcile cash receipts against the General Ledger.