What is the difference between a sales receipt and a payment receipt?
A sales receipt itemises goods or services paid for at the time of sale. A payment receipt confirms a payment against an earlier invoice. Use whichever matches what happened.
How long should I keep receipts?
In the US, the IRS generally expects records to be kept for at least three years after you file. In the UK, sole traders keep them at least five years after the 31 January filing deadline and companies six years. In India, GST records are kept for 72 months.
Does a receipt need a number?
It should have a unique number so it can be traced. Numbers are allocated in sequence when you issue.