Point of Sale (POS) Glossary
A receipt in a retail environment is usually a record of a sale. Receipts may also be issued as proof of a return, notably when money is credited back to a customer’s card payment. Receipts can also be generated as proof of being on a waiting list to buy a product, for layaway installment payments, and for other reasons for documentation between a store and consumer that may not be a sale.
Receipts are usually issued by a point of sale register, at an eCommerce store, emailed, or included with a shipped product.
A business may choose to deny issuing a refund without a valid receipt. Depending on their policies and procedures, they may give credit, exchange only, or other limited options. However, some POS systems may track sales linked to a customer, and then the business is less dependent on a printed receipt to process returns.
An eCommerce website is open 24/7 and accessible from all over the world. Being online and having physical store opens your business to a global market.
You’ve probably been at the register at the grocery store and asked if you wanted to contribute money to a charity as you checked out. Maybe you donated, or perhaps you found it was annoying. It might have depended on your mood that day, or possibly the charity was a deciding factor.