Receipt vs. Voucher — What's the Difference?

Receipts are documents that confirm the completion of a transaction, often indicating the amount of money exchanged for goods or services. Vouchers, in contrast, are typically used before a transaction or as part of a promotional offer, representing a certain value or entitlement to services or goods. While receipts serve as proof of purchase, vouchers act as a medium to obtain a financial discount or service at a later date.

Receipts are provided after the payment is made and are a record for both the buyer and the seller. They serve as evidence for the purchase and are often necessary for returns or exchanges. Vouchers can be considered as a form of a prepaid receipt used for future transactions. They hold a certain value or terms of service which can be redeemed and can be issued as a part of a marketing strategy to boost sales.

Receipts are specific to the buyer and cannot be transferred, as they detail a completed payment, often including the date, total amount, and a description of the goods or services. Vouchers are more flexible and can be given to others as gifts. They generally have an expiration date by which the owner must redeem the value or service offered by the voucher.

Receipts can be provided for any type of transaction irrespective of the amount or nature of the transaction. They are essential for accounting and tax purposes. Vouchers are not a direct record of a transaction but an instrument that will lead to a transaction, such as gift cards, discount coupons, or tickets redeemable for services like massages or hotel stays.

Receipts are usually issued in the ordinary course of a sale, and customers expect to receive them automatically. Vouchers, however, are optional and can often be purchased or are received as part of a promotional event, loyalty program, or a refund mechanism. Both serve to document the terms of a transaction, but at different stages and for different purposes.