What is the primary purpose of a business receipt?

The primary purpose of a business receipt is to serve as a record of expenses. Receipts are essential documents that provide proof of a transaction, detailing what was purchased, the amount paid, and the date of the transaction. They are critical for both the customer and the business, allowing customers to verify their purchases and businesses to track their income and expenses accurately. This record-keeping aspect is vital for budgeting, accounting, and tax reporting, making receipts a fundamental component of business operations.

Understanding the role of receipts in financial management helps businesses maintain accurate records, which is crucial for performance analysis and financial planning. In contrast, other options focus on different aspects of business communications and operations, such as marketing notifications or payroll details, which do not represent the primary function of a receipt.