Receipt

Term from Bookkeeping industry explained for recruiters

A receipt is a basic but important document in bookkeeping that proves a business transaction happened. It shows details like what was bought or sold, how much it cost, and when the transaction took place. Bookkeepers use receipts to track money coming in and going out of a business, which is essential for accurate accounting and tax purposes. You might see receipts mentioned in different ways like 'sales receipts,' 'purchase receipts,' or 'expense receipts.' These documents are crucial for maintaining accurate financial records and are often mentioned in bookkeeping job descriptions.

Examples in Resumes

Managed and organized over 1,000 Receipts monthly for expense tracking

Created digital archive system for Receipts and Sales Receipts

Processed Purchase Receipts and expense reports for a team of 50 employees

Typical job title: "Bookkeepers"

Also try searching for:

Accounts Payable Clerk Accounting Clerk Bookkeeper Financial Assistant Accounts Receivable Clerk Administrative Assistant Account Specialist

Example Interview Questions

Senior Level Questions

Q: How do you handle missing or damaged receipts in expense reports?

Expected Answer: A senior bookkeeper should explain the process of documenting missing receipts, alternative proof of payment methods, and company policies regarding receipt requirements for expense reimbursement.

Q: How do you organize receipts for multiple business entities or departments?

Expected Answer: Should describe systems for categorizing receipts by entity/department, tracking methods, and how to maintain separate records while ensuring accurate allocation of expenses.

Mid Level Questions

Q: What information do you look for when processing a receipt?

Expected Answer: Should mention checking for date, amount, vendor information, payment method, tax information, and business purpose of the expense.

Q: How do you handle digital receipt management?

Expected Answer: Should explain experience with digital storage systems, naming conventions, backup procedures, and how to ensure receipts are easily retrievable for audits.

Junior Level Questions

Q: What are the different types of receipts you might encounter in bookkeeping?

Expected Answer: Should identify basic types like sales receipts, purchase receipts, expense receipts, and explain the basic differences between them.

Q: How do you organize physical receipts?

Expected Answer: Should describe basic filing systems, such as chronological or alphabetical organization, and mention the importance of keeping receipts accessible for tax purposes.

Experience Level Indicators

Junior (0-2 years)

  • Basic receipt filing and organization
  • Data entry of receipt information
  • Simple receipt categorization
  • Basic digital scanning and saving

Mid (2-5 years)

  • Digital receipt management systems
  • Expense report processing
  • Receipt verification and validation
  • Multiple department receipt handling

Senior (5+ years)

  • Complex receipt tracking systems
  • Policy development for receipt management
  • Audit preparation and support
  • Team training and oversight

Red Flags to Watch For

  • Poor attention to detail when handling receipts
  • Lack of understanding of receipt retention requirements
  • No experience with digital receipt management
  • Unfamiliarity with basic accounting software