QUITTANCES Meaning and
Definition
-
Quittances generally refer to written receipts or records that serve as evidence of a financial transaction's completion or fulfillment. These documents are typically issued by someone who has received payment for goods, services, or debts, and they establish the fact that the full or agreed-upon amount has been received. The term "quittances" can also be used to describe the act of discharging or settling an obligation or debt.
In essence, quittances act as proof that a transaction has been concluded and all financial obligations associated with it have been met. They often include details such as the date of payment, the amount received, the name of the payer, and the name and signature of the recipient. Quittances can be issued for various purposes, including rent payment, loan repayments, sales transactions, or any other commercial or personal financial arrangement.
Besides their function as evidence of payment, quittances can also be used for record-keeping and accounting purposes. By providing a clear record of financial transactions, quittances help maintain accurate financial records and facilitate the monitoring of debts, credits, and other financial obligations. These documents can also serve as legal proof in case of future disputes or misunderstandings regarding the completion of a financial agreement.
In summary, quittances are written documents that vouch for the completion of a financial transaction, serving as evidence that a payment or debt has been settled.
Common Misspellings for QUITTANCES
- 1uittances
- 2uittances
- wuittances
- auittances
- qyittances
- qhittances
- qjittances
- qiittances
- q8ittances
- q7ittances
- quuttances
- qujttances
- qukttances
- quottances
- qu9ttances
- qu8ttances
- quirtances
- quiftances
- quigtances
- quiytances
Etymology of QUITTANCES
The word quittances is derived from the Old French word quittance, which means release, discharge, or payment. It ultimately comes from the Latin word quietus, meaning quiet or calm. In English, quittance originally referred to a formal release from obligation or debt. Over time, it has also come to be used to refer to a document or receipt as proof of payment or discharge. Quittances is the plural form of quittance.
Infographic
Add the infographic to your website:
