Differences Between Credit Sales and Cash Sales (Sales Receipts)

Click here for the differences between a sales order and a sales receipt.

The difference between a sales receipt for a credit sale and for a cash sale

Credit Sale	Cash Sale
A customer has to be specified.	A cash sale can be made without specifying a customer.
A credit sale is always on credit.	A cash sale is paid for when you enter the cash sale. This means that the payment transaction is recorded at the same time as the income transaction.
A credit sale is always tracked on a customer.	A cash sale cannot be tracked if you do not select a customer. You can only see the cash sale on the income account.

The difference between using a customer and not using a customer

Using a customer	Not using a customer
You can track the sale on the customer's account statement.	You can only see the sale on the income account.
Your customer statistics are updated, so that you can see how much business you are doing with a particular customer.	No customer statistics are created.