Best $4.95 ever

There's a fair bit of 'receipt'-looking paperwork:

  • a quote. Itemises the goods to be provided and the prices offered.
  • a receipt. You generate one of these for every payment or refund.
  • an invoice. You generate one of these prior to the payment itemising the goods to be provided and the prices to be charged. Paying this amount makes the transaction final.
  • a bill of sale. You generate this when the transaction is final and transferring ownership.

Modern small transactions combine most of these into one bit of paper.

The 'three receipts' were likely two receipts and one bill of sale. The government is interested in the paid-down invoice.

As bike purchasers the moment of the 'bill of sale' is important when ordering a bike. If you fully pay for a bike which is to be provided later then ensure you get a bill of sale (eg, listing the serial number of the bike). Then if the bike shop enters receivership the bike is yours. If the bike shop doesn't offer that, then don't pay any substantial sum in advance.

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