"Receive" is a verb, denoting the action of getting, accepting, or taking possession of something. In contrast, "Receipt" is a noun that refers to the physical or digital document acknowledging that a certain item, service, or amount of money has been received.

Receipt is a noun referring to a document that confirms the acceptance of goods or services. When you say something was received, you are describing the action of having taken delivery or possession of it. Receipt, on the other hand, is the physical or digital record of a transaction.