Bills Receivables :- purchase bills received from party & 
bills payable :- you have to pay creditors bills as per his 
bills amount (diducted his TDS), Thats called bills 
recevable & payable.

Bills Receivable- Receivable against sale of goods/service 
provided to the coustomer called S.debtors.
Bills Payable - Payable against Purchased goods or service 
received from the party called S.creditors

bills receivables is nothing but the amount receivable from 
the customers for which the negotiable instrument in the 
form of bill of exchange is received from the customer.

bills payable is nothing but the payable to the suppliers 
for which the negotiable instrument in the form of bill of 
exchange is given to the suppliers.

Bills Payable: means written promise issued to other 
traderfor purchase of goods are known as bills payable.
Bills Receivable: means written promise received from other 
traders for selling goods are known as bills receiable.

BILLS RECEIVABLES AND BILLS PAYABLE IS ALSO KNWON AS 
ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE. BILLS RECEIVABLE 
AND BILLS PAYABLE COMES UNDER THE BILLS OF EXCHANGE. SEC 5 
OF THE NEGOTIABLE INSTRUMENTS ACT DEFINES BILLS OF EXCHANGE 
AS A BILL OF EXCHANGE IS AN INSTRUMENT DULY SIGNED BY THE 
DRAWER, INDICATING THE DRAWEE TO PAY THE SAID AMOUNT ONLY 
TO, OR BEAR OF INSTRUMENT.

Generally peoples telling it as sundry debtors & sundry 
creditors.

Bills Receivable - This is the amount which has promised to 
recieve with the customer in the event of goods sold  or 
any services rendered.
Bills Payable means the amount payable for the cost of 
goods purchased or services received.

bills receivables is nothing but the amount receivable from 
the customers for which the negotiable instrument in the 
form of bill of exchange is received from the customer.

bills payable is nothing but the payable to the suppliers 
for which the negotiable instrument in the form of bill of 
exchange is given to the suppliers.

Answer
	Bills Payable: the outstanding unpaid notes or 
acceptances 
Made and issued by an individual or firm.

Bills receivable: the unpaid promissory notes or 
Acceptances held by an individual or firm.

BILL RECEIVABLE MEANS THE OUTSTANDING BILL WHICH THE 
PAYMENT NOT YET RECEIVED.

BILLS PAYABLE MEANS THE OUTSTANDING BILL WHICH THE PAYMENT 
NOT YET MADE.

Bills receivables due to received some items purchased 
denoted that the creditors

B/R is a current assets created by offering credit sales to 
customers on thier promise to recieve money from them on 
any agreed future date (usually not more than one year).
B/P is a current liability created by credit purchase on 
promise to pay on any future date not usually more than one 
year.

Bill Receivable ie; ammount earned but not received
 
while 

Bill payable ie; expenses incurred but not paid.

B/P:   AN AMOUNT WHICH A COMPANY OWES TO VENDOR FOR 
PRODUCT AND SERVISES PURCHASED ON CREDIT.

B/R:  MONEY WHICH A VENDOR OWES TO COMAPNY FOR PRODUCT AND 
SERVISES PURCHASED ON CREDIT.

Bills receivables means:We have provided services or goods for customers on that period we have not take any cash or chque,we have to receive in future its calles bills receivables.(credit sales).


Bills payables means: we have received goods for the suppliers on that time we have not pay any amount,we have to pay in future its called bills payables..(credit purchases)

Bills Receivable means bill drawn by the creditor and dually
accepted by the debtor
Bills Payable means bill drawn by the trader and dually
accepted by the creditor