what is Bills Receivables and Bills Payables?
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Answer Posted / sandeep rao
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 Receivables :- purchase bills received from party &
bills payable :- you have to pay creditors bills as per his
bills amount (deducted his TDS), That is called bills
receivable & payable.
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