what is Bills Receivables and Bills Payables?
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Answer / alok
Bills Receviable
Bills receviable means when Pappu is selling a goods and
services to the customer callled bills receviable.
Bills Payable
Bills Payable means when Pappu purchased from the party
called Bills Payable.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / sujata
Bills Recivable: when we sold goods then customer is not in
positions to pay that bill then will prepare one document
signed by him stating so n so amount will receive in future
date .
Bills payable : when we bought goods from our supplier, we
have to make payt at that time will write a note i.e.,
Bills payable dualy signed and payable in future.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / prem joel
bills payable is the amount payable to supplier on the
negotiable instrument in the form of bill of exchange given
to supplier.
bills receivable is the amount recievable on the negotiable
in the form of bill of exchange given by customer,
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Answer / mohan kunepalli
Bills Receivables: If any material sales after you will take some amount to Debtors its called a Bills Receivables. For us it is a current Asset.
Bills Payable: If any Material Purchase after you will pay some amount to vendors its called a Bills Payable. For us it is a current Liabilities.
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Answer / amutha
bill receivable means for goods sales at the amount receivable for bills receivable. bills payable at the goods purchases in a a company creditaries bill by the bill payable
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Answer / mr. amit kumar singh, badheya
A bill receivable is a document that your customer formally
agrees to pay at some future date (the maturity date). The
bill receivable document effectively replaces, for the
related amount, the open debt exchanged for the bill. Bills
receivable are often remitted for collection and used to
secure short term funding.
Bills payable (better known as accounts payable) are
expenses that are owed to other companies as a result of
purchasing a product or service on credit.
For example: If a company buys $1,000 of paper towels as
supplies but is not required to pay for 30 days. Accounts
payables for the purchasing company will increase by $1,000.
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Answer / kiran kumar
Bills Receivables is a written promise document
received from the supplier for selling goods. Its a assets
for the company and appears in the balance sheet under
Current assets.
Bills payable:- Bills payable is a written promise document
payable to the supplier for buying goods. Its a liability
for the company and appears in the balance sheet under
Current liability.
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Answer / nitu
its is an unconditional promisary note issued by debtor in the order of creditor.
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Answer / bal reddy
BILLS Receivables: outstanding against credit sales,not yet recieved.
BILLS Payables: outstanding against credit purchases,not yet
paid.
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Answer / yasmeen shaikh
bills payable: when we suppose to make payment or outstanding payment or summary or sundrycreditors will be given in bills payable. bills receiveable : when we are suppose to receive the payment that time we will make bills receiveable .it also showes summary of detors
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