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what is Bills Receivables and Bills Payables?
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Answer / jayant chillal
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
| Is This Answer Correct ? | 874 Yes | 133 No |
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.
| Is This Answer Correct ? | 318 Yes | 73 No |
Answer / pradeep kumar panigrahi
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.
| Is This Answer Correct ? | 390 Yes | 181 No |
Answer / ramesh
BILL RECEIVABLE MEANS THE OUTSTANDING BILL WHICH THE
PAYMENT NOT YET RECEIVED.
BILLS PAYABLE MEANS THE OUTSTANDING BILL WHICH THE PAYMENT
NOT YET MADE.
| Is This Answer Correct ? | 232 Yes | 45 No |
Answer / ramamoorthy
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.
| Is This Answer Correct ? | 98 Yes | 17 No |
Answer / j vijay singh
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.
| Is This Answer Correct ? | 112 Yes | 41 No |
Answer / satheesh sivarajan
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.
| Is This Answer Correct ? | 92 Yes | 28 No |
Answer / raj
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.
| Is This Answer Correct ? | 94 Yes | 41 No |
Answer / dr. mohammed muslim
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.
| Is This Answer Correct ? | 62 Yes | 11 No |
Answer / girish
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.
| Is This Answer Correct ? | 65 Yes | 16 No |
Harpithas due Rs 55000 was settled infull by taking Haris due Rs 12500 in adjustment Pass necessary entry
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