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In Accountancy, are Bills receivable and Accounts receivable the same?

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Question ajoutée par Ahmed Saeed , Supply Chain and Purchasing Manager , Tuff Gear Ltd.
Date de publication: 2014/01/16
Mohan Cherian
par Mohan Cherian , Senior Accountant , First Bateel General Trading & Contracting Co. (Al Roumi Group )

A/R is accounts receivables is funds receivable from credit sales

Bills receivable is related to Bill of exchanges receivables 

Utilisateur supprimé
par Utilisateur supprimé

no. bills is relatesd to sales but A/R  may be not sales

Ahmed Hamdy Mohamed Mohamed Mohamed
par Ahmed Hamdy Mohamed Mohamed Mohamed , Assistant Financial Manager , El Shahd Contracting, Export and Import

Yea if u mean debit. And no if u mean security level.

Kristine Castillo
par Kristine Castillo , HR SSC Knowledge Base Administrator , Pearson

Bills are receivables in nature because  a person needs to pay on what they owe. While the term "account" is generic. Generic in a way that a bill can be an account of a person, a vendor, etc. You can quote an "account/s"as a payable or a receivable.  

Irene Porcalla
par Irene Porcalla , Senior Accountant , SDAC Consulting DMCC

Bill receivables are those bills whose amount will be received on due date from debtor or the person whose name in it as drawee.  Accounts Receivables are money owed by customers to an entity in exchange for goods or services that have been rendered or delivered. In accountancy i would say that they are the same based on the above definition.

Utilisateur supprimé
par Utilisateur supprimé

Yes both are same.

Term Bills Receiveable is usually used in british system and Accounts Receiveable in American System.

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