Bill Receivable Book

Bill receivable book is part of subsidiary books in which we record all bills whose payment, we have to get from our customer at the time of maturity. In this book, we write S.No., date of receipt of bills, from whom we received these bills, due date, amount and remarks.

Posting of bills receivable book

a) We open bill receivable account and debit side of this account, we write to totals as per bills receivable book. Amount of this will be taken by totalling of one months bills.

b) We also open each and every customer account who issued these bills  and in the credit side of  that customer, we write by bills receivable account.