Bill is a piece of paper that is used in different forms that is home bills, commercials etc. In accounting bill is used in the form of promissory note, bill of exchange etc. Payments are made in the form of bill.

Bills Payable Book

Bills Payable Book: Learning Objectives: Define and explain bills payable book. Prepare a bills payable book and post into ledger. Definition and Explanation: Bills payable book is used to record bill accepted by us. When a bill drawn by our creditor is accepted particulars