| Points | Bill Receivable | Bill Payable |
| 1. Meaning | After accepting the bill when acceptor of the bill returns the bill to the drawer of the bill then it becomes a bill receivable for drawer of a bill, means for a bill when amount is receivable then the bill is known as bill receivable. | After accepting the bill when acceptor of the bill returns the bill to the drawer of the bill then it becomes a bill payable for acceptor of a bill, means for a bill when amount is payable then the bill is known as bill payable. |
| 2. Amount | For whom the amount is receivable, it is a bill receivable. | For whom the amount is payable, it is a bill payable. |
| 3. Which type of Amount? | It is one kind of receivable amount. | It is one kind of payable amount. |
| 4. Where is it shown? | It is shown on the Assets-Receivables side of a Balance Sheet. | It is shown on the Capital-Liabilities side of a Balance Sheet. |
| 5. Transfer of Bill | Transfer of ownership is possible as bill receivable is an asset. | Generally, transfer of payment of debt is not possible. |
| 6. Creditor or Debtor | Generally, drawer of a bill is a Creditor. | Generally, acceptor of a bill is a debtor. |
