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It seems Bills Receivables is different from the Normal Invoice (below is reponse i got in other forum)
Bills Receivable Transactions is An Agreement Made Between The User And Their Customer In Which The Customer Promises To Pay A Specified Amount On A Specified Future Date, Known As The Maturity Date. A Bills Receivable Effectively Replaces (And Closes) Invoices And Credit Notes That Have Been Issued By The User To The Customer. Normally A Bills Receivable Is Accompanied By Details Of The Drawee’s Bank Account, But It Is Not Obligatory.
Where as normal transaction is created to capture the details of sale of goods or services.
Edited by: Kamal on 15-Feb-2013 05:59