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TeachMeFinance.com - explain Bill receivable historic definition... Bill receivable -- A written evidence of debt that is payable to the holder; a promissory note or an acceptance (a bill of exchange that has been accepted) is in the hands of a person to whom it is payable a bill receivable. A bill receivable that is included under the head commercial paper is a promissory note that has been received for goods sold and that has in order to effect its discount (sale) been indorsed by the party who received it. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.