A bill receivable template is a commercial document which serves as a proof that some payment is to be made on same or future date. This document is usually used to secure some short term findings. This document is sent by the debtor to the recipient to whom he agrees to make the payment along with detailed information about the payment like amount, date of payment, mode of payment, reason for the payment etc. A bill of exchange and a promissory note is an example of a most commonly used bill receivable. A bill receivable template is drafted in formal…