Bill vs Receipt

Both bills and receipts go into the Spending section of Blankitt, but they capture different points in the purchase lifecycle.

The simple rule

• A bill is money you owe (Accounts Payable). The supplier sent you an invoice with payment terms (Net 30, Net 60, etc.). You record the bill now, pay it later.
• A receipt is evidence of money you already spent. You paid at the till, by card, or via cash. You record the receipt after the fact for VAT reclaim and bookkeeping.

Which to use

Scenario	Use this
Office rent invoice from the landlord, due in 30 days	Bill
Monthly hosting subscription invoice paid Net 30	Bill
Legal fees invoice for a Series A, payment terms 14 days	Bill
Bought a printer at Currys with the company card	Receipt
Coffee meeting expensed via the petty cash account	Receipt
Petrol filled on the company fuel card	Receipt

Behind the scenes

• Bill posts: DR Expense + CR Accounts Payable (on Confirm). Then DR Accounts Payable + CR Bank (on payment).
• Receipt posts: DR Expense + CR Bank (single step — there's no AP intermediate because the cash already left).

Both end up posting the expense to the same P&L account. The only difference is whether the cash has already left your account.

See also: Bills overview · Accounts Receivable vs Accounts Payable.