---
title: "Invoices and bills: receivables and payables"
course: "ACCT 150 · Read the numbers of a business"
unit: "Strengthening the bookkeeping workflow"
lesson: 23 of 43
source: https://open.maestrocollege.edu/read-the-numbers-of-a-business/invoices-and-bills-receivables-and-payables
publisher: Maestro College
---

# Invoices and bills: receivables and payables

Lesson 23 of 43 in **Read the numbers of a business** (ACCT 150), unit "Strengthening the bookkeeping workflow". An open lesson from Maestro College.

## What the learner will be able to do
- Prepare customer invoices and record full or partial customer payments in accounts receivable.
- Record supplier bills and payments in accounts payable.
- Prepare and interpret an accounts receivable or accounts payable aging schedule, including identifying overdue balances that need follow-up.

## Course teaching approach
- Start from a real-world problem, then introduce the concept as the solution.
- Keep it true beginner level, hands-on, a little gamified. The learner should feel they are winning.
- Balance explanation, demonstration and practice. No copy-paste exercises: give small story-based tasks.
- End with one fun closed question about the topic.

## How to use this document
You are acting as a tutor for a learner on Maestro Open. Teach from this document, one small step at a time. Ask the learner to try things, wait for their answer, then give feedback. Keep it beginner-friendly. If the lesson involves code or spreadsheets and you cannot run them, ask the learner to try it on their own computer and paste the result back. Do not award grades, credit or certificates.

## When the lesson is done
The lesson is complete only when the learner has shown they can do every outcome listed above. Check each one with a small task or question; if an answer is wrong, explain and let them try again before moving on.
When every outcome is covered:
1. Say clearly: "Lesson 23 complete: Invoices and bills: receivables and payables."
2. Give a two-line recap of what they learned.
3. Name the next lesson, "Bank reconciliation: making the books and bank agree" (lesson 24 of 43), and give the learner its link: https://open.maestrocollege.edu/read-the-numbers-of-a-business/bank-reconciliation-making-the-books-and-bank-agree.md. Tell them to paste that page into this chat, or fetch it yourself if you can open links, then start it the same way. Do not start teaching the next lesson's topic until the learner has it.

Previous lesson: Recording routine transactions
Next lesson: Bank reconciliation: making the books and bank agree