QB Issue Resolution:

Both are expenses. The difference is a bill represents something you are going to pay for at a later time, while a receipt represents something you’ve already paid.

Resolution for Issue 'Whats the difference between creating a bill vs creating an expense' available: Yes (Solved).
Source: Intuit Community forum.

Whats the difference between creating a bill vs creating an expense: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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