The phrase "paying bill" refers to the act of settling a financial obligation. However, there are several other phrases that can be used as synonyms for this term. For example, "settling accounts" is a more formal way to say paying bills. "Clearing a debt" and "balancing the books" are other phrases that convey the same meaning. Additionally, "covering expenses" is a more general phrase that includes paying bills as one aspect of managing finances. No matter the specific phrasing used, the act of paying bills is an important part of responsible money management.