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Questions and Answers
What is the status of a draft invoice?
What is the status of a draft invoice?
- Open (correct)
- Paid
- Voided
- Uncollectible
What is the process of voiding an invoice?
What is the process of voiding an invoice?
- Deleting it
- Editing it
- Moving it to a paid status
- Making a paper trail (correct)
What can you do with a draft invoice?
What can you do with a draft invoice?
- Make a paper trail
- Move it to a paid status
- Delete it (correct)
- Mark it as uncollectible
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Study Notes
- An invoice goes through five statuses: draft, open, paid, voided, and uncollectible.
- Draft invoices are still editable, but are unsent.
- When a customer pays for an invoice, the invoice moves into the paid status.
- Voided invoices are conceptually similar to deleting (canceling) them, but maintain a paper trail.
- Uncollectible invoices are sometimes in this state.
- You can mark an invoice as paid, void, or uncollectible.
- You can delete a draft invoice at any time.
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