5 Questions
What is the purpose of setting up customers and products/prices in Stripe?
To create invoices
What is the status of a draft invoice?
Editable and unsent
What is the purpose of voided invoices?
To maintain a paper trail
Can paid invoices change status?
No
What is the purpose of uncollectible invoices?
To track bad debt
Study Notes
- Stripe has an automatic collection workflow for invoices
- Customers and products/prices need to be set up first
- Invoices have a lifecycle with different statuses
- There are five invoice statuses: draft, open, paid, voided, and uncollectible
- Draft invoices are editable and unsent
- Open invoices are finalized and awaiting payment
- Paid invoices are terminal and cannot change status
- Voided invoices maintain a paper trail but are zero-value
- Uncollectible invoices are for tracking bad debt
- Draft invoices can be deleted at any time
Test your knowledge of Stripe's invoice lifecycle with this quiz! From setting up customers and products/prices, to understanding the different invoice statuses, this quiz covers it all. Can you identify the five invoice statuses and explain what each one means? Do you know when invoices can be edited or deleted? Put your Stripe invoice knowledge to the test and take this quiz today!
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