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Study Notes
- Stripe has an automatic collection workflow for invoices.
- Customers and products/prices need to be set up before creating invoices.
- Invoices go through a lifecycle of draft, open, paid, voided, or uncollectible.
- Open invoices are awaiting payment and can be sent or marked as paid, voided, or uncollectible.
- Paid invoices are final and cannot be changed.
- Voiding an invoice maintains a paper trail and is treated as zero-value for reporting purposes.
- Uncollectible invoices are those that customers cannot pay and can be written off for reporting purposes.
- Draft invoices can be edited, finalized, or deleted at any time.
- Stripe can send email receipts if customer emails are enabled.
- Invoices with an amount due less than the minimum chargeable amount are automatically marked as paid.
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