3 Questions
What happens to a paid invoice?
It can take on another status.
What can you do with a draft invoice?
Delete it.
What is the conceptually similar to voiding an invoice?
Deleting it.
Study Notes
- Invoices move through different statuses from pending to paid.
- Draft invoices are still editable, but remain unsent.
- Paid invoices are terminal and can never take on another status.
- Voided invoices are conceptually similar to deleting (canceling) them.
- Uncollectible invoices are when a customer won't be able to pay their outstanding bill.
- You can mark an invoice as paid, void, or uncollectible.
- You can delete a draft invoice at any time.
Test your knowledge on the different statuses of invoices, from draft to paid, and the actions that can be taken for each status. This quiz covers concepts like marking invoices as paid, void, or uncollectible, and the implications of each status.
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