Podcast
Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App
Questions and Answers
What is the final stage of an invoice's lifecycle?
What is the final stage of an invoice's lifecycle?
- Draft
- Open
- Voided
- Uncollectible
What does deleting a draft invoice do?
What does deleting a draft invoice do?
- Creates a paper trail
- Sends the invoice
- Removes the invoice from the system
- Allows for further editing
What is the status of an invoice when it is awaiting customer payment?
What is the status of an invoice when it is awaiting customer payment?
- Draft
- Paid
- Voided
- Open
Flashcards are hidden until you start studying
Study Notes
- An invoice's status can be one of draft, paid, voided, or uncollectible.
- Draft invoices are still editable, but are unsent.
- Open invoices are the first stage of an invoice's lifecycle, and indicate that the invoice is awaiting customer payment.
- Paid invoices are the final stage of an invoice's lifecycle, and indicate that the customer has paid for the invoice.
- Voided invoices are conceptually similar to deleted invoices, but maintain a paper trail.
- Uncollectible invoices indicate that the customer will not be able to pay the outstanding balance.
- You can delete a draft invoice at any time.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
