Podcast
Questions and Answers
What happens to an invoice when a customer pays for it?
What happens to an invoice when a customer pays for it?
What is the purpose of voiding an invoice?
What is the purpose of voiding an invoice?
Under which circumstances can an invoice be voided?
Under which circumstances can an invoice be voided?
Study Notes
- An invoice is a record of a financial transaction between a customer and a merchant.
- An invoice can have one of five statuses: pending, draft, paid, voided, or uncollectible.
- When a customer pays for an invoice, the invoice moves into the paid status.
- Voided invoices are treated as zero-value for reporting purposes.
- After you void an invoice, the Hosted Invoice Page is still accessible.
- You can only void invoices when they're open or uncollectible.
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Description
Test your knowledge on the statuses and management of invoices, from pending to voided. Learn about the implications of different statuses and how they affect financial reporting.
