Podcast
Questions and Answers
What is the status of a draft invoice?
What is the status of a draft invoice?
- Terminal and cannot change status
- Editable and unsent (correct)
- Finalized and awaiting payment
- Not payable
What is the purpose of voided invoices?
What is the purpose of voided invoices?
- To maintain a paper trail and not be payable (correct)
- To finalize and await payment
- To automatically transition to paid
- To track bad debt for reporting purposes
When do invoices with an amount due less than the minimum chargeable amount automatically transition to paid?
When do invoices with an amount due less than the minimum chargeable amount automatically transition to paid?
- When they are in draft status (correct)
- When they are in paid status
- When they are in uncollectible status
- When they are in open status
What is the purpose of uncollectible invoices?
What is the purpose of uncollectible invoices?
What needs to be created before using Stripe Invoicing?
What needs to be created before using Stripe Invoicing?
Study Notes
- Stripe has an automatic collection workflow for invoices
- Customers and products need to be created before using Stripe Invoicing
- Invoices go through a lifecycle of draft, open, paid, voided, or 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 and are not payable
- Uncollectible invoices track bad debt for reporting purposes
- Invoices with an amount due less than the minimum chargeable amount automatically transition to paid
- Draft invoices can be deleted at any time.
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Description
Test your knowledge on Stripe Invoicing with this quiz! Learn about the lifecycle of invoices and the automatic collection workflow, as well as important details like creating customers and products before using the service. See how much you know about draft, open, paid, voided, and uncollectible invoices, and find out if you understand the minimum chargeable amount and how it affects invoice status. Don't forget to brush up on deleting draft invoices too!
