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Questions and Answers
True or false: Customers, products, and prices must be set up before using Stripe Invoicing.
True or false: Customers, products, and prices must be set up before using Stripe Invoicing.
True (A)
True or false: Stripe Invoicing has four invoice statuses.
True or false: Stripe Invoicing has four invoice statuses.
False (B)
True or false: Draft invoices in Stripe Invoicing cannot be edited.
True or false: Draft invoices in Stripe Invoicing cannot be edited.
False (B)
True or false: Voided invoices in Stripe Invoicing are payable.
True or false: Voided invoices in Stripe Invoicing are payable.
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True or false: Uncollectible invoices in Stripe Invoicing are used for tracking bad debt.
True or false: Uncollectible invoices in Stripe Invoicing are used for tracking bad debt.
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Study Notes
- Stripe has an automatic collection workflow for invoices
- Customers, products, and prices should be set up before using Stripe Invoicing
- Invoices have a lifecycle that includes statuses
- There are five invoice statuses: draft, open, paid, voided, and uncollectible
- Draft invoices are editable and unsent
- Open invoices await customer payment and can be sent, marked as paid, voided, or uncollectible
- Paid invoices are terminal and cannot be changed
- Voided invoices maintain a paper trail and are not payable
- Uncollectible invoices are for when customers cannot pay and are used for tracking bad debt
- Draft invoices can be deleted at any time
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