Stripe has an automatic collection workflow for invoices.
Customers and products/prices should be set up before invoicing.
Invoices go through a lifecycle of draft, open, paid, voided, or uncollectible.
Draft invoices are editable and unsent, while open invoices are finalized and awaiting payment.
Paid invoices are terminal and cannot change status.
Voiding an invoice maintains a paper trail and makes it zero-value for reporting purposes.
Uncollectible invoices are for when customers cannot pay and allow for tracking of bad debt.
Draft invoices can be deleted at any time.
Stripe can automatically charge customers for invoices.
Customer emails can be enabled for sending email receipts.

Test your knowledge of Stripe's invoicing features with this informative quiz! From the basics of setting up customers and products, to understanding the lifecycle of invoices, and the different statuses they can have, this quiz will challenge your understanding of the invoicing process. Learn about automatic collection workflows, email receipts, and how to handle uncollectible invoices. Impress your colleagues with your newfound knowledge of Stripe's invoicing capabilities!