Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What status means the invoice has been finalized and is awaiting customer payment?
What status means the invoice has been finalized and is awaiting customer payment?
- Draft
- Open (correct)
- Paid
- Voided
Which of the following is true about voided invoices?
Which of the following is true about voided invoices?
- They are the same as deleting them (correct)
- They are the same as paying them
- They are editable
- They are terminal
How can a draft invoice be removed?
How can a draft invoice be removed?
- It can be paid
- It can be voided
- It can be deleted (correct)
- It can be uncollectible
Flashcards are hidden until you start studying
Study Notes
- An invoice moves through different statuses as it moves through the automatic collection workflow.
- Draft invoices are still editable, but remain unsent.
- Open invoices mean the invoice has been finalized and is awaiting customer payment.
- Paid invoices are terminal and can never take on another status.
- Voided invoices are conceptually similar to deleting (canceling) them, but maintain a paper trail.
- Uncollectible invoices are invoices that are unlikely to be paid.
- You can delete a draft invoice at any time.
- Summarize the key facts from the text above in 10 sentences.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
