3 Questions
What status means the invoice has been finalized and is awaiting customer payment?
Open
Which of the following is true about voided invoices?
They are the same as deleting them
How can a draft invoice be removed?
It can be deleted
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.
Test your knowledge of the invoice collection workflow by understanding the different statuses an invoice can have, such as draft, open, paid, voided, and uncollectible. Learn about the actions that can be taken on each status, including editing, finalizing, voiding, and deleting invoices.
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