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Questions and Answers
What is the lifecycle of Stripe invoices?
The lifecycle of Stripe invoices is draft, open, paid, voided, and uncollectible.
Can invoices in Stripe be edited after they have been marked as paid?
No, paid invoices are terminal and cannot be edited.
Why are voided invoices still important for reporting purposes?
Voided invoices maintain a paper trail but are treated as zero-value for reporting purposes, which is important for tracking and accounting purposes.
Study Notes
- Stripe has an automatic collection workflow for invoices
- Customers and products/prices need to be created before using Stripe Invoicing
- Invoices go through a lifecycle of draft, open, paid, voided, and uncollectible
- Stripe automatically charges customers shortly after generating the invoice
- Invoices can be sent to customers if enabled
- Draft invoices can be edited, finalized, or deleted
- Open invoices are awaiting customer payment and can be marked as paid, void, or uncollectible
- Paid invoices are terminal and cannot take on another status
- Voided invoices maintain a paper trail but are treated as zero-value for reporting purposes
- Uncollectible invoices allow tracking for reporting purposes as part of bad debt accounting process
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Description
Test your knowledge of Stripe Invoicing with this quiz! Learn about the automatic collection workflow, invoice lifecycles, and how to manage draft, open, paid, voided, and uncollectible invoices. This quiz will help you understand the basics of Stripe Invoicing and ensure you know how to create customers and products/prices before generating invoices. So, put your knowledge to the test and see how well you know Stripe Invoicing!
