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Questions and Answers
What is the purpose of the draft status for invoices in Stripe?
What happens to paid invoices in Stripe?
How does Stripe handle uncollectible invoices?
Study Notes
- Stripe has an automatic collection workflow for invoices.
- Customers and products/prices need to be set up before creating invoices.
- Stripe offers both Dashboard and API for invoicing.
- Invoices go through a lifecycle of draft, open, paid, voided, and uncollectible.
- Draft invoices are editable and unsent, open invoices are awaiting payment.
- Paid invoices are terminal and cannot change status.
- Voided invoices maintain a paper trail but are zero-value and not payable.
- Uncollectible invoices are for when customers can't pay and are used for bad debt accounting.
- Invoices can be deleted at any time if they are still in draft status.
- Stripe can automatically charge customers shortly after generating an invoice.
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Description
Test your knowledge of Stripe's invoicing features with this informative quiz! Learn about the steps involved in creating invoices, the different statuses they can go through, and how Stripe can help automate the process. Sharpen your skills in invoicing with this quiz and impress your colleagues with your knowledge of Stripe's invoicing capabilities!
