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Questions and Answers
What happens to a paid invoice?
What happens to a paid invoice?
- It can still be edited
- It can take on another status. (correct)
- It is deleted
- It is marked as uncollectible
What can you do with a draft invoice?
What can you do with a draft invoice?
- Void it.
- Mark it as paid
- Delete it. (correct)
- Mark it as uncollectible
What is the conceptually similar to voiding an invoice?
What is the conceptually similar to voiding an invoice?
- Editing it.
- Deleting it. (correct)
- Marking it as paid
- Marking it as uncollectible
Study Notes
- Invoices move through different statuses from pending to paid.
- Draft invoices are still editable, but remain unsent.
- Paid invoices are terminal and can never take on another status.
- Voided invoices are conceptually similar to deleting (canceling) them.
- Uncollectible invoices are when a customer won't be able to pay their outstanding bill.
- You can mark an invoice as paid, void, or uncollectible.
- You can delete a draft invoice at any time.
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Description
Test your knowledge of invoice statuses and their implications. Learn about the differences between pending, paid, voided, uncollectible, and draft invoices.
