3 Questions
What is an invoice?
A record of a financial transaction between a customer and a merchant
When a customer pays for an invoice, what status does it move into?
Paid
When can an invoice be voided?
When it's open
Study Notes
- An invoice is a record of a financial transaction between a customer and a merchant.
- An invoice can have one of five statuses: pending, draft, paid, voided, or uncollectible.
- When a customer pays for an invoice, the invoice moves into the paid status.
- Voided invoices are treated as zero-value for reporting purposes.
- After you void an invoice, the Hosted Invoice Page is still accessible.
- You can only void invoices when they're open or uncollectible.
Test your knowledge about invoice statuses and their management, including voiding and payment processes.
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