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Questions and Answers
What is the automatic collection workflow in Stripe Invoicing?
What is the automatic collection workflow in Stripe Invoicing?
- The process of sending email receipts to customers for paid invoices
- The process of deleting draft invoices
- The process of invoices moving through different statuses from creation to payment (correct)
- The process of creating customers and products and prices to facilitate future transactions
What happens to draft invoices in Stripe Invoicing?
What happens to draft invoices in Stripe Invoicing?
- They are deleted automatically
- They remain editable and unsent (correct)
- They are automatically sent to the customer for payment
- They become uneditable and sent to the customer for payment
What is the terminal status for paid invoices in Stripe Invoicing?
What is the terminal status for paid invoices in Stripe Invoicing?
- Uncollectible
- Paid (correct)
- Open
- Voided
What is the purpose of voiding an invoice in Stripe Invoicing?
What is the purpose of voiding an invoice in Stripe Invoicing?
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When can you delete an invoice in Stripe Invoicing?
When can you delete an invoice in Stripe Invoicing?
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Study Notes
Automatic Collection Workflow in Stripe Invoicing
- Automatic collection allows businesses to automatically charge customers for invoices when they are due.
- Customers are notified about upcoming invoices and charges via email.
- The workflow can include automatic retrying of failed payments based on defined schedules.
Draft Invoices in Stripe Invoicing
- Draft invoices are not sent to customers until they are finalized.
- Users can edit draft invoices before sending them.
- Draft invoices can be converted into final invoices, which initiate the payment process.
Terminal Status for Paid Invoices
- The terminal status for paid invoices is “paid.”
- Once an invoice reaches a paid status, it indicates that the customer has settled the invoice amount.
Purpose of Voiding an Invoice
- Voiding an invoice effectively cancels it, eliminating the payment obligation.
- The voided invoice remains in the system for record-keeping but cannot be paid.
- This action serves to correct errors in previously issued invoices.
Deleting an Invoice in Stripe Invoicing
- Invoices can only be deleted if they are in draft status.
- Once an invoice is finalized or sent to the customer, it cannot be deleted.
- This helps maintain a clear and accurate financial record.
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