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Questions and Answers
What happens to an invoice when a customer pays for it?
What happens to an invoice when a customer pays for it?
- It moves to the draft status
- It moves to the paid status (correct)
- It is finalized
- It is deleted
What is the difference between voiding an invoice and deleting an invoice?
What is the difference between voiding an invoice and deleting an invoice?
- Voiding an invoice is conceptually similar to deleting it (correct)
- Voiding an invoice makes it uncollectible
- Deleting an invoice makes it uncollectible
- Voiding an invoice makes it inaccessible
When can you write off an invoice as unlikely to be paid?
When can you write off an invoice as unlikely to be paid?
- When it is open
- When it is paid
- When it is uncollectible (correct)
- When it is voided
Study Notes
- Invoices move through different statuses, from draft to paid.
- You can finalize an invoice, or delete it.
- Pending invoices are draft invoices that are still editable.
- When a customer pays for an invoice, the invoice moves into the paid status.
- Voided invoices are conceptually similar to deleting (canceling) an invoice.
- After you void an invoice, the Hosted Invoice Page is still accessible.
- You can only void invoices when they're open or uncollectible.
- Uncollectible invoices are invoices that are unlikely to be paid.
- You can write off an invoice as unlikely to be paid, and update the invoice's status to be uncollectible.
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Description
Test your knowledge of invoice statuses and actions with this quiz. From draft to paid, understand the different stages an invoice can go through, and how to manage them.
