Podcast
Questions and Answers
What is the terminal status of an invoice?
What is the terminal status of an invoice?
What is the purpose of a voided invoice?
What is the purpose of a voided invoice?
What can you do with a draft invoice?
What can you do with a draft invoice?
Study Notes
- An invoice goes through five statuses: draft, open, paid, voided, and uncollectible.
- Draft invoices are still editable, but are unsent.
- Paid invoices are terminal and can never take on another status.
- Voided invoices are conceptually similar to deleted invoices, but maintain a paper trail.
- Uncollectible invoices are those for which the customer will not be able to pay.
- You can mark an invoice as paid, voided, or uncollectible.
- You can delete a draft invoice at any time.
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Description
Test your knowledge of invoice statuses and their characteristics with this quiz. Learn about draft, open, paid, voided, and uncollectible statuses, including their implications and actions that can be performed on each status.
