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Questions and Answers
What happens when a customer pays for an invoice?
What happens when a customer pays for an invoice?
- The invoice moves into the paid status (correct)
- The invoice is deleted
- The invoice is finalized
- The invoice is marked as uncollectible
What happens when an invoice is voided?
What happens when an invoice is voided?
- It is deleted
- It is marked as uncollectible
- It is finalized
- It maintains a paper trail (correct)
When can an invoice be deleted?
When can an invoice be deleted?
- When it is open
- When it is uncollectible
- When it is paid
- When it is a draft (correct)
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Study Notes
- An invoice moves through different statuses from draft to paid.
- You can finalize an invoice, or delete it.
- When a customer pays for an invoice, the invoice moves into the paid status.
- Voided invoices are conceptually similar to deleting (canceling) an invoice, but maintain a paper trail.
- You can only void invoices when they're open or uncollectible.
- Uncollectible invoices are when a customer won't be able to pay their outstanding bills.
- You can mark an invoice as paid, void, or uncollectible.
- You can delete a draft invoice at any time.
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