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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)
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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Description
Test your knowledge of invoice statuses and actions with this quiz. Explore the different stages an invoice can go through, from draft to paid, and learn about finalizing, voiding, and deleting invoices.
