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Invoice Status Quiz
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Invoice Status Quiz

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Questions and Answers

What status does an invoice have when it’s awaiting customer payment?

  • Draft
  • Pending
  • Paid
  • Open (correct)
  • What is the difference between voiding and deleting an invoice?

  • Voiding an invoice maintains a paper trail (correct)
  • Voiding an invoice doesn't maintain a paper trail
  • Deleting an invoice maintains a paper trail
  • Deleting an invoice doesn't maintain a paper trail
  • When can you delete a draft invoice?

  • When it’s pending
  • When it’s paid
  • When it’s open
  • At any time (correct)
  • Study Notes

    • An invoice moves through different statuses from the time it’s created to when it’s paid.
    • Draft invoices are still editable and remain unsent.
    • Pending invoices are automatically charged when their associated payment intent is in the pending state.
    • Open invoices are the status an invoice has when it’s awaiting customer payment.
    • Paid invoices are the status an invoice has when a customer pays for it.
    • Voided invoices are conceptually similar to deleting (canceling) them. However, voiding an invoice maintains a paper trail, which allows you to look up the invoice by number.
    • Uncollectible invoices are the status an invoice has when a customer can’t pay the outstanding balance.
    • 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 on the different statuses an invoice goes through from creation to payment, including draft, pending, open, paid, voided, and uncollectible. Learn about when invoices can be edited, automatically charged, and marked as paid, void, or uncollectible.

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