Business
What invoice statuses mean on the Business page
Understand draft, open, paid, overdue, and invoice payment figures.
Invoice statuses help you understand the progress of customer invoices. They are important because they show whether money has been requested, received, or still needs follow-up.
What to check
- Draft invoices are still being prepared.
- Open invoices still need payment or action.
- Paid invoices have been fully paid.
- Overdue invoices have passed the expected payment date if due dates are being used.
- Recorded invoice payments show money actually recorded against invoices.
- Average invoice value gives a general idea of the typical size of invoices created.
Useful tips
- Invoice value is not the same as cash received.
- Cash is only received when payment is recorded.
- Overdue invoice value should be reviewed regularly because it affects cash flow.
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Bizwazi helps small businesses record sales, expenses, invoices, inventory, bills, transfers and daily balances so the money makes more sense.