Payment Status Types and the Difference Between Them

When recording a payment on an invoice, the system asks you to specify a payment status. This status describes the payment itself, not the invoice — that is, whether the amount has actually arrived, or whether you’re recording a payment attempt that hasn’t been completed yet. This allows you to keep a record of every collection attempt, whether it succeeded, is still in progress, or failed, instead of only recording collected payments.

Payment Status Types

• Completed: the amount has actually been collected, whether in cash or via a transfer that has appeared in the bank account. The transaction is counted as part of the invoice’s paid amount, reducing its remaining balance.
• Incomplete: a recorded payment for which the corresponding funds haven’t arrived yet, such as a bank transfer the client informed you of that hasn’t appeared in the account statement, an uncashed check, or an electronic payment that was started but not completed. The invoice remains due.
• Pending: a payment whose details have arrived and is awaiting confirmation from the accountant or bank before being approved, used when you want to separate the review step from the final approval step.
  • The payment is saved with this status when the client records the payment through the online store, and it remains in this status until confirmed by a system user.
• Failed: a payment attempt that was rejected or didn’t succeed, recorded with this status to keep a record of it and know the reason for the failed collection when reviewing the invoice later.
• Draft: a payment whose details you’re still preparing and hasn’t become ready yet, used to temporarily save the transaction and return to it later.
• (Select Status): the default value in the list before selection, not an actual status.

The Difference Between the Statuses

• The “Completed” status is the only one that means the amount has been collected, and it’s the one reflected in the invoice’s paid and remaining amounts.
• Any other status keeps the invoice due for its full value, with the payment remaining visible in the invoice’s payments list for follow-up.
• The difference between “Incomplete,” “Pending,” and “Failed” is the reason for the lack of collection: the first is for a payment that hasn’t arrived yet, the second is for a payment awaiting approval, and the third is for an attempt that ended in rejection.

Steps to Specify the Payment Status

1. Open the invoice you want to record the payment on.
2. Click “Add Payment.”
3. Enter the amount and date, then select the payment method and the treasury the amount will be deposited into.
4. From the “Payment Status” list, select the appropriate status for the payment.
5. Click “Add Payment” to save the transaction.
6. The status can be edited later, moving the payment from “Incomplete” or “Pending” to “Completed” once collection is confirmed.

Important Notes

• Don’t select “Completed” until you’ve confirmed the amount has actually arrived, as this affects the invoice’s remaining balance and collection reports.
• Review payments recorded with “Incomplete” or “Pending” status periodically, so that collected invoices don’t remain showing as due.