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Join nowHey there, kouriati.
I'll be happy to discuss with you the difference between a Paid and Closed status on a transaction.
The Paid status on the sales tab is for the invoices that have been fully paid. On the other hand, the Closed status is for the payments, estimates, credit memos, sales receipts, delayed credits, and delayed charges that have been applied to another transaction.
For more details about sales transactions, you can check this article: View sales transaction.
Please let me know in the comment section if you have any further questions. Thanks for dropping by.
Thank you for the response.
So this means that an Invoice that is Paid cannot be Closed at the same time?
Because I am confused, I see the same Invoice marked both as Paid and as Closed.
If the Status should only be Paid (because I received Payment for the Invoices) how can I remove the "Closed" status from a transaction?
Does the double status of an Invoice affects the accuracy of the Balance and Reports?
Thanks
Thank you for the response.
So this means that an Invoice that is Paid cannot have the status Closed at the same time?
Because I am confused, I see the same Invoice marked both as Paid and as Closed.
If the Status should only be Paid (because I received Payment for the Invoices) how can I remove the "Closed" status from a transaction?
Does the double status of an Invoice affect the accuracy of the Balance and Reports?
Thanks
Good day, kouriati,
With regard to the paid and closed statuses, the Closed status applies to the payment transaction, while the Paid status applies to the invoice when it's paid in full.
You can refer to the screenshot below:
As you can see on the screenshot provided, the Closed status is linked to the payment transaction for the Paid invoice.
I hope this clarifies your question about the difference between the two. Let me know if you have additional questions.
So to answer my question, an Invoice can have both a Paid and a Closed status, correct?
Why does the Paid status shows as negative?
Thanks for the quick response, kouriati.
Invoices have Paid, Open, or Overdue statuses. On the other hand, payments that are linked to an invoice, will either show as Closed or Partial depending on how you receive the payment.
If the Paid status show as negative on the Invoice, then we can perform a troubleshooting steps to isolate the issue. Here’s how:
Let’s use a private or incognito window. This type of window does not store any caches that causes an unexpected browser issue.
If it works, you can go back to your regular browser and clear its cache. The piled cache is one of the reasons why you encounter issues on the pages you’ve opened.
You can also use a different supported browser.
You can always get back to me if you still need my help.
The negative amount is on the Payment not the Invoice transaction line. Is this normal?
Yes, this is normal, @kouriati.
The negative amount on the Payment line zeroes out the Paid invoice. This ensures your customer balance won't be doubled and your financial reports are accurate.
I'm adding a screenshot below where you can see the positive and negative amounts ($110.00) from the paid invoice and its associated payment.
With the Sales page, it lets you view the statuses of your sales transactions. This also gives you an instant picture of your open and recently paid invoices. From there, you can create, edit, and easily manage them. For more details, check out this article: Sales Menu.
You can also run any sales reports by going to Reports from the left menu. Then, select your preferred report in the Sales and customers section. Once a report is pulled up, it helps you get a snapshot of your sales performance of your business.
I'll be right here to help if you have other concerns. Have a great day, @kouriati.
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