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Level 1

What is the difference between a PAID and a CLOSED invoice?

I am collecting annual Homeowner Association dues.  I released (emailed out of QBO) invoices and then waited for payment.  Most HOA Members opted to pay with a credit card.  A few paid by check.  In my list of member accounts, some the status of some is set to PAID and some are set to CLOSED.   What is the difference between the two "status" states?

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Best answer October 15, 2018

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Moderator

What is the difference between a PAID and a CLOSED invoice?

Hey there, bruce.

That's a good one. I'll be delighted to discuss with you the difference between a Paid and Closed status on an invoice.

When the status of the invoice is Paid, this means that the customer paid the partial amount and there's still an open balance left. On the other hand, when it's Closed, it means that the invoice is paid in full.

For more details about e-invoicing, you can check out this article: Use e-Invoice.

If you have any further questions, please let me know. Thanks for dropping by.

View solution in original post

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Moderator

What is the difference between a PAID and a CLOSED invoice?

Hey there, bruce.

That's a good one. I'll be delighted to discuss with you the difference between a Paid and Closed status on an invoice.

When the status of the invoice is Paid, this means that the customer paid the partial amount and there's still an open balance left. On the other hand, when it's Closed, it means that the invoice is paid in full.

For more details about e-invoicing, you can check out this article: Use e-Invoice.

If you have any further questions, please let me know. Thanks for dropping by.

View solution in original post

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Level 1

What is the difference between a PAID and a CLOSED invoice?

So why does the status remain open and another transaction shows up with it closed.  For example the invoice is $3550.00.  The customer pays by credit card and the it gets added automatically.  Then when it clears the bank it shows another transaction.  They look like this 3550 paid and -3550 unpaid.  This is messing up my bank reconciliation.  Any suggestions?
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Level 2

What is the difference between a PAID and a CLOSED invoice?

I understand the difference between "Paid" and "Closed", but we have 3 different transactions that are paid in full as of now.. but only one says "Closed" while the other 2 say "Paid" . Is that because there was one check issued for 2 different invoices on the same project?
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Level 10

What is the difference between a PAID and a CLOSED invoice?

"On the other hand, when it's Closed, it means that the invoice is paid in full."
This is wrong.
Invoices never say Closed as their status. They are either Paid, Open or Overdue. It's the Payment transaction that says Closed
Highlighted
Level 1

What is the difference between a PAID and a CLOSED invoice?

My HOA is set up to send "pledges" and not "invoices" each year to residents for their dues.  Regardless of the method in which they paid (check/deposit, transfer, or card), the pledges show different statuses at the end of the transaction.  None have partial balances left and most were paid in full from the start.  So...this answer doesn't reflect what's actually occurring in QBO.  Ugh.
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Level 1

What is the difference between a PAID and a CLOSED invoice?

How do record my payments made to supplier using rebates??

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QuickBooks Team

What is the difference between a PAID and a CLOSED invoice?

Hi @MANGA,

 

It's nice to have you with us in the Community today. I'd be glad to lend a hand with recording payments made to a supplier using rebates. 

 

One option to consider is to utilize a vendor credit to record these rebates from the supplier.  Here's how to make a vendor credit:

 

  1. Select the Plus Icon and then choose Vendor Credit.
  2. Enter the vendor's name in the Choose a vendor field.
  3. Select the Amount, Date and Account, which is to be used for tracking. 
  4. Click Save and Close.


The following article contains additional information about vendor credits and applying them to a bill: How Do I Handle Vendor Credits and Refunds?.

 

Naturally, since all businesses are unique, you may wish to consult with your accountant to ensure the best method is utilized for tracking the supplier rebates. 

 

Please let me know if I can be of additional help. Have a nice day. 

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Level 3

What is the difference between a PAID and a CLOSED invoice?

deleted.

Highlighted
Moderator

What is the difference between a PAID and a CLOSED invoice?

Hello there, @Tawni.

 

Thanks for joining us here in the Community. I'm here to help get this taken care of, but I have some questions about your concern first.

 

I read through the whole thread, and I want to confirm which question you're referring to. May I ask for some additional details? This will help me provide you with the best resolution for your concern.

 

Click the Reply (green) button below to add a comment. You can also mention me by typing "@" before my name (@FritzF).

 

I'm looking forward to your response, @Tawni. Take care and have a good one.

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Level 1

What is the difference between a PAID and a CLOSED invoice?

I am having the same issue for the paid and closed status when I see duplicate transactions. Can someone please answer this question.

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QuickBooks Team

What is the difference between a PAID and a CLOSED invoice?

Let's get to the bottom of this, jenslight.

 

I'd like to get more information though. What transactions are duplicated? Invoices or payments?

 

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. 

 

Refer to the screenshot.

 

 

You can always go back to this thread if you have further information or if you have further questions. You can also mention me so I can get back to you personally. Have a great one! 

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Level 2

What is the difference between a PAID and a CLOSED invoice?

Funny thing though is closed can also mean that the payment didn't go through at QB and the customer reversed the payment- but QB doesn't send an email when that happens.  I WANT A FREAKING EMAIL THAT SAYS THE CUSTOMER PAYMENT DIDN'T GO THROUGH!

Highlighted
Moderator

What is the difference between a PAID and a CLOSED invoice?

Thanks for joining this discussion, jkube.

 

Naturally, you'll be receiving notification of the status of your payment from your QuickBooks Online dashboard. 

 

If you're unable to see this message from your dashboard, go to Alert Center Manually. You can refer to this article for a detailed steps: The Alert Center from the QuickBooks Online Dashboard is not being displayed.

 

Let me know if you have other concerns or questions about customer payments in QBO. I'd be delighted to help you out.

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Level 1

What is the difference between a PAID and a CLOSED invoice?

Don't waste your accountant's time thinking it's necessary because every business is "unique". Go directly to QB support.

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Level 1

What is the difference between a PAID and a CLOSED invoice?

I feel like I'm closing invoices the same way each time, but some invoices are marked paid and some closed. What am I doing wrong?

 

Lori

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QuickBooks Team

What is the difference between a PAID and a CLOSED invoice?

You’re closing it the way you should, @loriwark.


As Kristine Mae mentioned, invoices show as Paid once the payment is linked to it. A Closed status, on the other hand, appears on payments applied to sales transactions.


Here’s a screenshot for visual reference:

 


Below are the invoice statuses and their meaning:

  • Open: Invoice not sent.
  • Open (Sent): Invoices has been sent.
  • Open (Viewed): Customer viewed the invoice.
  • Paid: Customer already paid the invoice.
  • Overdue: Not yet paid and already past due.
  • Overdue (Viewed): Customer viewed the transaction but did not pay the invoice and is already past due.
  • Overdue (Reminded): Has sent reminder to customer for invoice already past due.

For more information, check out the status of invoices via email section in this article: Use e-Invoice


That should answer your concern for today.


Reach out to me if you need anything else. I’m more than happy to help. Take care!
 

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Level 3

What is the difference between a PAID and a CLOSED invoice?

Hi,

I have many invoices paid in full but the status still Paid and not Closed. 

Highlighted
QuickBooks Team

What is the difference between a PAID and a CLOSED invoice?

Hi there, @Matar.

 

I'm here to share information about the invoice statuses in QuickBooks Online.

 

As mentioned by my colleague above the Paid status applies when the invoice received is paid full. While the Closed status, appears to the  payments to sales transactions.

 

If you're referring to the invoice that your customer paid full and it's not a sales transaction the status should be "Paid" in the status column.

 

You can also, check the invoice statuses and their meaning provided by my colleague KhimG. 

 

For more information, about e-invoicing,  you can check this article: Send an invoice.

 

I've also shared these articles for future reference:

 

I'm still here if you need further questions or concerns. Have a good day!


 

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Level 1

What is the difference between a PAID and a CLOSED invoice?

"As mentioned by my colleague above the Paid status applies when the invoice received is paid full. While the Closed status, appears to the payments to sales transactions.

If you're referring to the invoice that your customer paid full and it's not a sales transaction the status should be "Paid" in the status column."

 

 Please help:  An invoice when paid Quicken indicates PAID.  A Sales Transaction Quicken says CLOSED.

   I made an invoice, got paid and now in Quicken there are two entries for the same invoice:  One is 'PAID' the other is 'CLOSED'.  Is that not a double entry?

What is the difference between an invoice and a Sales Transaction?

 

Highlighted
Moderator

What is the difference between a PAID and a CLOSED invoice?

Hey TNTTom,

 

Thanks for chiming in on this discussion. To answer your question, an invoice is funds collected from your customers at a date you set, while a sale receipt is used for the immediate purchase of goods and services. For additional information, I recommend this article. I'm here if you need more assistance. 

 

Highlighted
Level 1

What is the difference between a PAID and a CLOSED invoice?

Why not name the invoice status something that is more intuitive?  If an invoice is Paid in full, it's Paid - end of discussion.   If only partial payment has been made, then the invoice should be listed as Partial or Open.  An invoice doesn't "close".  It's paid or it's not.  

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