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?