There are 6 possible invoice statuses, each described below.
Pending This is the status that invoices are in when they are first created (invoices are created automatically after a buyer wins an auction or uses the Buy-It-Now feature). It is at this point that you have the opportunity to review the invoice for accuracy, and add any other related charges, such as tax, shipping (if applicable), and/or handling fees.
Unpaid Use this status to mark invoices that haven’t been paid yet. This allows you to track who still owes you money. This is usually the state in which you will first send invoices to your buyers.
Paid Once a buyer pays you, this is the status that you will move their invoice to. It’s a good habit to email them a copy of the invoice in the paid state for their own records.
Past Due Move invoices into this status if the buyer has not paid by the agreed upon date, which should be specified in your sale terms and conditions. It’s appropriate to send the buyer a reminder email with the invoice at this point.
Disputed Buyers who receive invoices have the opportunity to dispute the invoice. You wil be notifed of any disputed invoices and have a chance to rectify any issues that the buyer has with the invoice.
Closed Move invoices to the Closed status which you know have been paid for and fulfilled. Don’t move invoices into this state unless you’re sure the buyer has received their goods and you have received payment in full.