Invoice status shows where an invoice is in the billing process.
Draft
The invoice is being prepared and can still be edited.
Sent
The invoice has been issued to the client. The invoice represents the demand the client received.
Paid
The invoice has been settled.
Ledger should also have a transaction or linked payment record showing that money actually moved.
Voided
The invoice has been withdrawn.
Voided invoice lines may return to the available billing pool if they are not claimed by another active invoice.