When your customer pays an invoice, several numbers on your dashboard update immediately. This article explains what changes where.
Paid this month
The Paid this month card on the dashboard sums every invoice with status Paid whose payment date falls in the current calendar month.
The payment date is the moment Interac confirmed the transfer settled — usually within a minute of the customer clicking Accept in their online banking.
Outstanding
The Outstanding card drops by the paid invoice's total. Outstanding is the sum of unpaid Sent and Viewed invoices; once an invoice becomes Paid, it no longer counts.
Overdue
If the paid invoice was Overdue at the moment it was paid, the Overdue card drops by that invoice's total as well.
Collection rate
The Collection rate metric (in the How you're doing block) increases when a Sent or Viewed invoice moves to Paid. It is the percentage of invoices in the current reporting period that have been paid, so the effect on the number depends on the period toggle (Week / Month / Quarter).
Average days to payment
The Average days to payment metric is recalculated including the newly paid invoice. Its days-to-payment is payment date − send date. Depending on whether this invoice was paid quickly or slowly compared to your recent average, the number goes down or up.
Recent invoices
The paid invoice moves to the top of the Recent invoices list with its new Paid status badge.
GST collected
If the invoice had GST or HST, the tax amount is added to the GST collected card for the current month.
