> ## Documentation Index
> Fetch the complete documentation index at: https://docs.aiinsurance.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Mark Transaction Status Function

The **Mark Transaction Status** function allows you to update the status of any financial transaction in the system. This function is available across multiple sections of the platform for comprehensive financial transaction management.

## Where to Access Mark Transaction Status

The **Mark Transaction Status** function is available in multiple locations throughout the platform, but you can primarily find it in the **Financial** sidebar by following these steps:

<Tabs>
  <Tab title="Step 1">
    Find **Financials** in the sidebar navigation. Locate and access the **Transactions** section

    <img src="https://mintcdn.com/aiinsurance-1ef97d09/EK6v5vFCI_N-ietI/financials/invoicing/images/step-1.png?fit=max&auto=format&n=EK6v5vFCI_N-ietI&q=85&s=9da01daf1d3de93bbdede5c927d4ba55" alt="Step 1: Find Financials in sidebar navigation" title="Step 1: Find Financials in sidebar navigation" style={{ width:"80%" }} width="2860" height="1338" data-path="financials/invoicing/images/step-1.png" />
  </Tab>

  <Tab title="Step 2">
    1. Select Transaction: Click on the transaction you want to update
    2. Open Status Menu: Click the **Mark As** dropdown button
    3. The interface adapts based on your selections and available actions

    <img src="https://mintcdn.com/aiinsurance-1ef97d09/EK6v5vFCI_N-ietI/financials/invoicing/images/step-2.png?fit=max&auto=format&n=EK6v5vFCI_N-ietI&q=85&s=2a592b4fe633f89c48c811a49c5625ed" alt="Step 2: Mark Transaction Status interface" title="Step 2: Mark Transaction Status interface" style={{ width:"90%" }} width="2508" height="470" data-path="financials/invoicing/images/step-2.png" />

    The Mark Transaction Status function enables you to change the status of any financial transaction to one of four available statuses: **Approved**, **Paid**, **Owed**, **Void**
  </Tab>
</Tabs>

## Other locations

* **Financials Section**: For system-wide transaction management
* **Policy Financials Tab**: For policy-specific transaction updates
  * Navigate: [**Policies**](https://aiinsurance-1ef97d09.mintlify.app/policing/policy-management/viewing-a-policy) → Select policy → Financials tab
* **Event Financials Tab**: For event-related transaction changes
  * Navigate: [**Events**](https://aiinsurance-1ef97d09.mintlify.app/events/view-events/view-events) → Select event → Financials tab

**Status Change Restrictions:**

* Paid transactions should generally not be changed to Owed (create reversing entry instead)
* Void transactions cannot be reactivated (create new transaction if needed)
* Always verify impact before changing from Paid status

## Understanding All Transaction Statuses

<Tabs>
  <Tab title="Approved">
    Use the Approved status when an invoice has been reviewed and validated, is ready for payment processing, or is awaiting final payment execution.
  </Tab>

  <Tab title="Paid">
    Transaction has been successfully completed and payment received. Use it when payment has been confirmed and processed
  </Tab>

  <Tab title="Owed">
    Transaction is outstanding and awaiting payment. Use it for unpaid invoices that are due for collection
  </Tab>

  <Tab title="Void">
    Transaction has been cancelled and is no longer active. For billing errors, cancellations, or corrections.

    <Warning>
      Voided invoices cannot be adjusted further once their status is set to **"void"**
    </Warning>
  </Tab>
</Tabs>

## Integration with Stripe

For customers with premium billing enabled, invoices issued through Stripe can be updated using the **Mark Transaction Status** function. Any status changes are automatically synchronized with the Stripe dashboard, ensuring consistency across both platforms. This applies to all Stripe transaction types.