The official business definition of Status Of Invoice is a term used to describe the current state of an invoice. This can refer to whether the invoice has been sent, received, paid, or is still outstanding. The status of an invoice is important for businesses to keep track of, as it helps them to manage their finances and ensure that they are getting paid for the services they provide. It also helps them to keep track of any discrepancies between the amount invoiced and the amount received. Knowing the status of an invoice can help businesses to quickly resolve any issues that may arise and ensure that their customers are satisfied with the services they have received.