In plain English
It marks the point when the money has actually reached the person or organisation expecting it. It is a status showing that the amount due to be paid has been received.
In context
Here, it reports that the person or organization due to be paid has received the money.
- Situation
- Understanding invoices, billing statements, balances, due dates, credits, and receipts
- What it communicates
- reports that a payment has been received
Meaning limits
By itself, this status does not say whether the amount received matched the full amount that was expected.
Examples
“The rent was marked as payment received when the landlord got the transfer, although the amount later proved short.”
“Only after the supplier has the money should the invoice show payment received.”