What do the contractor invoice statuses mean?

When a contractor submits an invoice on the platform, it will go through several status changes till the payment is complete. These are the different statuses: 

• Paid Out: We have paid out this invoice to the contractor. We have no control over when exactly the money enters their account as this depends on their bank's processing timelines.
• Paid Outside Remote: The client has indicated that they have already paid this invoice outside of Remote.
• Awaiting Payment: An outstanding payment has been created and is awaiting company payment before the payout begins⁠
• Funds Returned: A payout was attempted but the funds were rejected by the contractor's bank
• Declined: The client has rejected the invoice.
• Awaiting Approval: This status shows that we're awaiting the invoice approval by the Customer. 
• Payment Due: The contractor has submitted an invoice. This status shows that Remote has not yet received payment from the client for the contractor’s invoice and the client has neither approved nor rejected the invoice.
• Payment processing: We are awaiting payment from the client for the contractor's invoice. This status indicates that we haven't yet received the funds from the client. Once we do, we will provide an expected payout date.