If I cancel an order number by selecting "Cancelled" in both the Order status and Billing status on the order pages, then our store no longer charges the credit card. Is that correct?
Changing an order's billing status to canceled has no effect on associated credit card transactions. To void a credit card transaction, click on credit card terminal at the bottom of the order detail screen and click void.
Please note that Credit Card authorizations typically last up to 5 days before they expire. After 5 days, it is unnecessary to void the transaction.