A booking is a single order placed for an event - by a customer online, or by you. Each booking has a status that tells you where its payment stands.
Paid: payment completed.
Unpaid: awaiting payment (e.g. a payment link was sent).
Free: a no-cost booking.
Refunded / Partially refunded: money returned in full or in part.
Pending refund: a refund is being processed.
Cancelled: the booking was cancelled.
Booking statuses show in-line on your bookings list:

