Related Questions:
If an Event cancels, is it best to mark as lost or should it just be moved to archived?
If a Booking hasn't gone ahead, should I cancel it?
Do we need to mark a Booking as lost?
Should I delete a payment on a canceled Booking?
Answer:
You should change the Booking status to lost if it is not going ahead. You'll have the additional option to archive it too!
This way you can report on these Bookings at a later stage, and you'll also be able to see at a glance they aren't a Booking that went ahead.
You can also update the Pipeline Stage if needed. Pipeline Stages are based on your individual organization, so please reach out to your system admin if you're unsure of this step.
If a payment has been made on the booking, you may need to refund it if you are giving the guest their money back. If you are keeping the payment, then it should be left as it is so you have a record of it on the Booking. Your organization may have its own way of dealing with this, such as charging a cancellation fee. If you're unsure you should confirm with your manager or finance team.