What happens when you mark an invoice as 'Paid Externally' in Pencil?

Scenario: A customer paid an invoice via bank transfer over the weekend. The invoice is also due to be debited today. The invoice has been marked as 'Paid Externally' in Pencil. Will it be enough to stop it from Debiting?

In this case scenario, since the Invoice has already been marked as 'Paid Externally' in Pencil, PencilPay will no longer process the payment for this invoice.