Conversions recorded in your dashboard are sent to advertisers at every beginning of the month. The advertisers will then begin the process of validating those conversions to ensure that they are not fraudulent, or if the sale has been cancelled by the consumer.
Upon the advertiser finishing the validation process and informing InvolveAsia about it, the status of your conversions will be approved. However, payment to your account will not be in until the advertiser has made successful payment to InvolveAsia.
Find out the difference between billing report and payment history here [link]