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Invoice Templates are important documents that we use to track our expenses, income and help us monitor the progress of any business. It’s essential for every business owner or employee to have one in order for them to function properly with any company.
The “Excel invoice template free download” is a free invoices that can be used for Excel, PDF, and Word. The document is available in both the Microsoft Office format (.docx) and the OpenOffice format (.odt).
After goods or services have been delivered but before payment has been made, a customer’s bill for a sale is called an invoice. Accounting software is the most efficient method to prepare and distribute invoices, but it comes with a monthly expense. We provide a free, printable invoice template in Excel, PDF, and Word to assist you.
You may use an invoicing software like QuickBooks Online to produce and send invoices and be paid on time if you create more than 10 invoices each month. Prices start at $20 a month, and there’s even a 30-day free trial, so there’s no risk.
Go to the QuickBooks Online website.
Download a Free Invoice Template
You may not have enough customer transactions to justify QuickBooks or a QuickBooks alternative like Xero if you produce fewer than 10 client invoices each month. A personalized invoice template, on the other hand, could be the ideal option. Many templates are accessible, and they are usually in the form of a free invoice template in Excel, Word, or PDF format.
Below are links to our free Excel, PDF, and Word invoice templates:
Excel Version of Free Invoice Template
The free Excel invoice template is available to download. This free Excel invoice template has all of the necessary information for an invoice. It also features fields that compute discounts, sales tax, and subtotals automatically. Another benefit of utilizing an Excel template is that you can keep all of a customer’s invoices in one worksheet. This will make it simple to find an invoice when you need one.
Invoice Template for Free: PDF Version
Download the invoice template in PDF format for free. Discounts, sales taxes, and subtotals will be calculated automatically, just as in Excel. Another benefit of utilizing a PDF template is that it has clickable areas where you can add all of the information you need. Because you can’t move or edit the fields, it’s tidy and simple to manage.
Word Version of the Free Invoice Template
The free Word invoice template is available to download. The fields will not automatically compute sales tax, discount, or subtotals, unlike the Excel and PDF templates. As a result, double-check your figures before sending it to your client. In comparison to free Excel or PDF invoice templates, a Word template is more customisable. It is, however, more prone to mistakes as a result of this. After you’ve downloaded the template, you’ll need to learn how to fill out each field, which we’ll go over next.
What Does the Free Invoice Template Include?
Our free invoice templates include spaces where you can put your business logo, the customer’s bill to and ship to information, payment conditions, and due date fields, among other things. These fields will determine the total amount payable, as well as any relevant discounts and sales tax, automatically.
A finished free invoice template is shown below, along with short instructions for each area. Look at each of the numbers on the picture and then read the explanation that goes with it. This should help you better comprehend the invoice template and tailor it to your specific requirements.
Free Invoice Template Example
Each field in the (above) invoice template is described briefly below:
- In this section, you may upload your company’s logo. If you don’t have a logo for your company, read our article on business logo design to discover how to make one.
- Fill up this area with the name of your company. Read our definitive guide to business names for some advice on how to name a company.
- The invoice date is the date on which you create and deliver your invoice to your client.
- The invoice number is a one-of-a-kind number that you assign manually or that your accounting software generates automatically for each invoice. This reference number will assist you in applying payments to the correct bills. It also makes it easier to deal with consumer billing issues since you can pull up their invoice fast.
- Bill To: Fill up this area with the customer’s billing address.
- If you’re sending merchandise to a customer, fill in this form with the client’s shipping address; otherwise, leave it blank.
- Indicate how the goods was transported if you’re sending items (e.g., UPS, FedEx, or USPS).
- If you’re transporting things, you’ll need to provide FOB Shipping Point or FOB Destination, depending on your arrangement with your client. Read our essay on the importance of fob shipping point and fob destination to learn more.
- In this section, provide the projected date for the goods to arrive at the customer’s location.
- Payment Terms: The amount of time you allow your consumer to pay you is referred to as payment terms. Read our post on the ideal invoice terms for your company for a few minutes. If your client does not pay the invoice on time, you might charge them a late fee.
- The due date is the day on which the client must pay. You could try giving early payment incentives to be paid sooner.
- Purchase Order Number: Before acquiring goods or services, certain businesses must get permission. If you operate with schools or government agencies, you’ll usually have to have them fill out a purchase order before they can make an order. You must include the purchase order number on the invoice to avoid payment delays.
- Amount: If you’re charging by the hour, enter the number of hours or the quantity of goods sold for each item.
- Item Number: Fill in this area if your goods have unique item numbers. Otherwise, you may leave this box blank if the things you offer don’t have item numbers or if you provide services.
- In this area, provide a description of the items and/or services for which you’re making a bill. Here, be as specific as possible so the consumer understands precisely what you’re invoicing them for (e.g., stainless steel faucets).
- In this section, enter the cost per unit of the product or service sold.
- To calculate the line total, the Excel invoice template will automatically multiply the quantity column by the unit price column. If you use the Word or PDF templates, you will have to manually compute this sum.
- Discount (if applicable): You may add a percentage discount to the Excel invoice template if you wish to. The discount will be automatically calculated and deducted from the total amount owed using the formula (shown below). You may also make it a one-time payment. You’ll have to manually compute discounts and add them into the template for PDF and Word.
Screenshot of the Excel Template’s Discount field
- Before reductions and sales tax are applied, the subtotal is the entire amount owed.
- Enter the sales tax rate (without the percent) that you charge, and the Excel template will compute the sales tax amount before the discount (if any) is applied. As shown below, the sales tax amount will be applied to the total amount due:
A screenshot of the Sales Tax column in the Excel Template
- Total Amount Payable: To determine the total amount due, add the totals of each line item, sales tax, and discounts. The free invoice template Excel will compute the entire amount due for you automatically, however the Word and PDF forms will need you to do it manually.
- Late Fees & Penalties: If you wish to charge late fees or penalties, place them underneath the goods and services items and enter either a fixed sum or a percentage of the total amount owed. (For example, 1%).
- Information about your company: Customers will be aware of the payment methods you offer if you provide your postal address at the bottom of the invoice. You might, for example, allow users to pay with a credit card online or over the phone. Read our post on how to take credit card payments for more information.
In this free invoice template, you’ll find contact information for your business as well as payment instructions.
If clients have questions, you should include your contact information, as seen in the screenshot below:
Free Invoice Templates vs. Accounting Software
Using accounting software against free invoice templates has various advantages.
To begin, accounting software will do all of the calculations for you, eliminating the need for manual calculations or formulae, as is the case with invoice templates. Second, accounting software makes it simple to produce invoices fast since you can choose the product or service you’re invoicing for from a drop-down menu, while with a free invoice template, you’ll have to manually put this information in each time.
Using accounting software and invoice templates has both advantages and disadvantages. Accounting software makes it easier to prepare and distribute invoices, but it might be more expensive. Invoice templates are free, and if you know how to use Word, Excel, or PDF, you may produce one right away without having to learn how to use the program.
The Benefits and Drawbacks of Using Accounting Software to Create Invoices
There are advantages and disadvantages to utilizing accounting software to create invoices. Most applications enable you to add your company’s logo and trademark colors to invoices. Plus, since the computer makes the numbers for you, you never have to worry about whether they are right. Unlike free invoice templates, most accounting software applications need a price, and invoice templates are more prone to mistakes.
The following are the benefits and drawbacks of utilizing accounting software to produce invoices:
Advantages of Creating Invoice Templates with Accounting Software
The following are some of the advantages of utilizing accounting software to create invoices:
- Preset invoice templates: Preset invoice templates are available in all accounting software applications.
- Ability to modify invoice templates: Some accounting applications, such as QuickBooks Online, allow you to adjust the appearance and feel of invoices, including column headers and placement, as well as the location of your business logo on the invoice.
- Software generates invoice totals for you: All accounting software applications compute invoice totals for you automatically.
- Create reports: Get up-to-date reports with precise information on client sales, costs, and the general health of your company.
- A/R balances that are up to date: When a client pays you, you can simply mark the invoice as paid, which changes your accounts receivable balances immediately.
Cons of Creating Invoice Templates with Accounting Software
The disadvantages of utilizing accounting software to create invoices are as follows:
- Fewer Templates: When compared to Excel, Word, or PDF, you have fewer template options.
- Unless you choose a free accounting software solution like Wave, most accounting software comes with a one-time or monthly cost to utilize it.
The Benefits and Drawbacks of Using Excel to Create Invoices
If you generate less than 10 client invoices per month and don’t have a lot of costs to manage, Excel is a suitable option if you don’t want to utilize accounting software. On the plus side, Excel offers a larger library of templates than accounting software. You must, however, produce invoices manually in Excel, which is more prone to mistakes.
The advantages and disadvantages of using Excel to design invoice templates are as follows:
Advantages of Using Excel to Create Invoice Templates
The advantages of using Excel to create invoice templates are as follows:
- There are many more templates to pick from: From the Microsoft collection, you can choose from 200 customisable invoice templates.
- When compared to Word or PDF, create formulae so that specific columns, such as total amount, will automatically compute.
- Simple to organize: Make a separate Excel notebook for each client so you can keep track of all of their bills in one place. You can instantly access your customer’s file and seek up the information you need if they phone with a query.
Cons of Using Excel to Create Invoice Templates
The disadvantages of using Excel to create invoice templates are as follows:
- Manual configuration is required: Using an Excel template requires manual setup.
- Basic Excel knowledge: While you don’t need to be an Excel master, knowing the fundamentals of writing formulae, spreadsheets, and workbooks can assist.
- More prone to errors: If you make a mistake while writing the formula or manually input a number into the spreadsheet, it’s simple to create a mistake when it comes to computations.
The Benefits and Drawbacks of Using PDF to Create Invoices
There are advantages and disadvantages to making PDF invoices, just as there are to creating invoices using accounting software and Excel. On the plus side, utilizing Adobe Acrobat normally doesn’t come at a fee, and PDF templates tend to seem more professional than Excel and Word.
The advantages and disadvantages of utilizing PDF to produce invoice templates are as follows:
Advantages of Using PDF to Create Invoice Templates
The advantages of using PDF to create invoices are as follows:
- The program is free to use: To open PDF documents, you can usually download Adobe Acrobat for free.
- Customers can readily see invoices: Because most of your customers will have Adobe Acrobat installed, they will be able to examine the invoice after it has been sent to them.
- Create professional-looking invoices: When compared to a Word template, PDF templates (like the one we’ve supplied) may feature editable fields that can’t be altered but give you a more professional appearance.
Cons of Using PDF to Create Invoice Templates
The disadvantages of using PDF to create invoices are as follows:
- Manual setup: It is a manual procedure to set up, similar to Word and Excel.
- More prone to errors: When manually inputting data, it’s simple to make a mistake.
- It’s difficult to organize: Unlike Excel, you can’t create an invoicing workbook.
The Benefits and Drawbacks of Using Microsoft Word to Create Invoice Templates
While utilizing Microsoft Word to create invoices is not advised over accounting software like Excel, there are a few advantages to doing so. In comparison to accounting software, you will have access to over 200 templates. Plus, when it comes to altering the style and feel of Word templates, you have a lot more options.
The advantages and disadvantages of making invoices using Microsoft Word are as follows:
Advantages of Using Microsoft Word to Create Invoices
- Larger template library: You’ll get access to over 200 Microsoft templates, so you won’t have to start from zero.
- Make it unique to your company: Add your company’s logo and contact information to the templates.
- It’s easier to change the appearance and feel of the template: To personalize it for your company requirements, you may add/remove columns of data.
Cons of Using Microsoft Word to Create Invoices
- Time-consuming setup: Creating Word templates, like Excel and PDF templates, is a laborious procedure.
- There is no option to apply formulae to compute discounts, sales tax, or subtotals, like there is in Excel. Discounts, sales tax, and subtotals may be manually added to invoices prepared using Microsoft Word.
- Electronic file organization is difficult: You can’t create a workbook for each client in Word as you can in Excel, so you’ll have to build a new filing system.
Free Invoice Templates: Frequently Asked Questions (FAQs)
The following are some of the most often asked questions concerning free invoice templates:
What is the best way to make a free invoice?
There’s no need to start from zero when creating a free invoice template. We give a free Excel, Word, or PDF invoice template in our free invoice template post. These templates are available for free download, and you may personalize them by adding your company’s logo, address, email, and website information.
Is there an invoice template in Word?
There are over 200 invoice templates in Microsoft Word to pick from. In reality, start with a Word template and add the fields that the majority of small company owners want. Download your free Word template and customize it to meet your specific company requirements.
What Is The Best Way To Write An Invoice To Get Paid?
In order to be paid, you must personalize an invoice with your company’s logo and contact information. In addition, a full description of the items and services offered should be included. Make sure to include any available discounts and sales tax estimates in your calculations. The seven stages to writing an invoice may be found in our Invoice guide.
Conclusion
It’s a good idea to utilize accounting software like QuickBooks Online to invoice your customers if at all feasible. If you don’t have access to an accounting software program right once, utilize a free Excel invoice template to avoid calculation mistakes and maintain all of your customers’ invoices in one file. Use a PDF or Word document if everything else fails.
Instead than using a free invoice template, if you produce more than 10 invoices each month, utilize accounting software like QuickBooks Online to invoice clients and be paid on time. QuickBooks also allows you to keep track of your costs and generate financial reports. The first 30 days are free, then pricing begins at $20 per month.
Go to the QuickBooks Online website.
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