Every business needs an invoice. In this fast-paced world, digital invoices ensure faster payments, reduce errors, and improve efficiency. They have become a vital part of running any business.
Excel is a powerful tool used by millions of corporate people to manage daily tasks, stay on top of expenses, create business plans, and more.
In this article, we will explore the top 10 free Excel invoice template for 2024 and provide a step-by-step guide on how to create your invoice template in Excel. So make sure to read the article to the end.
Benefits of Invoice Templates created using Excel
Excel is an easy-to-use spreadsheet application boasting hundreds of built-in functions and tools. It allows users to organize and analyze datasets in tabular form.
Every business, regardless of its size, relies on spreadsheet software such as Excel to manage various day-to-day activities.
Here are a few benefits of using an Excel invoice template:
- Ease of Use: Excel is a beginner-friendly application. You can quickly learn to add and edit information within a few couple of minutes. From text to charts and images, one can add anything to make their invoice template attractive.
- Cost-effective: In contrast to dedicated CRM or invoice generator software, Excel is both cost-effective and easy to use. Nowadays, every Windows laptop comes with Excel pre-installed.
- Extensive Customization: In templates created using Excel, everything is a breeze, from editing existing information to adding logos and other business details. Additionally, Excel boasts powerful customization tools like Conditional Formatting.
- Automated Calculations: Excel has 400+ built-in formulas, the highest number in the category. These can be leveraged to automate various calculations and reduce errors while finding total amounts, taxes, and more.
- Accessibility: Excel is compatible with all types of devices, including mobile, tablet, and desktop. You can access and edit your Excel invoice on the go.
These are just a few of the benefits that make Excel the best tool for managing invoices. You can summarize invoice data and prepare comprehensive reports using built-in charts and graphs.
Overall, Excel is worth giving a try, if you are looking for a tool to generate invoices like a pro.
Top 10 Excel Invoice Templates [FREE Download]
There are many Excel invoice templates available on the internet.
However, it is important to select an invoice template with a professional design and predefined formulas to automate various calculations.
We have made your job easier by compiling a list of top Excel invoice templates.
1. Freelance Invoice Template by SoftwareAccountant
Click Here To Use This Template!
Have a look at one of the best professional-looking invoice templates on the list. It is easy to interpret and comes with clear instructions.
You can download the template for free and customize it as per your requirements. Start by entering the invoice due date at the top of the template. Next, add the client details on the left side and your contact information on the right side.
There is a table to enter the tasks or clients you handled. Here, you can enter a description, total working hours, and rate as discussed with the client.
This template uses built-in formulas to calculate the total amount automatically. The total billed amount at the end of the table is also auto-calculated. Please make sure to avoid editing the cells that contain formulas; otherwise, the template won’t work as expected.
2. Billing Invoice Template by Vertex42
Click Here To Use This Template!
This billing invoice template by Vertex42 comes with a minimal design. But do not skip and move to the next template because it includes all the essential formulas to automate various calculations.
You can add your company’s name and logo at the top of the template to make it look more personal. Then, make sure to specify the client’s and the service provider’s billing addresses along with their contact information (like address, phone number, email, etc.).
Similar to our top pick by SoftwareAccountant, you will find a huge table where you can enter the task or client details. You can specify the services offered and the amount that needs to be paid.
If you happen to reside in a state that charges sales tax or gross receipt tax for services, you can use the InvoicewithTax sheet.
3. Commercial Invoice Template by Template.net
Click Here To Use This Template!
Are you a manufacturer looking for an invoice template?
This template serves as a critical document between you and buyers interested in your products. It includes sections for entering customer details, invoice numbers, and dates.
A massive table in the middle allows you to enter the product details such as the description, unit price, and quantity.
Note that the template automatically calculates the subtotal and the amount that needs to be paid after adding the taxes. You can easily customize the template to accommodate more products, but make sure not to edit the cells holding the formulas.
4. Sales Invoice Template by Smartsheet
Click Here To Use This Template!
Are you an e-commerce business owner?
If so, download this sales invoice template from Smartsheet to provide customers with a formal record of transactions. It includes separate sections to fill in billing and shipping details.
Not only consumers, this template can be used to issue invoices to businesses purchasing products in bulk quantity. It is one of the best templates for B2B invoicing.
It allows you to track orders by including salesperson and shipping details.
So what are you waiting for? Use the above link to download this template for free. Remember to add the company name and logo at the top before sharing your invoice with others.
5. Car Rental Invoice Template by Template.net
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This invoice template is designed for car companies.
It lets them create a clear and professional billing document. Separate sections mention the company and customer details, and you can specify addresses, phone numbers, and emails.
Include important details like the quotation number, date, and the amount paid in advance for future reference. Use the table at the end to specify a breakdown of the charges for items like fuel and maintenance. Note that the template automatically calculates the total charges using the built-in formulas.
6. Job Invoice Template by Smartsheet
Click Here To Use This Template!
A Job invoice template is used to give clients an estimate of the cost of a project, including parts, labor, and other expenses.
This template is an essential tool for contractors and service providers. It gives their clients a clear idea of the project’s potential scope and costs.
It allows users to include the billing and shipping address like a standard invoice template. However, you will notice many separate tables to enter the material, along with the quantity and rate to track the expenses.
Similar to the others on this list, this template also automatically calculates the totals using Excel’s built-in functions.
7. Contract Labor Invoice Template by Waveapps
Click Here To Use This Template!
A Contract labor invoice template helps businessmen hire and pay contractors, consultants, and freelancers. It can be used as a formal document detailing the agreed-upon terms, services offered, hours worked, and the total amount owed.
It ensures both parties maintain a clear record of the transaction, helping avoid payment delays and maintaining smooth cash flow.
This template is easily customizable. At the top, input your company details, followed by invoice and client information.
Download this template and keep your transactions organized like never before
8. Commercial Shipping Invoice Template by Template.net
Click Here To Use This Template!
This template’s eye-catching design will surely impress your clients or customers. It is one of the best professional-looking invoice templates of 2024.
It can be used by businesses selling goods or services. The template is easy to use and comes with predefined formulas for automated calculations. For example, the totals, subtotals, and post-tax costs are automatically calculated based on your input.
Make sure you enter the complete date in the correct format. The template includes separate sections for adding the company name, logo, and address.
This template contains a lot of example information. Ensure that you remove it once you understand the purpose of each section.
9. Advertising Agency Invoice Template by Template.net
Click Here To Use This Template!
This minimal yet beautiful-looking invoice template is ideal for businesses providing services like advertising or branding.
This template consists of two sheets:
- Invoice: In the header, you can enter the company name, invoice number, date, and total due. The table below breaks down the services provided, with columns for quantity, unit price, and total price, ensuring clarity for both the business and the customer.
- Set up: It allows you to set up the recipient’s details (such as name, email, and phone number), choose the payment method, and input tax/VAT percentages. These fields are automatically synced with the main sheet named “Invoice.”
10. Pro Forma Invoice Template by Vertex42
Click Here To Use This Template!
A Pro Forma invoice is a sales bill sent to customers before goods or services are delivered.
This template by Vertex42 features sections to accommodate details such as a part number, description, quantity, unit price, and total cost, providing an estimate of the final transaction.
In addition to separate sections for customer and shipping details, you will find a table specifying freight type, estimated shipping dates, and weights.
The template is empowered with many built-in functions. It allows easy tax calculations.
How to create an Invoice Template using Excel
Invoice templates are a need of every business.
As each business is unique in its particular category, we understand that invoice format and details included may vary by company.
We tried our best to create the best ready-to-use invoice templates. But if you are not satisfied or impressed by them, let us discuss creating one from scratch within a few minutes.
The following section includes a step-by-step guide to creating a fully automated invoice from scratch. Refer to the following snapshot of the invoice template we are about to create.
Make sure to follow me along, and feel free to adjust the steps to meet your requirements. You can add more rows and additional sections by following the same steps discussed below.
STEP #1 – Creating the Header
A Header is a crucial part of any template. It contains the document title along with the provision to mention your company name and logo.
Such details play a critical role in sharing the document with others.
Let’s begin,
- Open a new Excel sheet
- Select the entire first row
- Increase the height of the row
- Select the cells “A1” to “F1”
- Hover to the main menu and go to the “Home” tab
- Click on “Merge & Center” in the “Alignment” group
- Start typing “Invoice Template“
- Increase the size of the font to 23
- Make the font bold
- Adjust the font alignment to the middle
- Change the cell background color to dark blue (Hex Code – #001149)
- Change the font color to white
With the above steps, the header should look as follows.
STEP #2 – Add the Invoice Details
In this step, we will create a small table to enter the basic invoice details, such as,
- Invoice number
- Due date
- Date when the invoice is created
Let’s start,
- Double-click on the cell “D4”
- Type “Invoice Number :“
- Next, in the cell “D5” type “Invoice date :“
- Finally, select the cell “D6” and type “Due date :“
Make sure to increase the width of column D to accommodate the details clearly. Refer to the following image.
STEP #3 – Add the ‘From’ and ‘To’ Address Fields
An ideal invoice template contains the addresses of the customer and the service provider.
The “From” address includes the details of the organization or individual issuing the invoice, and the “To” address contains the customer details to whom it is being sent.
Here are the steps,
- Select cell “A9” and start typing “FROM :“
- In the cell “A10” type “[Your Company Name]”
- Double-click on the cell “A11” and type “[Your Company Address]”
- In the cell “A12” type “[Your Contact Information]”
The table should look as follows,
Repeat the same process to create the second table, which includes the receiver’s address, as shown in the following image.
STEP #4 – Create the main table to record the Item details
This is a crucial step, as we will be creating the main table to record the item or service details.
Each item or service will have its description, unit price, quantity, and total price.
Let’s start,
- Select the cell “A15” and type “Sr. No.“
- Select the cells “B15” and “C15”
- Hover to the main menu and go to the “Home” tab
- Click on “Merge & Center” in the “Alignment” group
- Type in “Item Description“
- Next, click on the cell “D15” and type “Quantity“
- Similarly, follow the last 6 steps and complete the table header as shown below,
- Make the font bold
- Select the cells from “A15” to “F15”
- Adjust the font alignment to the middle
- Change the cell background color to dark blue (Hex Code – #001149)
- Change the font color to white
Now, the template looks like this,
STEP #5 – Format the Unit Price and Total Amount fields to Currency
As seen in the image at the beginning of this section, the unit price and the total amount fields should be in Currency format.
Here’s how to change the format from General to Currency:
- Select the cells “E16” to “E22”
- Hover to the main menu and go to the “Home” tab
- Click on the dropdown displaying “General” in the “Number” group
- In the dropdown menu, select “Currency”
This will ensure that the value you enter in the cells E16 to E22 will be taken as currency.
Use similar steps to format the next column, including the total amount.
STEP #6 – Calculate the Total Price Per Item
Let us enter the sample data, which will help us validate our formulas to auto-populate the total amount, as shown below,
Here, we will calculate the total payment per item using the basic multiplication rule in Excel.
The formula is:
=D16*E16You can copy and paste the above formula in cell F16 to find the total payment for the first item. Then, by dragging the fill handle to the end of the table, apply the same formula to the remaining cells.
Our table is ready, and it should look as follows.
STEP #7 – Calculate Total Billing Price
To find the total billing price, we need to determine the subtotal first. If there are any taxes, they also need to be included in the formula.
We will use the SUM function in Excel to find the total billing price and the subtotal.
Let’s begin,
- Click on the cell “E21”
- Start typing “SUBTOTAL:”
- Make the font bold
- Next, click on the cell “F21“
- Type “=sum”
- Choose the first option from the popup or press “Tab” on your keyboard
- Provide the cell reference as “F16:F20“
- Complete the bracket using “)“
- Press the “Enter” key
Our final formula will be,
=SUM(F16:F20)STEP #8 – Calculate Taxes
In this step, we will add the taxes to our subtotal, which was derived using the last step.
Let’s begin,
- Select the cell “E22”
- Type “Tax Rate“
- Now, click on the cell “F22”
- Enter the value “12%” as an example value
(You can change this later as per your country’s taxation rules) - Hover to the Main menu and go to the “Home” tab
- Click on the dropdown showing “General” in the “Number” group
- Next, select “Percent” from the dropdown menu
Now, let us find the Total Billing Price by adding taxes to the subtotal we obtained in the previous step.
Let’s begin,
- Select the cell “E23”
- Type in “TOTAL AMOUNT :“
- Make the font bold
- Next, select the cell “F23“
- Put the “=” symbol to enter the formula in the cell
- Type “F21*F22“
- Press “Enter” on your keyboard
The final formula to calculate the total amount is as follows,
=F21*F22STEP #9 – Add Terms and Conditions, Payment Instructions, and Thank You Note
In this step, we will add the terms and conditions declaration and a small thank you note along with other necessary fields as per your requirements to make the template look more professional.
Let’s begin,
- Select the cell “A26”
- Enter “Terms & Conditions”
- In cell “A27”, type “Payment is due within 30 days of the invoice date”
- Complete the table as shown below,
Now, we will add the payment or the bank details in cells D26 to D29, as shown in the image below,
Now, it is time to add the thank you note at the end.
- Select the cells “B33” to “E35”
- Hover to the main menu and go to the “Home” tab
- Click on the “Merge & Center” in the “Alignment” group
- Start typing, “Thank you for your prompt payment. If you have any questions regarding this invoice or need further assistance, please don’t hesitate to contact us.“
- Next, go to the main menu again and click on the “Wrap Text” in the “Alignment” group
- Adjust the font alignment to the middle
- Now, select the cells from “A33” to “F35”
- Change the cell background color to dark blue (Hex Code – #001149)
- Change the text color to white
Here’s how the template looks after following the above steps.
STEP #10 – Formatting the Template
To make our template look more attractive, we need to use Excel’s built-in formatting tools.
You can change the size of the columns and rows, increase the font sizes to highlight the header, adjust the cell and font colors, etc.
With our experience and knowledge of Excel, we have come up with the following template,
Use the following link if you wish to download the template we created.
For more fantastic templates, make sure to refer to our blog section. It includes hundreds of Microsoft Excel and Google Sheets templates to make your life easier and increase revenue like never before.