Invoices are essential elements of a business; they are designed particularly to show the number of goods sold or services provided against their corresponding monetary value. Companies and individual contractors often use the invoice to request payments for products and services provided to customers. You are probably busy invoicing customers as a small business owner, and doing all you can to satisfy them. In no time, you'd discover you have a lot to manage from services to customer orders and back to filling invoice documents.
That's why you need an electronic invoice template that you can edit and send to clients in no time. First, you'd discover that it is easy and it also saves you time to attend to other business demands. Besides, you'd skip the whole process of filling a paper and then piling up a bunch of documents in your office for record purposes.
Creating an electronic invoice template is easier than ever. With the help of different office solutions and tools like MS Word, Excel, Google Docs, among others, you'd get a good template within minutes. These applications are simple to use, and they are flexible for creating and designing personal invoices in different formats. Another advantage of creating your electronic invoice with these office solutions is that they are cost-effective. You don’t have recurring fees once you pay for the application during purchase.
There’s another great option to explore; it is possible to get an electronic invoice template by downloading a ready template online. If you choose to craft your invoice or download am electronic invoice template, see the following section on how to both craft or edit the document to fit your use.
Creating an electronic invoice template
Invoices may include different information depending on the type of service it is covering. Notably, an invoice should include items and until cost information, taxes, shipping fees if applicable, among others. See the sections below for details.
1. Business name in your electronic invoice sample
Your electronic invoice template becomes an isn’t official without your business name, and it is not identifiable without it. Your business name tells the customer that you are an established brand they can trust. Also, include your phone number, mailing address, and contact address along with any other information with which clients may contact you.
2. Customer information in your electronic invoice sample
Next is the information of the client or customer that will receive your invoice. Create a field in your electronic invoice template for customer name, email address, phone contact, and website.
3. Invoice number & date in the electronic invoice template
Choose a preferred invoicing number for your document. It makes tracking easy and keeping a record for tax purposes. You should choose a sequential invoice number for every template you send.
4. Goods and service details in the electronic invoice template
Create a field to list the goods and services for which you are creating the invoice. Specify the quantity, the rate, and amount for each item/service you’ve provided. The more details you provide, the better it is for clients to know they are paying for only the goods/service they received.
5. Payment terms & date in the electronic invoice template
Payment terms may depend on the industry practices and sometimes your relationship with the client. "Net 30", which means the invoice is due in 30 days is a common payment term adopted by many individual contractors. If you choose that in your electronic invoice template, note that some companies may exceed that so you may account for that little difference. Including a due date on the invoice is a tactful and professional way of letting clients know when they should pay you.
6. Tax & discounts in the electronic invoice template
Tax requirements may vary depending on the type of business you run and its jurisdiction. You may refer to your local tax bureau to know the rate to include as tax in your invoice. Include the rate you give if you offer discounts for early payment.