When you’re freelancing, managing your business finances can be a job in itself unless you take action to simplify matters. Thankfully, if you have Microsoft Excel, you don’t need to spend much time or money to take control of matters. With a simple invoice template, Excel can do everything you need.
In this article, we'll show you how to create a simple invoice template in Excel so that you can bill your clients with ease.
Self-employed people, like freelance writers or marketing consultants, send invoices to their clients to notify them when payment is due. A typical invoice will comprise details about the services provided, the agreed costs, and the payment due date.
There are several benefits of making a simple invoice template in Excel, such as:
When you work as a freelancer, a simple invoice template in Excel is much cheaper than a premium product like Xero, and the ability to use formulae gives Excel an edge on Microsoft Word.
Let's dive into the 7 steps you can follow to create a simple invoice template in Excel. So, it’s time we showed you how to make Excel work for you. Follow the seven steps below to create a simple invoice template in Excel:
Open Microsoft Excel, then make sure you are connected to the internet. Perform a search for “invoices” using the search bar at the top. Look through the invoice templates to find one closely aligned with your brand and style.
After picking a template, customize your invoice by adding your business name and contact information. Another good idea is to include your business logo, which adds some creative or visual flair to your invoices.
On each invoice, you must include the client's name, their business, and contact details. You can save some time with future invoices by saving multiple templates -- one with the details of each freelance client.
Remember to include a unique invoice number every time. Doing this will keep your financial records organized. Furthermore, you should also include the invoice date and the date that payment is due.
Next is arguably the most critical part of your simple invoice template in Excel! Include a breakdown of all the services you provided, with the details of each, and the price. Calculate the total cost for the invoice, and make sure it is clearly stated at the bottom.
Some freelance clients pay more often than others. Some pay via wire transfer, others prefer PayPal. Include your payment terms on the invoice to remind clients how you prefer to be paid.
After confirming all the details are correct, save the invoice as a .xlxs format document, which enables you to edit later if required. You can convert the Excel invoice to a PDF, and send it to your client via email or direct mail.
At some stage in their career, almost every freelancer will struggle to get paid on time. Rather than wasting time chasing clients for payment, you can put your best foot forward with professional invoices that command respect. Use Excel to make invoicing quick and easy, so you’ll always have a clear overview of your business finances.