Printable invoice templates are a great business tool that can help to streamline accounting and encourage customer retention. Here’s how to use them.
Every business will have to issue an invoice at some stage or another. It’s an integral element of the sales process and it legitimises the transaction between the seller and the buyer. But as many small businesses know, invoicing is often a time-consuming challenge that gets left until the last minute.
If this is the case for your business, you need to join the growing number of ventures using printable invoice templates to streamline their billing and make a more polished, professional impression.
In this guide, we’ll share how you can transform your billing and master the art of invoicing using templates.
What Is A Printable Template?
First things first. Printable invoice templates are exactly what they sound like. They’re templates that you can customise to suit your billing requirements, save, and then print.
These templates include a variety of fields that you can update with relevant information about your business and the goods/services sold:
● Invoice number
● Invoice date
● Business name and contact information
● Customer name and contact information
● Description of the products or services sold
● Prices of each item
● Total amount owed
● Payment terms
● Billing rate
● Taxes and discounts
● Due date
Using a Free Invoice Template Online
Anyone can access free invoice templates online and you can create an invoice in a format that suits your company’s requirements with a few clicks. You’ll find different style templates to suit various businesses, and it’s up to you to select the option that works best with your brand.
As your business grows, you can also adjust your template to suit your evolving needs. Additionally, you can create a single, onetime invoice or send recurring invoices, and can save the templates as needed.
The following templates are some of the most popular options online:
● Google Docs
Download any of the free invoice templates from Google Docs
● Microsoft Word
A variety of free invoice templates are available for Microsoft Word. Download and customise them to your needs.
● Google Sheets
Invoice templates can be customised using spreadsheet software. Google Sheets features an assortment of free invoice templates.
● Microsoft Excel
Microsoft offers free invoice templates for use with Excel. Instead of customising a Word processing document, users edit the invoice details using the company’s spreadsheet software.
● Online Invoice Generator
Many online invoice generator tools are available for users who want to create an invoice. Typically, no download is needed, and the customised document can be printed or emailed straight from the source.
How To Create An Invoice Using A Template
Once you’ve decided on an invoice template, you can customise it using the following tips:
● Keep your invoice simple and easy to understand. Use clear language and simple terms to ensure customers know exactly what they’re paying for.
● Clarify your payment terms. If you expect to get paid in 30 days, you should specify that on your invoice. Describe other payment details, such as whether partial payments are allowed and whether you accept credit cards. Also be sure to include any discounts on your invoice.
● Invoice promptly. The quicker you send your invoice to your customer, the quicker you will get paid. It’s also professional to send invoices promptly as delays in administrative tasks create a poor impression.
● Accept multiple payment methods. Not every customer wants to pay using the same method. Include options like cash, cheque, credit or debit card, PayPal and other electronic options. This will make it easier for customers to pay promptly.
● Add your branding. Your invoice is an extension of your business, so make it appear as such. Use your branding, add your logo, and say thank you at the bottom of the page. Essentially, an invoice is also a marketing tool, so make it count!
Reasons To Use Free Printable Invoice Templates
A printable invoice template offers your business many benefits, such as:
Helps You To Get Paid Faster
If you use a template, you’re less likely to leave out information or make an error. This ensures that customers don’t have to return your invoice or ask questions. They can make payment promptly without any comeback, and you can get your money sooner rather than later.
Leaves A Lasting Impression On Your Customers
An invoice reflects your business’ image and the pride you take in your work. If your invoice is neat, easy to read, includes all the relevant information and features your branding, you’ll leave a lasting impression.
You’ll also create a sense of consistency that encourages customers to trust you. They’ll immediately recognise your invoice and your branding, and know exactly what the document is. Plus, it will remind them of you, and this may encourage them to purchase from you again.
Frees Up Time To Do Important Work
A template saves time, and time equals money! If you simply need to populate a pre-built template with billing data, you’ll save a considerable amount of time that can be better used for other business activities. If you were to create a new invoice for every customer and every billing cycle, you’d end up spending hours of time on unnecessary admin.
Streamlines Accounting Processes
Using a template for your invoices helps to create a standard system that you can integrate into your business’s accounting process. If your invoices are correctly numbered and easy to track, you can keep your books up to date and always know who has settled their bill or still owes you money. This can help you to maintain your cash flow and keep your business healthy.
Helps To Track Outstanding Payments
When you’re running a business, the last thing you want to do is spend hours chasing up unpaid invoices. And this can take even longer if you don’t have a system. When you use templates, your system should be easy to follow and you can see which invoices are outstanding at a quick glance.
Transform Your Business With Templates
You don’t need to splash out a fortune on accounting software, especially if you’re a small or new business that’s operating on a shoestring. A printable invoice template provides the perfect starting point for your billing system, and you can brand it and customise it to make it your own.
With a little bit of initial time and effort, you can create an invoice that reflects your business and your brand, looks professional, and encourages prompt payment. After that, all you need to do is fill in the line items and totals every time you need to send out a bill, and you’re good to go.
Written by: Eleanor Rodgers