How to Make an Invoice on Word? Major Advantages and Disadvantages

How to Make an Invoice from a Word Template? 5 Easy Steps

You may customize the Word invoice templates to meet your company’s demands and spare yourself the hassle of manually creating the format from scratch.

The detailed instructions for creating an invoice using a Word template are provided below:

1. Select an Invoice Template

Microsoft Word sends you to the word document gallery when you launch it. If Word opens a blank document instead, you may access the template gallery by choosing File in the top navigation bar, followed by New From Template.

2. Open the Word document gallery

Find the search box and put “invoice” into it now that you’re in the document gallery. Scroll through the options here to find a suitable template. Once you’ve chosen a template, click the Choose button in the bottom right corner of the page after pressing the template.

3. Personalize the Invoice Template

Choose the components you wish to include after selecting your favorite template. Make sure the template includes all of the vital details.

The key components of an invoice often consist of:

• The header with the phrase “Invoice”
• Name of the business and its details
• Contact details required
• Date of Billing and Payment Due
• Unique invoice number
• Summary and an itemized list of goods and services
• Totals for each good or service
• Terms of payment
• Taxes and promotions
• The invoice’s whole amount

4. Save your finalized invoice

Select File, Save As, and then your completed invoice to save it. It may be saved as a PDF file or an editable.docx file.

5. Send the invoice

Whether it’s through fax, email, or invoicing software, send the completed invoice through the most practical ways for your company.

How to Create an Invoice in Word?

Businesses may use these procedures to make an invoice in Word:

1. Select a New Blank Document Menu

Click File and then select New Document from the menu to create an invoice from scratch in Microsoft Word. Open Microsoft word a brand-new, empty document.

2. Make an Invoice Header for an Invoice

In the document, add an invoice header. Your business logo, contact information, and a clear statement that the document is an invoice are included on the header.

3. Include the Billing Date

Next, include the document’s invoice date. Directly beneath your invoice headline, provide the current date.

4. Add a Special Invoice Number

Add a distinct invoice number to the document’s top. When discussing an invoice with a client or filing them for your company’s records, invoice numbers are utilized as a point of reference.

5. Specify Your Client’s Contact Information

Include the important contact information for your client. Verify that the contact name mentioned on your invoice is the right one.

6. Make an Itemized List of Items

Make a service itemized list delivered. A concise description of each service, the number of hours performed or items delivered, and the fee should all be listed.

7. Show the Full Amount Owed

List any relevant taxes after totaling all fees. The invoice should then include the entire amount owed and clearly state this information at the bottom.

8. Add the Payment Deadline

Date the invoice with the payment due date. Add the billing date, the payment due date, and an individual invoice number to the right of the business information.

9. Add Your Payment Terms

At the very bottom of the paper, provide your payment terms. Include the ways of payment you accept and specify any late penalties you’ll apply to payments that are past due.

Creating an Invoice in Word: Advantages and Disadvantages

Advantages

Quickly get payments

Utilizing word invoice templates allows you to swiftly accept payments. Add all required information, like contact and payment information.

Cutting Costs

The advantage of employing a template is that it may assist in cutting costs for your company. You may save money by producing your sales invoices in Word instead of using more typical invoicing techniques like mailing and printing the invoice.

Documentation

You can add customer information and purchase data on a word invoice template may also save you time and errors. Utilizing a template also has the advantage of being simple to adapt to your business requirements.

Enhance Security

You may increase the security of your company by employing a template. This document can be password-protected, which will block unauthorized access.

Options for Customization

With a word invoice template, you can make many required edits. You may include a customized message, logo, contact information, etc.

Accessibility and Requires no Efforts

The fact that utilizing free word invoice templates is so accessible is perhaps its most evident advantage. With only Word software, you may open a template, make the required adjustments, and print or email it to your customer. The word invoice template requires little to no upkeep. You may use the time and energy saved to improve other parts of your business.

Options For Auditing And Tracking

Keeping tabs on your finances may be the most evident advantage of employing a free invoice template. You can also make sure that all of your create invoices that are correct and error-free by utilizing a template.

Maintaining Order and Compliance

Utilizing a template will also keep you organized. This is because all of your bills will be kept in one location, making it simple to locate them when you need them. You may be confident that your invoices will always comply with compliance rules if you utilize a template. This is because the template will come pre-formatted with all of the required data.

Disadvantages

Manual Process

You must submit your Word invoices manually because this procedure isn’t automated, whether you send them by email or via mail.

Different Payment Gateway Required

You cannot electronically make an invoice in Word and send them immediately. On the other hand, clients may choose their preferred credit card method and make their payments right away using online tools like Moon invoicing.

Time-Consuming

Data input into Word must be done manually, which takes more time and increases the likelihood of mistakes. The numerous manual processes require their own time, as well as time for processing and approvals.

Security and Privacy Concerns

There is a greater probability that someone may access your data if it is saved in the cloud or on your PC.

Tracking Problems

Word cannot be used to keep track of invoices. Excel or another program must be used for tracking purposes. As a result, efficiency is diminished and more time is required.

Payment Delayed

Payment is more difficult and inconvenient, whether customers mail you checks, enter their credit card information on a page on your website, or visit with cash.

Types of Word Invoice Templates

1. BLANK

Here are some of the available invoice templates you can use for your business:

Simple Word Invoice Template: This easy-to-use template makes it simple to bill customers and keep track of payments due. Include all necessary details, and send the form to consumers immediately, or print it out and mail a hard copy. You may add a business logo and customize the layout.

Blank Invoice Template: This blank template is very adaptable and can be used in a wide range of situations. List the items or services that were supplied, the price, etc so that you can keep track of all transactions in one spot.

Past Due Invoice Template: Use this past-due invoice template to remind customers of any outstanding payments. This extensive template lets you specify payment terms and offered services so that both you and your customers can quickly locate, pay for, and report on all invoice details.

Service Invoice Template: To charge for certain services you offer and keep track of costs in one location, use this general template. You may effectively charge your client or customer for any service with room to include the type of work accomplished, hourly rates, the amount owed, and client contact information, which will help keep your budget on track and reasonable.

2. BUSINESS

Here are some business-oriented invoice templates available in Word:

Freelance Writer Invoice Template: To charge for freelance services, additional costs, and payment conditions and agreements, use this freelance writer invoice template.

Web Design Invoice Template: To be paid for the time and effort you put into a website, use this template to charge for design services and other relevant design jobs. Include particular information in the template, including hours, rates, company data, and overall expenditures.

Graphic Design Invoice Template: It doesn’t matter if you are working as a freelance designer or running a good setup agency, we assist with all your needs. Graphic designers can opt for a logo design invoice template to streamline your charges for your labor.

Sales Invoice Tracking Template: To compare bills over time, you may also keep track of previous costs and compare them to recent ones.

Commercial Invoice Template: Use this template to record and keep track of all commercial items and their associated information, such as item evaluations, package counts, enclosed goods types, and classifications.

International Commercial Invoice Template: Use this international business invoice template to track and handle all payments, expenses, item evaluations, and more when dealing with products or shipments outside of the United States.

Consulting Invoice Template: With the help of this thorough consulting invoice template, you can keep track of hourly rates, indicate additional costs, and include equipment or setup fees.

Pro Forma Invoice Template: List all of your expenses and purchases, but give yourself room to add extra charges like taxes and shipping fees until the deal is closed.

Rental Invoice Template: With the help of this rental invoice template, you can precisely bill tenants following their lease terms and record monthly rental prices.

Electrical Invoice Template: Use this comprehensive electrical invoice template to specify the location, property, and owner information, as well as the summary of the total work performed.

Creating an Invoice with Moon Invoicing Software

Your company must have an automated system for managing invoices so that the entire billing process is streamlined and error-free.

The Moon Invoice program may be used to make tailored and expert invoices. Customized invoices contribute to brand value development. It makes it easier to expedite both invoices and payments that are overdue. If you’re just getting started and looking for a straightforward free blank invoice template, you can relax knowing that Moon Invoice can help you locate the best option for your requirements.

Here’s the Invoice creation process on Moon Invoice software:

1. Login to Moon Invoice account
2. Select the sales module and click Invoices
3. Fill in the required fields
4. Add items or services rendered
5. Mention the terms and conditions, due date, and mention notes
6. Add Pay Now options
7. Select ‘Save and ’save the final Invoice

By now, it must be clear to you that you can create an invoice easily using Microsoft word templates. But as you scale up your business, you will need additional help. And this is where Moon Invoice comes in. This intuitive invoicing software can fill in the gaps and let you create and send professional invoices in a jiffy.

Not only that, but you also automate the entire invoicing process with fully customizable templates for your business.

Hope this blog has answered your questions on free word templates. Find additional frequently asked questions answered down below.

FAQs