Excel Invoice Template

Simpler, smarter invoicing systems capable of effectively representing cost breakdowns while also staying true to a brand are the key to ensuring freelancers are paid on time, every time.

By creating an invoice in Excel, freelancers can create a living, shareable document using powerful spreadsheet software that's user-focused and offers the tools necessary to build an invoice that combines functionality with readability, enabling the creation of an invoice that breaks down costs the efficient way. 

By utilizing spreadsheet software to create your invoice, you gain access to formulaic functionality that’s just not possible using a word processor. With a program like Microsoft Excel, the complicated task of performing complex cost calculations is handled automatically, leaving you with more time to consider the design of your branded materials or to update the document with other invoice-specific information. 

With Excel, users gain access to a variety of pre-designed templates, allowing freelancers to consider all aspects of their business before choosing a guide for their invoice. To view the invoice templates offered by Microsoft Excel, create a new workbook using the “New from Template…” function, and filter for “invoice” using the search bar. From there, select the template you feel would best suit the nature of your freelancing business and existing clients.

From there, customize your invoice to capture the look and feel of your brand. Update the document with all relevant branding elements, including the following:

• your logo (if you have one)
• branding colors and fonts
• freelancer contact details
• payment terms, i.e. acceptable payment options, late fees, and policies

Excel offers the functionality to make custom changes to any of the pre-designed templates for those freelancers looking to create business materials more aligned with their personal brand–customization is crucial to ensuring your financial documents fit your brand while remaining both functional and legible. 

After you’ve updated the basic branding elements of your invoice template, you can begin exploring the various formula options supported by Excel. Depending on the nature of your products and/or services, the formulas you use in your invoice will vary according to your needs. One of the most basic functions that can be applied to most all invoice templates is the SUM function, which allows users to quickly calculate the sum of figures within the spreadsheet. Using the SUM function, freelancers quickly calculate the total cost of invoice services that appear in an itemized list, for example.

Once you’ve updated your Excel template to reflect your brand and have established your spreadsheet formulas, you can run your first invoice. For each payment, you’ll need to update your Excel document with all invoicing details relevant to the transaction, including the following elements:

• client and/or vendor contact details
• unique invoice number (for internal tracking purposes)
• invoicing/transaction date
• itemized list of products and/or services rendered 
• subtotals for each product and/or service
• payment due dates
• payment totals, including taxes applicable to your area

Once you’ve reached this final stage of the invoice process, you can then begin the formal process of billing your clients for payment by sharing the final invoice document in a way that is convenient for both them and you.

You may wish to consider different invoice creation options that better meet the demands of your payment workflow depending on the needs and nature of your freelancing business. Fortunately, users can choose from a variety of invoicing solutions that take into account a range of factors. From the software familiarity and design experience of the freelancer to the affordability and efficiency of a given document development program, a number of options exist for crafting an effective and readable digital invoice. 

At Indy, we understand the importance of accurately representing the work you do, especially when it comes to getting paid. By utilizing professional invoicing software by Indy, freelancers gain access to a powerful tool that simplifies the payment process while providing the greatest flexibility to clients as possible through integrated online payments, direct deposit or mailing options, and hour tracking.

For freelancers who are already familiar with the Microsoft platform, another creative tool to consider for their invoicing workflow is Word. With Microsoft Word, users benefit from the utilization of a widely-available program that serves as a one-stop solution for all essential invoice development requirements. Page elements are easily updated for branding and readability, and the final document is easily shared via email using a PDF formatted file. 

Some people, on the other hand, may be more comfortable with the Google Suite of creator tools. If you're a freelancer who falls into this group, you have a few alternatives for making invoices, including Google Docs and Google Sheets. Both applications offer a number of features for customizing your invoice according to your brand—as well as your products and services—depending on the functionality you expect from your invoice template.

Google Docs may be the better alternative for freelancers who want a simple, clean style for conventional itemizations. Google Docs, like Microsoft Word, gives users the fundamental features they need to construct a basic invoice, including unique invoice details, contact information, itemizations, and totals. Despite its limited template selection, Google Docs serves a useful, free tool for drafting invoices.

Google Sheets is a powerful tool for users looking for a smarter way to visualize more intricate cost breakdowns. As with Google Docs, Google Sheets is limited in its template selection, although the program does offer a basic invoice template that can be customized according to your brand and itemization structure. Users who are already familiar with Microsoft Excel should become accustomed to the formulaic functions supported by the program quickly, making the platform easy to use and sufficiently powerful for representing more complex transactions.