An invoice is a slip issued by a seller to the buyer with regards to a sale detailing the quantity of products or services along with the price as agreed by both parties. This is a commercial document normally given to the buyer as a demand for payment contrary to a proforma invoice.
The creation of an invoice is a requirement not only because of governing laws, but due to the need of the business entity to record accurately their transactions and incorporate them in reports. The following variations of an invoice template are available for free for you to peruse and to download.
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Sales Invoice vs. Official Receipt
Sales invoice and official receipts are documents which are most commonly used by any business entity. These terms have some differences in their respective functions. To make you understand better both of these terms, here are their key differences.
- Time of Issuance – Both an invoice and a receipt are issued at the end of a sale transaction but unlike a receipt which is given to the buyer after full payment is done, an invoice is issued to inform the buyer of the payment due as seen on the example lease invoice template.
- Duration of Terms – An invoice is issued with a specified payment term for the buyer to follow. However, this information does not apply on a receipt. An Excel invoice template sample has a space set for payment terms.
- Purpose of the Document – Printable invoice templates are used by a business entity to issue invoice to customers for purposes of recording the sale transaction in detail to monitor receivables. On the contrary, the receipt serves as a document confirming the payment of the customer for the purchase.
- Issued Information – The information included on the invoice templates in Word comprise of the list of products or services that the buyer needs to pay, the paid products or services of the customer, with the specified mode of payment.
Freelance Invoice Template
Generic Invoice Template
Free Generic Invoice
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Invoice Template Types
Various types of Invoice Templates in PDF, Word, and Excel formats are available on this website to cater to different types of transactions. To easily find the template you are looking for, here is a list of invoice templates with corresponding information:
- Basic Invoice Templates – These templates have invoice formats which apply to any type of transaction. A self-employed template is an example of this.
- Commercial Invoice Templates – Templates under this category are invoice templates issued by commercial business entities for commercial purposes. A freight invoice template is one example.
- Freelance Invoice Templates – These are used by a freelancer in requesting payment for done service. Applies to freelance writers, photographers and consultants.
- Generic Invoice Templates – Template format applies to entity product or services to be recorded in detail with the use of technical terms. Labor invoice and medical invoice templates fall under this category.
- Hourly Invoice Templates – This is used for jobs with hourly payment terms. An hourly service template is an example of these templates.
- Job Invoice Templates – Construction invoice template fall under this group. They are issued to a customer hiring service from another business entity.
- Legal Invoice Templates – The legal services given to a client is issued with this type of invoice template. The legal fees invoice template form part of this group.
- Medical Invoice Templates – Medical institutions such as hospitals issue this invoice format for medical services.
- Professional Invoice Templates – Estimate Invoice Templates, otherwise known as proforma invoice templates, fall under this category. The seller issues this invoice to the buyer as a commitment to provide products or services.
- Rental Invoice Templates – Rental service businesses issues this invoice to their customers for the usage of car or property.
- Vehicle Invoice Templates – Vehicle Purchase invoice template is included in this type.
- Company Invoice Templates – These templates pertain to invoice issued by a business entity to another entity for services or products provided. Electrical invoice templates are examples of this type.
Legal Invoice Template
Medical Invoice Template
Professional Invoice Template
Essential Element on an Invoice
There are different components that complete an invoice as shown on the sample invoice templates on this website. An invoice’s key elements are as follows:
- Invoice Number – This serves as the unique reference number of the transaction information on the invoice.
- Invoice Date – This is the date the invoice was issued to the buyer.
- Payment Terms – This pertains to the agreed duration before the payment becomes due and the mode of payment to be used. This is specified along with the amount of payment due.
- Tax Inclusions – If the transaction entails tax payments, it must be clearly indicated. For non-profit institutions invoices, like an education invoice template, this element may not be necessary.
- Seller Contact Details – The name and the contact information must be specified at the top of the invoice.
- Business Identification Number – To ensure the buyer of the legitimacy of your business, indicate a business identification number along with your contact details. Travel agency invoice templates always have this element.
- Buyer Contact Details – The buyer’s name and the contact information must also be written.
- Delivery Date – This serves as basis for the payment terms of the transaction.
- Product or Service Information – This includes the products or services with details of item description, quantity, and unit price. A purchase request can be indicated for the buyer’s reference. All blank invoice templates provide spaces for this information.
Rental Invoice Template
Vehicle Invoice Template
Company Invoice Template
Using Invoice Templates in Microsoft Word
A Standard Invoice Template can be used with the usage of a word processing program, Microsoft Word, by following these steps:
- Download related invoice template format. In order for the template to easily open using Word, you must choose and download an invoice template of your choice set in Word format.
- Customize the invoice template. Since the invoice template is in Word format, you can easily run the template on Microsoft Word. There are InDesign invoice templates provided by the software but you can still customize your downloaded invoice template.
- Change information on template. Replace your company’s information and brand logos on the designated spaces on the invoice template. Once you are done, you can now print the template and use the printed invoice for your business entity’s transactions.
An invoice is an important document included in the record of business transactions that transpire within a given period. Invoices aid in the business entity’s periodic reports and serve as a support to those reports.