What is a Retail invoice?
An invoice is a commercial document generated by the seller that lists items sold or services provided and their quantity and total sum due for the same. It is an essential accounting item as it helps both buyer and seller keep track of the amount owed and the amount paid.
Why do we need an invoice?
You need an invoice because:
- It is official proof that a transaction involving the sales of a service or item has taken place. It specifies what, when, to whom, and in what quantity the item was sold.
- It helps you keep track of payments by allowing you to set the terms of payment. You can send out payment reminders if the invoice states that a payment amount is outstanding from the buyers.
- An invoice, when raised, will leave behind a record of the transaction.
- Invoices help you analyse business trends with the data provided. You can easily find out buying trends, top-selling products, etc., helping your business flourish.
- Invoices are a priceless resource for accounting. They help you keep track of payments and dues, thereby making the tax filing process much easier.
Retail Invoice template in Excel format
Microsoft planned Excel for working and addressing huge tables of information. It upholds easy to complex formulas and is entirely flexible. Nonetheless, it’s not known for being pretty. One reason that it’s typically utilised internally inside a company.
Invoices are documents that you convey to your customers – they are a representation of your company. Some suggest utilising Word, thanks to its implicit templates and layout of the board. Word makes it very simple to create a professional invoice.
But Word misses the mark in wording or reasonableness and ease of use. It’s challenging to include a table of details, calculate totals or taxes.
The ideal choice is to use myBillBook’s services for making invoices. You can utilise myBillBook to create professional and personalised invoices.
It is not difficult to make a professional-looking invoice design utilising Excel invoice templates. myBillBook permits you to look over a wide scope of organisations and alter them as per your necessities. Numerous organisations require excel usefulness in invoices for simplicity of estimations to save time. Using the free excel invoice designs from myBillBook, you can make an excellent looking invoice for your clients surprisingly fast. Further, you can refer to GST charges associated with the exchange as a professional service provider.
Would you like to make an invoice utilising Excel but have no clue about where to start?
At myBillBook, you gain access to adjustable excel designs that can assist you with producing the invoice rapidly. It gives you the freedom to make customisations suitable for your image, including shadings, logo, and address. Further, you can utilise the myBillBook invoice generator to abstain from using complex tools and simplifying the interaction for anybody. You need not recruit a designer, which can cost you thousands for a simple template.
Features of Excel template for invoicing
- Prepared to utilise excel formats can be downloaded for free
- Add logo and business address to represent the identity of your business
- Make printable invoices and send them to your customers
- Utilise professional formatting for improved client experience
- Implicit formulas for programmed calculations on adding things
- The broad scope of choices to pick the ideal fit for your business
- Complete customisation to assist you with representing your brand through your invoice
Elements of an invoice
An invoice should be drawn with the following to be considered legally legitimate.
- The word “invoice” should be prominent with a unique invoice number to differentiate it from the bunch followed by the date you raised the invoice.
- The due date and the payment terms should be specified on the document.
- The seller’s name and address should be provided so that customers may reach out in case of any queries.
- The name of the customer, along with the billing address and shipping address.
- The details of the items sold, such as:
- The name of the item or service.
- The quantity which was requested by the buyers.
- The rate per unit of the item.
- The amount for the total number of units bought.
- The subtotal.
- Tax levied on the items.
- The total invoice amount.
- The due balance.
- The terms & conditions and authorised signatures.
Why use myBillBook for your invoicing needs?
A software like myBillBook allows retailers to bill faster and produce various invoices much more efficiently than creating manual bills and invoice while also keeping data accuracy in check. What’s more, myBillBook invoicing software lets you access all your data through the web at any given time that you need it, for no extra charge.
- myBillBook Android billing app can create GST and non-GST inclusive invoices (as per your preference) within seconds.
- It projects a professional and sophisticated image with professional-grade paper bills.
- You get regular notifications on the status of payables and receivables using our free accounting invoicing app,
- It provides 24×7 access to sale and purchase orders and allows you to monitor them till they’re delivered/received by relevant parties.
- myBillBook paid invoice app helps you save warehouse space by assessing the demand for the various stocks so that you can make purchasing decisions accordingly.
- You receive 10+ exclusive reports that ensure smooth functioning of the business, like:
- Sales summary
- Profit and loss reports
- Party statements
- Stock summary
- GSTR-1 (Sales) [paid feature]
- GSTR-2 (Purchase) [paid feature]
- GSTR-3B [paid feature]
- Protect your data with daily automated backup and sync your mobile app with your desktop software. This way, you can access all your records on the go through your mobile phone.
- Create purchase vouchers, payment receipts, quotations (estimates/sale orders), purchase orders, sale returns, purchase returns, delivery challans, and expense vouchers from your mobiles.
- You can upload a complete inventory of the stocks by transferring items from other accounting apps or with the use of excel sheets and images.
- As an additional feature myBillBook has a feature for automated purchase orders. So, whenever a particular stock is about to reach its lower limit, myBillBook places an order to maintain the inventory.
Points to keep in mind while creating an invoice
- It should be aesthetically pleasing. You should use the colours in a way that highlights all the essential parts naturally.
- Be very clear in terms of description. Avoid hidden charges as those can put a customer off.
- Give your clients a consolidated amount of how much they owe you for saving their time.
- Include incentives on early payments and seasonal promotions/offers in your invoice to ensure that your customer pays you on time.
- Offer multiple payment options. It ensures timely payment.
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