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Invoice Format in Excel

An invoice is an important document issued by the seller on the sale of goods or services to the buyer. It contains the details of the trading parties, the products/services, quantity, price, discount, delivery, payment terms, etc. In some cases, an invoice acts as a demand for payment, and once the payment is received in full, it becomes a document title.

The new GST regime mandates the issuance of an invoice for every supply of goods or services. There are different types of invoices, including commercial invoices, consular invoices, custom invoices, and proforma invoices. 

Every business needs to have an invoice format to issue to their customers during the sale of products. They can create invoice formats using different tools, including Word, Excel, and PDF. However, excel is a popular tool to generate invoices.

Here is a detailed guide about the invoice excel format, creating one, and how myBillBook helps you generate invoices in
seconds.

Downloadable Invoice Templates Online

In addition to the invoice format in excel, businesses can use free online invoice generators to create their business invoices.

Online invoice generator software offers free and downloadable invoice formats. Businesses can customise the formats as per their needs and print them at absolutely no cost. myBillBook is one such platform that offers a free invoice generator tool with customisable invoice templates.

invoice format in excel

Steps to Create Invoice Template in MS-Excel

Step:1 – Open Microsoft Excel.  Select ‘File > New >Blank WorkBook’ 

Step:2 – Remove the gridlines by clicking on the ‘View’ tab and then unchecking ‘Gridlines’ in the ‘Show’ section.

Step:3 – Upload the company logo in the blank sheet by clicking on Insert > Picture’.

Step:4 – Click on the ‘Header & Footer’ tab and give the header for the sheet as ‘Tax Invoice’.

Step:5 – In the next cell, enter your company details, including company name, address, email ID and GSTIN. 

Step:6 – In the next cell, create an ‘Invoice To’ field to enter customer details like name, company name, address, email ID and GSTIN/UN. 

Step:7 – To the right of the ‘Invoice To’ section, create fields like Invoice No., Date, Due Date, Terms, etc. 

Step:8 – Right below the ‘Invoice To’ section, create the ‘Goods or services’ section to enter data, including name of the product/service, quantity, tax rate, discount, unit, total amount, etc., as per your business requirement.  

Step:9 – At the bottom of the page, provide your bank details and other payment modes like UPI bar code, UPI ID, or UPI phone number. 

You can also insert some excel formulas to auto-populate the cells when creating invoices. For instance, the ‘Date field’ can be auto-filled with the current day’s date using the formula =TODAY(). Similarly, you can use PRODUCT and SUM formulas to calculate the total price of the items and the total invoice amount.

Disadvantages of Using Excel for Invoice Formats

Even though MS-Excel is one of the easy options for invoice generation, its use is limited to the initial phases of the business. Once the business expands and when the billing and accounting requirements change, excel may not be a viable option.

Here are some of the limitations that excel poses for businesses. 

  • The invoice format in excel is like an online application in which the fields need to be filled with required details. When the business has limited products, data entry is easy. But when there are many products, imagine the time and effort required in creating one invoice in excel format. 
  • Invoices created in excel can be used only to generate bills for customers. Businesses can have a copy of the same but may not use them directly for bookkeeping purposes. While accounting, they have to manually check and enter the bill details, which is an additional task. 
  • Businesses need to have a valid purchase licence to use excel. Even when they have a readily available format, they may not be able to do changes it if required. 
  • If the business wants to keep the billing information, all the invoices must be saved individually. Everything needs to be done from the same PC to have the entire data in one place. And finding a particular bill involves a lot of searches. 
  • As all the excel invoice sheets are saved on the same PC, any damage due to loss or theft puts the entire data at risk. 

Hence, generating invoices in excel is not viable if the businesses look for a comprehensive billing and accounting solution. 

Use myBillBook to Create Custom Invoices

myBillBook is a one-stop solution for all your billing and accounting needs. Download the application today and experience the ease of billing and accounting with just a few clicks. First, let us see how to generate invoices using myBillBook software.

Generate Invoices using myBillBook Web App

  • Login to myBillBook web application
  • Enter your business details, including business name, type, industry, address, logo, bank account details, signature,  etc. 
  • Under ‘Sales’, click on ‘Sales Invoice > Create Sales Invoice’
  • Click on ‘Add Party’ – Enter your customer details like party name, mobile number, address, and GSTIN
  • Click on ‘Add Item > Create New Item’ – Enter details like item type, item name, sales prices, category, item code, etc. 
  • You can also add additional details like discount amount, delivery charges, terms and conditions, bank details, etc., to be displayed on the sales invoice. 
  • Click on ‘Save Sales Invoice’
  • Once it is done, you can view the complete invoice. 
  • Find the options to ‘Print’ and ‘Download’ the invoice and share it with your customers. 

Generate Invoice on myBillBook Mobile App

  • Login to myBillBook mobile application
  • Enter your business details, including business name, type, industry, address, logo, bank account details, signature,  etc. 
  • Click on ‘Bill/Invoice > Add Party’ option
  • Enter details like party name, mobile number, party type, address, GSTIN, etc. 
  • Click on ‘Add Item > Create New Item’ – Enter details like item type, item name, sales prices, category, item code, GST & Tax details, etc. 
  • You can also add additional details like discount amount, delivery charges, terms and conditions, bank details, etc., to be displayed on the sales invoice. 
  • Click on ‘Save & Generate Bill’
  • Once it is done, you can preview the complete invoice. 
  • Find the options to ‘Print’, ‘Download’ and ‘Share’ the invoice. 

myBillBook not just helps generate invoices but is also integrated with the accounting and inventory functions to enable ease of conducting the business. In addition, business owners can also evaluate the company’s performance by looking at the sales reports generated by the software at no additional cost. 

All these billing and accounting features come at a nominal cost of INR 399 per year, making myBillBook an affordable premium accounting software for your business. 

Know more about  Billing & Accounting Software for Small Businesses