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Invoice Format In Word

Generating invoices, commonly called bills, is part and parcel of businesses’ everyday operations. The invoices document the details of every transaction and make tax filing easy for companies. After the new GST regime mandating the issuance of invoices on most transactions, having a valid invoice format is a must for every business.

Invoice formats in Word, Excel and PDF are some of the commonly used invoice formats by most businesses. MS Word is an intuitive and easy to use tool to create invoice formats of your choice. Using the free templates provided by the invoicing software, businesses can create customised invoices.

Invoice format in Word is best suitable for small and medium-sized enterprises as it is an affordable and easy to use tool. Anyone with a basic word using knowledge can use the software to create an invoice template of choice.

Here is a detailed guide about the invoice format in word, how to create it on your own, and how myBillBook helps in generating custom invoices in seconds.

Downloadable Free Invoice Formats in Word

If businesses don’t want to take the pain of creating an invoice format on their own, they can rely on online platforms to download a variety of invoice formats in Word.

myBillBook is one such platform that offers a free  invoice generator tool with customisable invoice formats. Depending on their billing needs, businesses can download invoice formats from the myBillBook billing software.

The free invoice formats can be edited to represent the business theme and brand image. These professional format designs can then be personalised to include the details of your preference.

invoice format in word

How to Create Invoice Format in MS-Word

MS-Word offers two options to create an invoice format. One is to use the pre-loaded templates provided by Word, and the other is to build one from scratch using an empty word document.

Option:1 – Using Word Templates to Create Invoice Format

Using Word templates is one of the easy ways to create an invoice format. Below are the steps to create an invoice format.

  • Open MS-Word
  • Click on ‘File > New
  • Search for Invoice in the ‘Search for online templates’bar
online word template
  • You will find 12+ invoice formats ranging from a simple sales invoice, invoice with sales tax, packing slip, etc.
invoice template in word
  • Choose one, download it to your PC, fill in the required information, and save it. You can take printouts or share them online with your customers.
  • Every time you want to create an invoice, you need to repeat the same process. Download the format, fill it and use it. 
  • You can also add the company logo, name and address to the invoice. 
  • You can also delete any unnecessary fields.

Option:2 – Using Word to Create Invoice Format

No subscription is required to use the predefined Word templates. However, Word does not allow any changes to the formats. For example, the background colours cannot be changed, and no additional information can be added. If a customised invoice is required, it can be made using a blank word document as described below. 

  • Open MS Word, click ‘File > New Document
  • Click on ‘Insert > Header’
  • Choose the Header format, which allows you to insert invoice heading (on the left) and the business logo (on the right). 
  • In the next line of the header, add Date (on the right), Invoice number (in the centre), and company name and contact details (on the left).
  • Right below the header field, on the right side, insert customer name and contact details under the header – ‘Invoice To’ 
  • Next comes the purchase details fields. Based on your business requirement, include fields like product description, quantity, unit price, discount, total price, etc. You can also use a table to represent this data. 
  • Leave multiple fields empty to enable data entry. 
  • Below the table, to the right, include fields for sub-total, tax, discount, and total amount. 
sample invoice format in word

This forms the basic invoice format. You can save the same and use the copies to create invoices for the customers. You can also add terms and conditions, payment terms, payment options, etc., at the bottom of the invoice.

Limitations of Using Word for Invoice Formats

MS-Word is one of the easiest options for invoice format creation. For start-ups and small businesses, it helps create custom invoices at no cost. However, using Word to generate invoices is viable only until the business is in its initial stages. Once the business picks up and the need for invoicing increases, it poses its own drawbacks.

Here are some of the disadvantages of using Word to create invoices in the long run.

 

  • Not scalable: Invoice creation in Word is easy when the business has limited products and requires a very small number of invoices per year. But when there are many products and the number of customers increases every day, invoice creation in Word may not be a great help.
  • May not look professional: Invoices are the first official documents customers receive from a business. So imagine the first impression when the invoice looks pretty normal without any brand representation.
  • Lack of consistency: In a word invoice format, everything is added manually, and there are no fixed fields. Any wrong entry would change the way the document looks. And you need to put extra effort to make every invoice look similar. All this, in addition to ensuring the accuracy of product prices, tax rates, discounts, and total bill amount. Don’t you think it puts extra stress on the biller?
  • High chance of errors: At least in excel, you can use some formulas to calculate the discounts, total price, tax rates, etc. But in a Word invoice, you need to calculate everything manually. This increases the chances of errors in billing and ultimately in accounting.
  • Compromised safety of information: All the Word invoices must be saved individually on the same PC to enable easy data retrieval. Any damage to the PC due to loss or theft puts the entire billing data at risk.

Besides, the word invoices do not support accounting and tax filing activities and may not provide GST-compliant invoices. Hence, generating invoices in Word 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.

Benefits of Using myBillBook for Invoice Generation

myBillBook is a comprehensive billing and accounting solution that provides various invoicing and bookkeeping features. Sales invoice generation in compliance with GST norms is one of the key features offered by the platform. Using myBillBook to generate invoices would provide the business with the following benefits.

Professional invoices

: myBillBook offers more than six invoice formats to choose from. Businesses can choose any format representing their brand and add custom fields. Having a set format helps companies to issue consistent and professional invoices to their customers.

Completely customisable

: Despite a professional undertone, the invoice formats can be modified as per business needs. Users can customise its elements, formulas, components, and even the visual design.

Simple design

: The myBillBook invoice format is designed in a very user-friendly and simple manner. No special skills are required to use it, and users will not have any complexities while figuring out how to use the format.

Faster billing

: Once the user selects a billing invoice format, the same will be selected automatically every time a new invoice is generated. As all the fields are set, users need to simply enter the required information to create invoices in a jiffy. This enables faster billing and lesser queues at POS terminals.

Easy to print & share

: The myBillBook invoices are also print-friendly. Once the users create an invoice, they will have different options to print, download or save the invoice. While printing the invoice, they can choose between thermal and normal printing options with different sizes. The app also allows online sharing of invoices through Whatsapp and email.

Adopting simple tools like myBillBook billing and accounting software is not a big deal when companies want to take their businesses to the next level. The benefits provided by the software definitely outweigh the costs involved. Download myBillBook application today and enjoy effort-free billing and accounting for your business.

Know more about  Billing & Accounting Software for Small Businesses