Invoicing is one of the most important parts of bookkeeping because it’s all about making sure your business gets paid. Unfortunately, invoices also tend to be a source of misunderstandings and mistakes that could cost you big time financially or when it comes to business relationships. An invoice template really comes in handy to make sure you cover all of your bases and include all of the necessary information and context to explain each aspect of a transaction accurately.
Fortunately, there are many free invoice templates on Microsoft Word and on far more dynamic Work OS platforms like monday.com. This guide explains what invoices templates are, why your business needs to use free invoices templates, and how you can streamline your invoice game using monday.com’s Free Invoices Template.
What are free invoices templates?
An invoice template is a pre-built document designed to help you maintain accurate records of every transaction between your business and its customers, clients, vendors, suppliers, and everyone in between. Invoices can take several forms, including a paper receipt, bill of sale, sales invoice, debit note, or online electronic record.
You can generally find various templates to match the type of invoice you’d like to issue to clients or other companies you’re doing business with. But regardless of the invoice template you go for, the purpose of all invoices templates is the same — to streamline the process of creating your invoice.
An invoices template is populated by all the basic fields an ordinary sample invoice might include:
- Line items
- Invoice number
- Grand total
- Amounts payable
- Company address
- Customer name
- Due date
- Payment terms
By having all of these items pre-included in your invoice, a template enables you to quickly swap out default stock information with data and numbers specific to your sale.
Why use free invoices templates?
There is a wide range of various sites and apps that offer both paid and 100% free invoices templates you can download and use for your own business. Although many online invoice templates are quite basic in terms of design and the fields you can utilize, these free templates enable you to build a customized invoice, which allows you to update line items and calculate grand totals automatically.If you’re managing one or more small businesses or wearing half a dozen hats managing a busy team, a professional invoice template can save you hours each week.
The fact that you can find so many free invoices templates doesn’t hurt, either. By having all of your key fields already prepared, the process of issuing an invoice is reduced to just dragging and dropping a few numbers specific to a new transaction. A lot of free invoices templates also have in-built formulas that automatically calculate the grand total of line items you add — meaning there are zero math problems for you to work out. That’ll save you time on invoice admin and bookkeeping so you can spend more time focusing on running your business.
What are some examples of free invoices templates?
We’ve already mentioned that there are quite a lot of different invoice types out there. As you can probably imagine, that translates to quite a few different free invoices templates, too.
To help give you a rough idea of the different types of invoice templates available to you, let’s walk through a few of the most popular free templates you’ll find on Google Docs, Microsoft Office, and other third-party sites.
Commercial invoice template
A commercial invoice template is a pre-built export document that helps companies get their international packages through customs. Regulatory bodies and port authorities rely on commercial invoices to quickly figure out which import duties or taxes might apply to a package. By getting it right the first time, you can prevent delays and unnecessary expenses.
Microsoft Office offers its own free commercial invoice template on MS Word, and you can also find PDF invoice templates.
The Word template includes all the basic fields you’d need to get an item ready to ship. But other apps do offer free designed templates for this one, and they should all include basic fields such as item description, quantity, unit price, total price, tax or VAT rates, company address, and client address. After choosing your invoices template, each field should be fully customizable to suit your needs.
Service invoice template
A service invoice template is a pre-populated invoices form that lists all the business transaction details, including a deadline for payment, total balance owed, and an itemized list of services provided. This sort of invoices template would be ideal for a consultancy firm or marketing agency offering advice or input as a service rather than selling a business tangible products.
Most service invoice templates are quite basic and include customizable fields for service descriptions, quantity, unit prices, and grand totals due.
Billing invoice template
A billing invoice template is a customizable invoice designed for when a service company bills a client in advance of payment. This is ideal for companies that use the accrual method of accounting because it’s all about tallying up what you’re owed — or “accounts receivable” — instead of what you’ve already got.
Billing invoice templates are pretty similar to service invoice templates. The only key difference you’ll find is that billing invoice templates won’t have any information relating to the total amount paid or method of payment (including online payments) — because the client won’t have paid anything yet when they get the invoice.
monday.com’s Free Invoices Template
Let’s get real for a second — invoices can be challenging to keep track of. There’s a pretty big margin for error, so you need to protect your business by making sure you cover all your bases. That’s where monday.com really comes to the rescue.
With our Free Invoices Template, you can easily build, edit, and track all your invoices and payments in one place. That means no more jumping in and out of Word, Excel, Google Sheets, company intranet, and whatever accounting software you’re using every time you need to create a free invoice or update a single invoice.
This template lets you do it all on one dashboard. With monday.com’s Free Invoices Template, you can:
- Send one-time or recurring invoices to clients the second you’ve finished creating them or download the invoice PDF
- Take advantage of monday.com’s wide list of integrations with other invoicing tools like Bill.com to connect all of your existing solutions
- Rename invoice labels, customize item tables and include every relevant field to make your invoice totally perfect
- Tag and catalog invoices for a comprehensive, bird’s-eye view of all of your team’s invoices
Best of all, our Invoices Template will let you leverage all the other amazing benefits you’ve come to know and love from monday.com, including:
- Over 34 customizable column types
- 11 different data visualizations
- 37 integrations with other apps
- Unlimited automations
You can test-drive our flexible Invoice Template free as part of a 14-day trial. No credit card is required.
Supporting Sales Materials Template
monday.com’s Supporting Sales Materials Template gives you a centralized place to store and keep all of your sales materials. It’s got a place for case studies, brochures, decks, and more. You can also track new content creation and then tag and alert members of your sales team when that content is ready to circulate.
This template enables you to build an organized repository of everything you need to close deals and get more business.
Sales Enablement Kit Template
Want to foster your sales talent and help the team improve? You’re going to want to check out monday.com’s Sales Enablement Kit Template.
This tailored board gives you space to mentor new joiners to your sales team by sharing monthly training schedules, onboarding information, and a place to complete a scorecard and review for each team member.
FAQs about free invoices templates
Does Microsoft Word have a free invoice template?
Yes. Microsoft Office comes with a wide range of pre-designed invoice templates you can use for free. These can be used on Word, Excel, or a number of other Microsoft apps. A range of external apps also offer free downloadable invoice templates that are compatible with Word.
Where do I find invoice templates in Word?
Microsoft Word makes it really easy to find invoice templates. Simply open up Word as an app or in-browser. You should immediately be greeted with a homepage that includes a “Search All Templates” bar. All you have to do is type in a keyword or two related to the sort of invoices template you’re looking for. From there, you can select the template you want and start crunching the numbers.
How do I create an invoice template in Word?
If you want to create an invoice template in Word, the process is pretty simple. Just open up Word, and you can either choose an invoices template or start from scratch with all the information you’d like to include. You can also find a free Word invoice template on a number of external sites or an invoice generator that you can simply download. Invoicing software solutions also tend to offer Word invoice templates.
Once you’ve customized all the fields you want to change, click on “File” and then “Save As Template.” By saving, you’ll be able to use your new template as a starting point every time you need to invoice someone. Keep in mind that Word templates are pretty static in terms of collaboration and would require emails and more to share with teammates.
Alternatively, using a free invoice template with monday.com is even easier and allows for more customization options and the ability share the template or collaborate on it with your team in real-time.