Invoice Template – Types, Highlights, And More

What Is An Invoice Template?

Invoice Template – An invoice represents much more than a sheet of paper with money. It is rare the day that you do not have one in your hands, for example, when buying something in the superstore or after eating in a restaurant. In the situation of the self-employed, when they receive remuneration for work done.

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Types And Formats Of Electronic Invoice

There Are 2 Types Of Electronic Invoices

• The Electronic Invoice with a structured format that facilitates its automated processing: they are XML files (UBL or Facturae), EDIFACT, etc.
• The Electronic Invoice with the unstructured format: scanned paper invoices, PDF, etc.

The structured format ensures that the invoice can be issue and receive by the recipient’s billing computer systems and, in turn, can be automated by the latter’s accounting and payment systems.

Highlights Of Invoice Templates

• Empty invoice template in Word, ready to send to clients
• fully customizable
• The professional format contains all the essential elements in an invoice
• printable invoice

Check out our invoice templates page if you’re looking for different invoice formats and layouts. Microsoft Word also offers several free templates. They are in File > New, then search/select among the available invoice templates.

For more information on the requires fields on an invoice, see our guide to creating an invoice.

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Alternatives To Using The Invoice Template In Word

Microsoft Word is designing or general documents like letters and reports. Usually, in Word, you can edit documents with a good presentation. However, adding budget lines, totals, and calculating taxes can be pretty complicated. Some recommend using Excel instead of Word for automatic formulas. Excel makes adding accommodations and calculating taxes easy. You can create a table with elements and procedures with little effort.

However, Excel falls short of visuals. Getting an invoice to look professional is very difficult, even when using professionally design invoice templates. The best option is to use tools and software designing  to edit invoices. You can use these tools to get the best of both worlds! Great comfort and an attractive style. Whenever, this is where we come into play. We have developing  our online invoice generator as a great alternative to Word and Excel. Here are some of the added benefits of using Invoice Simple:

• Professional Design
• Fully Customizable
• Customers And Articles Are Automatically Saved For Later Use
• Simple Accounting Management For Tax Season

If you have to bill more than once or twice a month, it makes sense to move to bill software.

Benefits

However, depending on the scope of the companies and the volume of their invoicing, the savings for issuing and managing invoices (issuance, dispatch, reception, storage, search, signature, return, payment, information, and cancellation, among others) can fluctuate between 40% and 80%. Among the reasons that make this saving possible are:

• Opportunity in the information, both in the reception and in the shipment. Savings in the cost of stationery and the electronic invoice is ecological.
• Ease in audit processes greater security in the protection of documents.
• Less chance of counterfeiting. Agility in locating information.
• Eliminating spaces to store historical documents is a faster and more efficient administrative process.
• Cost reduction, Improved efficiency, Increased document security, and Reduced management times.
• Greater decision-making agility, Reducing errors in the generation, capture, delivery and storage process.

Registration of the hour, minute and second of issuance of the digital tax receipt (timestamp or date stamp).

• Simple adjustments in the print file.
• We have automated electronic accounting.
• Easy to calculate taxes.

Access to financing through accounts receivable factoring. On the other hand, once companies use Electronic Invoicing, they are encouraged to digitize other documents such as purchase orders and receipt notes, achieving efficiency and savings in different business areas. Whenever ,Tax control is increased with the electronic invoice since it allows automated tax compliance visibility and simplifies auditing.

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Formats Used

However, there are no formal requirements regarding how the invoice should be encoded, but the most common modalities are the following:

• When the recipient is an individual, a professional or an SME whose only interest is to save the invoice electronically, but not to avoid retyping the data since this format does not facilitate the entry of the invoice data into the destination computer.
• This type of syntax can also be use when sending from computer to computer. There are several variants whose convergence is expects within the framework of the United Nations. Whenever, the most important is UBL, support  by OASIS, and GS1, support by the organization of the same name. In Spain, the invoice variant (from CCI-AEAT ), backed by the Center for Interbank Cooperation, the Tax Agency and the Ministry of Industry, Tourism and Commerce, is the most widespread. It has translation systems to and from UBL.

Conclusion

The electronic invoice allows institutions, companies and professionals to leave paper invoices behind and replace them with the electronic version of the tax document. However, It has the same validity and tax functionality as the traditional paper invoice. The entire billing cycle can be manage  electronically.

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