Looking for a free Excel invoice template that automates billing, tracks payments, invoices, customers, billing cycle, services, items, and reduces manual work? This invoice template by WordLayouts streamlines invoice generation and tracking in real time, helping improve cash flow visibility and keeping billing accurate, consistent, and timely.
What Are Invoices?
Invoices are formal documents used to request payment for goods or services. From small businesses to large organizations, an automated invoicing system helps you stay on top of production, delivery, and payment schedules.
What We Offer: A Free Invoice Generator and Tracker
We offer a lightweight invoicing system in Excel built around structured data tables, lookup logic, and tracking sheets. Our model separates data entry, calculations, and records, which is a good practice for spreadsheet systems. This tool is ideal for small businesses and startups that need simple invoicing but do not want to pay monthly software fees. Plus, all your data stays local and ‘in your hands’!
Customize our Invoice Sheet to Your Needs
By tailoring our premade system, users (especially small businesses) can quickly sync the tracker to company-specific workflows. Our template allows users to modify invoice layout, formulas, tax calculations, and product structure. Feel free to add extra columns in the invoice Tracking Sheet to record details such as Payment Method or Additional Notes.
You can also edit or reposition our built-in tables, graphs, and charts according to your branding needs and aesthetic preferences.
For example, you can:
- Add your company logo
- Change fonts, colors, layout
- Adjust print formatting
- Customize invoice design for clients
Our template comes with an easy Configuration sheet that allows you to personalize the spreadsheet to your business context and workflow. Users can customize everything from data inputs and calculation rules to invoice design and tracking workflows, making it adaptable to most billing scenarios.
How to Use This Excel Invoice Template (Step-by-Step Guide)
We have designed our invoicing spreadsheet for maximum versatility. Suitable for any industry, it benefits any kind of business alike.
If you’re new to invoicing systems or struggle with Excel, you’ll need a quick rundown of the core features of this template before you can start customizing it. The result is a clean, ready-to-print report to be shared internally or with clients, vendors, or other stakeholders.
Now, let’s explore this premade invoice generator and tracker, one step at a time.
Step 1: Download the file to your PC or desktop (Windows- and Mac-friendly).
You can access this spreadsheet on any modern version of Microsoft Excel (2003 and newer) (File extension: .xlsm)
Following this, macro-enable the file to benefit from all the advanced functionalities programmed into our spreadsheet.
Here’s how you can do that:
- Right-click on the file icon.
- Go to ‘Properties’
- Select the option ‘Unblock’ under ‘Security’
VBA features!
Because the file is macro-enabled, it includes useful VBA features such as:
- clearing invoice forms
- saving invoice data
- generating invoice numbers
- exporting to PDF
- printing invoices
Step 2: Customize the config sheet.
Access the Config Sheet and hit the RESET button. This clears away all the dummy data so you can start personalizing the framework to your company’s specific invoicing system. The information in this sheet is automatically pulled into the invoice, so you don’t need to manually enter profile details each time you generate a new invoice.
Begin by filling in the following details.
- Legal Name: The official name of your company, as identified in company registration documents and official government registries.
- Address: Enter the full postal or physical address of the place (office, factory, etc.) where the company operates from. Don’t forget to add the zip code!
- EIN: Enter the unique nine-digit federal tax ID number used to identify your company for tax purposes.
- Official company e-mail address
- Official website link
Choose your currency
Depending on where your company is based, pick the relevant currency you will be using to price goods/services and receive payments.
By default, this spreadsheet uses the Dollar symbol. You can easily update the currency symbol and formatting in the configuration settings to reflect your local currency.
Create an invoice coding system
Without a formal coding system, it’s difficult for companies to keep track of purchase orders and payment invoices. We have already used a specific numbering format to do the job for you. You can keep it as it is or tailor it to your own numbering style.
If you choose to customize it, simply enter the first number you want your invoices to start from. This can be helpful if you are using multiple Excel files (for different years) or if you start using this invoice-generating system midway through your existing billing cycle.
Numbering rule
Your invoice number must begin with three letters, followed by a hyphen (-), and then a sequence of numbers of your choice. Example: INV-1001, ABC-2025, etc.
Define your shipping methods
Use this table to choose 3-5 modes of shipping, depending on the logistical capacity of your business. By default, we include the most standard modes of shipping products, including air, cargo, and sea.
Once you have selected your shipping methods, identify at least two companies for each method. By standardizing your shipping methods here, it becomes easier to fill in shipping information when you are generating invoices in the main sheet.
Define product units and status
Next, define the units for your products. Depending on the nature of your business, they can be measurable units like gallons, kgs, inches, etc. In the table, we have already provided some commonly used quantities. You can customize it easily for your business needs.
With hundreds of invoices to deal with, you need a proper tracking system to ensure nothing slips through the cracks. This way, you can easily see how many invoices have been issued in total and identify which ones have been paid, are overdue, or are canceled.
Monitor outstanding balances, follow up on late payments, and maintain a clear record of your cash flow at any given time. Feel free to use the standard categories we include by default. Alternatively, you can customize these status categories in line with your cash or company workflow.
Enter tax information
Enter the tax rates applicable in your area or to your specific company, industry, or products. The template supports multiple tax percentages, so you can add as many tax rates as you need to. This is useful because different businesses may need different rates. Some goods have reduced tax.
Here’s how we use to calculate the Total Payable Amount of each invoice within the Invoice Generator sheet:
Subtotal + Tax + Shipping − Discount
Categorize your products
Use this table to define the different types or categories of products you are offering. This will be different for every business. For a departmental store, these categories may include Food Items, Electronics, Crockery or Toiletries, etc. For a jewelry brand, you will use categories such as necklaces, bangles, earrings, rings, etc.
This is useful when selecting products in the Invoice Tracking sheet, as categories help you filter and locate items instead of scrolling through a long, unstructured list. It also improves consistency, ensuring that similar products are grouped and labeled in a standard way.
Step 3: Create your product database
Now that you have configured the template, it is time to define your products. Open the ‘Product Info’ sheet and enter the details of each product or service you currently offer. With each product assigned a unique code and price per unit, it becomes easy for Excel to sort and process information. This helps when generating new invoices and making price calculations.
Think of this sheet as a mini product catalog where you assign the following specific details to each product:
- Code
- Name
- Category
- Description
- Unit
- Weight
- Price per unit
- Status
While everything is a manual entry in the sheet, we have included two predefined categories: Unit and Status.
The Unit can be selected through a dropdown menu. It is linked to the Configuration Sheet as explained earlier.
In the Status column, use the dropdown menu to determine whether the product is currently available or not. This information is pulled into the invoice fields automatically when a product code is selected.
Checking product availability at a glance
Moreover, the sheet includes a simple comparison table and a doughnut chart showing the number of products that are currently available vs. the number of products that are NOT currently available.
This helps you quickly assess product status, identify shortages, and make informed decisions about restocking without having to review data manually.
Step 4: Identify your customers
Now we come to the customer database. The invoice template includes a dedicated sheet where you can add all customer data for generating invoices quickly and without any errors.
Go to the Customer Info sheet and store all your client details in the framework provided. For each customer or client, specify the following:
- Customer ID
- Customer name
- Billing Address (including Street Address, City, State, Country, and Zip Code)
- Phone
Once you have all the data in place, you can pull all details with one click in the main invoice generator sheet.
This sheet also includes a separate table to add a Shipping Address for those customers who have a different billing and shipping address.
To add a different shipping address, simply select No in the column “Same as Billing.” A corresponding address field will appear in the Shipping Info table, and you can easily add details.
Step 5: Generate an invoice
Now that your invoice details are streamlined, you can begin generating new invoices.
- Invoice Date: Start by identifying the date the invoice is issued (C8).
- Terms: Use the drop-down to create a deadline for the payment of each invoice.
For example, Net 20 means Payment is due within 20 days after the invoice date. The “net” means the full amount of the invoice (after any discounts) must be paid by then.
- Due Date: The sheet automatically calculates the due date for each invoice by adding the term days to the invoice date.
- Purchase Order Number: Enter the Purchase Order number the invoice relates to. Feel free to use this invoicing system in combination with our free Purchase Order Template and Purchase Order Tracker to manage and track orders!
Billing and shipping addresses
- Bill To: From the drop-down, select the client or customer you are billing. The sheet automatically pulls their complete details from the Customer Info sheet.
- If the billing address for a client is selected as the same as its shipping address in the Customer Info sheet, the sheet automatically duplicates the address in the ‘Ship To.’ If not, then it will automatically pull the different shipping address and display it in the invoice.
Shipping method
Choose the shipping method and company you’ll be using to deliver the goods to the client.
Product details
Use our premade table to identify the specific products for which you are requesting payment.
Start by selecting the relevant product in Column C. The sheet automatically pulls in the corresponding product code, unit, and price per unit based on the information you add in Product Info.
The next step is specifying the quantity of the product in question. Once you specify the quantity, the sheet automatically calculates the net price of each product before generating a product total using a simple sum function (Subtotal).
Discount, tax, and shipping cost
- Discount: If you are offering discounted prices, you must specify the applicable discount rate in the designated cell at the end of the invoice. Add a discount rate as a number; the sheet automatically turns that number into a percentage value. The discounted amount is subtracted from the Subtotal.
- Tax: Enter the applicable tax rate. The sheet adds the tax amount to your Subtotal. Keep in mind that this sheet uses a single tax rate for each invoice, which means the same tax rate will be applied to all the products being billed. If different products are taxed differently, you will need to generate separate invoices for each tax category.
- Shipping Cost: Enter the total cost of shipping the product to the customer using the shipping method/company selected earlier. This amount is added to your Subtotal.
Seal and signature
The sheet also includes a Seal and Signature box where you can identify the customer you are billing the invoice to. You can either add an e-signature or, if you are printing a hard copy, sign by hand.
Review all values
As a final quality check, make sure to review your totals before the invoice is used. Though the sheet is entirely automated and leaves no room for error, it is always wise to review all details before finalizing the invoice. Verify that the total number of products is correctly added. Finally, also review the final payable amount to confirm that taxes, discounts, and calculations have been applied correctly.
In short, this step reduces the risk of billing errors that could lead to disputes or delays in payment.
Automated features of our Invoice Generating sheet:
- Invoice numbering
- Product selection
- Autofilling price and description
- Quantity X price calculations
- Automatic totals
- Tax, discount, and shipping cost calculations
Step 6: Save your invoice
Once you have filled in the invoice details and reviewed your totals, press the SAVE button to save your invoice so it doesn’t get lost or overwritten and remains properly recorded for future reference.
Press the NEW button if you want to create a new invoice. All saved invoices are automatically updated in the Invoice Tracker sheet.
Once saved, users can either print, export or email the invoice for internal or external use.
Step 7: Track invoices in real time
Open the Invoice Tracker sheet to track invoices. This sheet acts as a ledger of all your issued invoices, showing details such as:
- Invoice number
- Customer
- Date
- Total amount
- Status
- Comparison columns
All your saved invoices will be displayed in this sheet automatically.
As a live log and tracking dashboard, this sheet allows businesses to monitor issued invoices, revenue totals, and unpaid invoices.
Comparison visuals
For a quick update, the sheet comes with easy-to-read visual aids showing the number of invoices by billing status. Feel free to reposition or reformat these according to your individual needs and preferences.
Who Is This Excel Invoice Tracker For?
Whether you’re a budding start-up with limited resources or an independent procurement officer, this template gives you a brilliant kickstart.
Our invoicing spreadsheet is ideal for:
- Freelancers (designers, consultants, developers)
- Small Businesses (retailers, service providers, contractors, agencies)
- Contractors or trades (plumbers, electricians, construction services)
- Product sales businesses (small shops or distributors)
Disclaimer and Limitations
This system does not replace accounting software or provide legal or accounting advice. For example, it does not model features such as double-entry bookkeeping, bank reconciliation, and profit/loss statements. Moreover, outcomes are only as accurate and reliable as the input, as calculations depend on correct data entry.
Assumptions of this Invoice Template
This Invoice Template assumes:
- A single business entity
- A standard invoice structure
- A single currency
Related Templates
- Free Purchase Order Tracker: An automated system for managing and tracking POs, allowing you to instantly update key totals, statuses, and follow-ups for you as soon as you enter new PO details or update their payment and delivery status.
- Free Check Request Form: A formal document to streamline a company’s check payment process, helping your organization maintain budgetary control by making sure financial flows are first verified by the finance heads or supervisors before a payment is disbursed.
- Free Request for Quote (RFQ) Template: A formal bid document designed to help you solicit competitive price quotes for your business needs.
- Free Work Order Template (Excel – Google Sheets): A document authorizing the work that needs to be done for a client or customer. Pair up with this Purchase Order template to streamline purchases, control spending, and restock inventory on time.
Note for Excel Beginners
Spreadsheets can be fragile (especially if multiple users edit simultaneously).
Even if the file is clean when you download it, user edits can introduce mistakes. Use this template only if you are comfortable with Excel and can spot and fix errors. If you need help, see Microsoft’s guide “How to avoid broken formulas in Excel.”
Use backups and version control for safer invoicing
To be on the safe side, Excel invoicing systems should have weekly backups and version history so you do not lose valuable information. With that said, download our free invoice generator and tracker to streamline billing, automate calculations, and keep your records organized in one place.
