In Microsoft Excel, you can create any custom template that you can use later. These formats or templates are beneficial in many situations. If you create a template, you can use this as a calculator. All you have to do is input your data. It will automatically provide you with the results. In this article, we will provide you with a free tax invoice format in Excel that you can use for your company or shop.
The above screenshot is an overview of the article which represents a template of the Tax Invoice Format in Excel. You’ll learn more about it as well as parts under different criteria in the following sections of this article.
Download this template.
What is a Tax Invoice?
Now, a tax invoice basically indicates the taxes on goods and services. It’s an enumerated list of charges for respective products sold or services generated along with the indirect tax payment for each product and service.
A tax invoice must incorporate the explanation of the product or service, amounts, date of shipment, method of transportation, and costs. It also contains the entire amount and the tax assigned to the supply.
What is a Tax Invoice Used For?
Now, the primary purpose of tax invoices is to bring benefits of tax praises. They recreate a role in identifying trades in a state’s tax procedure. For calculation connotations, people submit the tax invoices to applicable authorities at the end of every financial year to deliver financial reassurance.
For the government, tax invoices are essential as they control tax evasion.
In expansion to incorporating the relevant attributes on the invoices, a company or shop must issue the tax invoices on time. Ideally, when the products reach the customers, the invoice is issued. For services, the government charges tax invoices within thirty days after providing the services. Banks and other monetary organizations should allocate the tax invoice within forty-five days.
What Things Should You Consider in Tax Invoice Format?
Now, before you make a tax invoice format in Excel, you must include these key things :
- Invoice number
- The Date
- Customer name
- Shipping and billing address
- “Tax Invoice” word should be visible clearly
- An explanation of the goods and services, their quantities, and price
- The tax rate
- Total Tax on the subtotal
- Discount if any
- Subtotal with discount
- The total value including tax
- Signature of the supplier and the customer
Basic Features of a Tax Invoice Format
In the following sections, we will provide you with a brief description of our tax invoice format in Excel. We recommend you read these sections to have a better understanding of the tax invoice format. You can use our template as a go-to. But, if you read this, you can create your own tax invoice format in Excel. I hope it will improve your Excel knowledge.
1. Company Information in Tax Invoice
First thing first, our invoice contains the company details in the left corner. I think this is the first thing people notices. Your invoice should always contain the name of your company or your shop. Also, we have the company address, phone, email, and website here. These are some basic information that every tax invoice format in Excel should include.
Also, you can add any logo. If your shop or company has any kind of logo, add that to the invoice. It gives an extra edge to the invoice format in Excel.
On the right-hand side, we added some tax invoice information. Remember, these sections are much more meaningful than you think. First of all, your tax invoice should have the visible Tax Invoice written. We made it clear so that people can notice this.
Finally, the tax invoice format should contain Invoice No., Customer ID, and Dates. These are crucial because it provides the identity of the customer and their supplies.
2. Biller Details in Excel Tax Invoice
Now, the next most essential thing is the biller details. Or you can say the customer details. Your invoice must include the customer information. Here, you can incorporate various information. We added Name, Company, Address, Phone, and Email. These basic things are enough to reach the biller.
3. Description, Quantity, and Total Amount in the Format
Now, the most fundamental thing in an invoice is the product and its billing details. We can’t imagine an invoice without this. Here, our invoice has the product’s description, quantity, unit price, and total amount.
Now, in the product description field, you have to enter the product’s name and descriptions if has any. Quantity is basically the number of that particular product that you are selling. Unit Price is the cost for each product.
And the Total amount we are calculating by this method:
In the following screenshot, you can understand it better:
Here, we used the cell references in the formulas.
- Create GST Invoice Format in Excel (Step-by-Step Guideline)
- Excel Invoice Tracker (Format and Usage)
- Self Employment Tax Calculator in Excel Spreadsheet (Create with Easy Steps)
4. Billing Details in the Tax Invoice Format
Now, we are in the final details of the tax invoice format in Excel. Here, we have to accomplish the total billing details with the tax.
Here, you have to include to tax rate or any discount rate.
We are continuing with the previous example. In the following screenshot, you can see the total bill:
Now, let’s get into the calculation. Here, our subtotal is the sum of all products’ costs. Our tax rate is 5%.
So, the total tax charged on the subtotal is:
Now, we have a discount of 10% on these products. So, our current Subtotal will be:
Also, we have a shipping fee of $50. So, we can calculate the total amount from here.
5. Additional Remarks and Signature
Finally, you can add any additional remarks and signatures in your tax invoice format in Excel. These remarks may represent some conditions or rules of your company that customers should remember.
Also, you can add any queries sections to make it look professional. If the customer has any queries, they can contact you via that.
Another important part is the signatures. This represents that both supplier and the customer got this invoice.
💬 Things to Remember
✎ Our tax invoice format in Excel has the formulas included. You can download and try with your own data.
✎ Remember, your tax invoice format should always contain the customer’s ID and Invoice No. These things basically create an identical invoice. If any customer loses his invoice, he can retrieve his information by this details.
To conclude, I hope this tutorial has provided you with a piece of useful knowledge about the tax invoice format in Excel. We recommend you learn and apply all these instructions to your workbook. Download the practice template and try these yourself. Also, feel free to give feedback in the comment section. Your valuable feedback keeps us motivated to create tutorials like this.
Don’t forget to check our website Exceldemy.com for various Excel-related problems and solutions.
Keep learning new methods and keep growing!
- Labour Contractor Bill Format in Excel (Download Free Template)
- Tally Bill Format in Excel (Create with 7 Easy Steps)
- Transport Bill Format in Excel (Create in 4 Simple Steps)
- Reverse Tax Calculation Formula in Excel (Apply with Easy Steps)
- How to Calculate Marginal Tax Rate in Excel (2 Quick Ways)
- Income Tax Computation in Excel Format (4 Suitable Solutions)