35+ Free Invoice Templates to Download 2026

For example, you may send interim invoices to a customer while working on a large, ongoing project. Read on to learn what is an invoice, how to create the document, and more. It’s usually done for big-ticket items or customized orders but requires a clearer arrangement and agreed-upon terms.

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Before doing any work or selling any products to a client, the first thing you need to do is define your payment agreement. Ideally, both parties sign a contract outlining payment terms to get on the same page. This should include how much they pay you, how often they pay you, and the manner in which they pay you. Intuit Assist can help personalize with colors and images from your website, and quickly add the necessary info.

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While not a demand for payment, a proforma invoice sets the stage for a smooth and transparent transaction process. A proforma invoice is a preliminary invoice sent to a customer before the delivery of goods or services. It contains the details of the transaction, including a breakdown of costs, but it is not a legally binding document. Proforma invoices are commonly used for obtaining advance payment or facilitating customs clearance for international shipments. Aging of accounts receivable reports show you the number of days an invoice is past due. Your accounts receivable (AR) is the money owed to you from customers.

• By utilizing recurring invoices, businesses can streamline their billing process and ensure a consistent cash flow.
• The first template below should work great for just about any industry and product or service type, and you’ll notice many of these templates have only slight variations on it.
• If you deal in services, there’s some leeway in how you create line items.
• If you use accrual accounting, record the invoice amount as accounts receivable (AR) in your books.
• As a small business, you’ve probably concerned yourself with everything from product development to marketing, but you might not have your system for invoicing down yet.

U.S. Invoice Template in Word (Basic)

To do this, you can either use free invoice templates like FreshBooks or pay a small fee to purchase time-saving, cloud-based invoicing software. Using accounting software not only gives you the ability to track your invoices, but you also get extensive reports and other much-needed features for business. If you want to automate your invoices and your accounting books, accounting software may be the way to go. Not to mention, there are some providers that let you create and send estimates, convert estimates to invoices, accept credit card payments, and more. Our blank invoice templates are designed for small business owners looking for a quick way to bill clients and customers for goods assets = liabilities + equity and services they provide.

Jason Ding is a seasoned accountant with over 15 years of progressive experience in senior finance and accounting across multiple industries. Jason holds a BBA from Simon Fraser University and is a designated CPA. Jason’s firm, Notion CPA, is an accounting firm with a business-first focus. In his free time, you’ll find Jason on the basketball court, travelling, and spending quality time with family.

Is an Invoice a Legal Document?

Include as much contact information as you have, and don’t be afraid to ask your client if Opening Entry you need more details. If you’re billing a specific person at a company, you can list the business name, then the person’s name. The bold, usually all-caps document title means I’m about to have to pay someone for something that already happened.

Store all of your PDFs right in your account for easy record keeping. Yes, an invoice is a formal request for payment, so it means you have an obligation to pay according to the agreed-upon terms. Prominently display the subtotal for goods or services, any applied taxes or discounts, and the final amount your client owes.