Excel is a spreadsheet software being used by millions of businesses, institutions, and private individuals all over the world. According to Microsoft, there were 258 million paid users of the Microsoft 365 commercial suite of Office products at the end of 2020’s first quarter. And within the year, there was an increase of 30% monthly usage of the software. This data goes to show that Microsoft Office, particularly Excel, has been the default spreadsheet software of choice for bookkeeping and accounting needs.
Excel and Budget Management
In terms of budget management, Excel is an easy, simple, and quick software that gets things done. Customizing its functions means accounting is automated and you simply need to manually encode information and the software does it all for you. Aside from calculating income and expenses, Excel is also a great tool for creating invoices. For small business owners, getting paid for products and services is your bloodline, and if there are delays due to miscommunication, late sending of invoices, and late payments, it can have significant repercussions on your whole operation.
To solve this problem, Excel invoice templates are being used by businesses today to fastrack payments, as well as to monitor income and expenses. Your bottom line as a business is extremely important and many companies have folded simply because they can’t manage their budget well. While there are more important things in your business like product development and marketing, it’s your income and expense flow that determines if you are making a profit or not. It can also determine whether you’re actually succeeding in your business, or maybe it’s time to close your company.
Why You Should Use Excel Invoice Templates
Excel spreadsheets can be created anytime. You can simply buy Microsoft Office software and start making your own Excel spreadsheet. However, it does take time and there’s a steep learning curve if you’ve never made one on your own before. The technicalities may be overwhelming for many, but once you’ve mastered its operations, you will have the ability to create any kind of spreadsheet you need. You can also access your spreadsheets on your mobile phone, making it accessible and convenient for those who’re always on the go.
Tailor-made Or Free Excel Invoice Templates
Excel comes with a few templates already installed, and some you can download for free. For more detailed and feature-rich options, there are also paid templates you can buy. Some are ready-made while others provide you with an opportunity to customize and create your very own invoice template according to your needs and specifications. By using an Excel invoice template, you can streamline your invoicing needs, making it faster to send payables and receive payments.
Improved Brand Identity
Impressions count when it comes to maintaining a successful business. Your customer develops an impression of your business in every interaction they have with you, and this includes the invoice. Professional invoice templates on Excel lends credibility to your brand. A tailor-made invoice template improves your brand identity when it adheres to your company’s overall image, developing your position as an industry expert by achieving visual consistency in every aspect of your business.
An invoice template on Excel is a vital tool that can help your business benefit from streamlining your accounting and bookkeeping. Because these spreadsheets are automated, you can send an invoice to your client faster, and thus, you get to receive faster payments in return.