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How to create an invoice template

Congratulations! You’ve set up your business; got the word out, won yourself a customer or two – now you’re ready to send out your first invoice. Where do you start?

1. Get an invoice template

If you want to design your own invoice, the Australian Tax Office voluntary standards give a good guide on where to start.

 

2. Put the right details on the invoice

The invoice represents your business, so you want it to be as professional as possible. Not only should you have your business logo, there are other important details you need to include:

  • Your information
    • Business name – if you are a sole trader or freelancer you can use your personal name
    • Business address
    • Contact details
    • ABN/ACN
    • If GST registered your invoice should include the words ‘tax invoice’ and you need to include the GST amount for each item along with some extra details. If you’re not registered for GST, you don’t show these words and your invoice should show that no GST was charged on the purchase. www.business.gov.au has useful information on invoice types.

 

  • Your customer’s information
    • Make sure you have the correct customer name, contact details and address
    • Details of the goods/services bought
    • List the products you sold, their prices and how many were sold. Or, if you were providing a service, include a description of the work you did and the fees involved so your customer is clear. If there is a reference number make sure that is in also.


3. Make it easy to get paid

Specify the reference you want your customers to include on their payment to you, for example, this might be their invoice number. Make sure you include the payment methods you accept (i.e. your business bank account1 details and how customers can pay via credit card). Also, mention on the invoice your payment terms and due date.

Read more

I want to receive payments

Accepting and making payments is crucial to your business. The quicker you're paid, the healthier your cash flow will be.

Business banking 101

Managing your money and cash flow is important for business success. Here's three things to consider when choosing the business banking products you need.

 

Managing cash flow

To give your business the best chance of success, it’s important to start with a clear idea of the costs involved, both to start the business, and then to keep it running.

 

Things you should know

1. This website content is only a comparison of certain Westpac account rates.  It does not take into consideration rates with other financial institutions.

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Terms and Conditions, fees and charges apply with respect to Westpac’s transaction and savings accounts and Online Banking facility. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement for Westpac’s transaction accounts, (PDF 368KB) for Westpac’s deposit accounts (PDF 368KB) and for Westpac’s online banking facility (PDF 296KB) and for Westpac’s Term Deposit accounts (PDF 110KB), before deciding.


Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714. This information does not take into account your personal circumstances and is general. It is an overview only and should not be considered a comprehensive statement on any matter or relied upon. This information including any tax information provided in this article  should be used as a guide only. We recommend that you seek independent professional legal and tax advice about your specific circumstances.