Streamline Your Workflow with Our Customer Receipt Template for Management

Customer receipt template for Management

hello and welcome to another video from insara.com in this video i will be presenting the asset rental invoice and receipt excel template this template can be used to create and manage invoices and receipts for a rental business in cases where you are renting certain items or assets to your customers in exchange for a fee for the rental and if you want to create invoices that you can send to your customers and also when the customer makes a payment you want to issue a receipt acknowledging that the payment has been received then you can use this free template to create and manage those invoices and receipts in this video i will explain how you can do that and i will also be providing a link to the template page which you can download from insider.com for free and create your own invoices and receipts for your business now let's get started now what we see here is the excel template and i have already entered some business information here as a starting and then you'll see on the right side some information that will help you get started with using the template so this is the first page there will also be a link to the blog post where i will have detailed descriptions screenshots and video tutorials on how to use this template in terms of the features the template can be used to create invoices and receipts you will have a lot of option to customize it you will also be able to save a lot of time because a lot of the calculations are automated and you can handle discounts and tax rates in the template if that's applicable to your business you will also save a lot of time because you don't have to enter the customer information and again and again or the product information again and again now let's get started with the initial setup of this template first we enter the business information here in this case i've entered some sample business information and the contact details this will automatically get populated in our invoice then we enter the payment method so these are the methods that we can accept payment from our customers so i have chosen cash and bank transfer but in your case if it is for example if you want to add credit card you can do so you can enter your payment methods that way including the return date is that yes or no let's say for example you're renting assets to your customers from february 1st to february 15th would it count as 15 days of rental or 14. if in your case it's 15 then choose yes for this including the return date setting if in your business if it is only 14 counted as 14 then choose no so you can make this work ing to your business policies now that we have entered the settings let's go to the asset sheet this is where we will enter the complete list of assets that our business will be renting out and i'm assuming here an example where we are renting out digital photography products or items and so i've entered some names and descriptions and also i'm giving a unique number to each of my asset and then you can either do it as um you know i've entered here the price that i will be charging my customers per day of renting each of these items and you can also enter a unit of measurement like in in most cases i can think of it'll be like an item like a count of an item that you're renting so i've entered count here but in your case you can customize this field to how whatever attribute that you want to capture for your asset taxable yes or no and this is where you can enter whether a specific item should be taxed or not and if you don't want it to be taxed just choose no by default everything is taxable so you don't have to keep entering yes yes yes you'll just say no if it is not that's it there is also an option to provide custom fields so i understand that each business is different so in your case if you want something else to be captured then just rename this field like my own field something whatever you want to capture maybe you want to capture the weight of something or the maybe the color of something or you can enter your own field here let me just choose color and i can then type in blue yellow green something like that for my different assets you can also add more columns by typing in a new value here and extend that's if in case you need more and more data to be captured on the asset level now let's go to the second next thing which is the customers this is where we can enter a list of our customers who we rent out our items and i've entered three samples here i've given a name an address contact information for each of those customers similarly you can enter more information you can customize the field if you need more uh attributes to be captured for customers now now that we have done those now let's get the invoice sheet set up uh before we start creating our own invoices there are a few things that i would recommend you to do which would be change the logo change the picture here from a file and then choose a picture from or image file from your computer then that becomes your logo and then you also want to make sure that if there is anything else like for example notes this is what i have entered by default please pay within 30 days if it's something different for your customers then you will just enter um your own notes or message that you want all your invoices to have so now once you do that the last thing i would recommend you to do is to change the currency i know we don't see any currency here i let me know that we don't see any currency amounts here but what i do want to tell you is that i would recommend you to go to control g and now you'll see c-u-r-r-i-n-v hit okay that's the currency cells so you can see that all these cells are automatically selected now now you can do control one and then you will change this to currency and whatever the currency is so let's say i choose dollars that's it now nothing is happening yet but i'll show you how all this works but now you've modified the currency settings now you're good to go to create our first invoice in the invoice creation step you will see that there are some light blue colored cells here this is where we start so let's start creating an invoice let's say our invoice number is one two three four you can number it however we want but i'm just going to start creating an invoice with the one two three four number as my invoice number and then the date will be let's say i'm creating it on february 1st 2021 and then i can choose this invoice to be for this customer and immediately the address gets populated and now when my my rental is going to start when is it going to start so let's say it's going to start feb 5th and then the customer should return back feb 10 and then the payment due date is let's say for example it is february 25th now the template automatically calculates that there are totally six days of rental from fifth tech fifth feb to tenth fret okay now let's go to entering the details of my invoice so this is where i can say for example my first item is asset id one i'm gonna you know this is my description and maybe you know um i instead of the unit column if i want a name to be appear here i can change it so these two columns are customizable like you can choose what you want to display and then the quantity would be let's say i'm renting out one it says it's already 150 as the rental price and since it's for six days it automatically calculates 900 and you can see that it is the amount after tax and this is taxable but we haven't entered the tax rate yet i'll show you where to enter but before we gather if you have any discounts to apply let's say i have a discount of ten dollars then i can apply it automatically does it for us so now let's go to the second line and i say i'm gonna have another asset that i'm renting one unit of that or one quantity and then this time i don't have any discounts and it automatically calculates this okay let's just say imagine that there's only two items here i'm going to go here and explain first the options that you have in terms of tax rates as i go down below you see that the subtotal is automatically calculated and now i can actually add 10 percent as my tax rate and you see that the amounts updated everywhere and you can also choose to show amount before tax here so if you don't want the tax to be included you have flexibility there as well and now the tax rate is applied here and we get this and let me change this to amount after tax even if you show amount after tax the tax is separately calculated here i just wanted to show you that so the subtotal is without the tax and then the tax is separately shown here subtotal plus tax will be automatically calculated here now if i want to do any discounts amount so let's say i want to do 44 dollars of discount then i can do that here if instead i don't want to do a discount amount i want to do a discount percentage um just generally discount percentage you need to enter them in decimal so i can do 0.1 for 10 but how do i make that percent applicable so i just change this and now it's applying 10 discount it automatically will calculate for us and it'll calculate the final invoice total and this is how the template will automate a lot of the calculations for you and it'll still give you the flexibility to change the tax rate for each invoice you can apply discount at each invoice differently discount percent or discount amount so now all of this is you know pretty straightforward now if in case you want to change the if in case you want instead of the description i can change this to name and i can change this to unit so basically your invoice columns are flexible one additional one um change that i want to highlight here is if in in your business you don't manage the asset identification by numbers or ids if you do it by name of the asset that's still fine you can just now change i want to give my name as my input to the to the invoice and then now i can change this to description and now it becomes name as my entry description automatically calculated great so a lot more flexibility i understand that different businesses you know manage assets differently so we want to make sure that this is actually meeting a lot of people's needs so look forward to your feedback if this is actually helpful or not so now that we have created our first invoice now let me talk about how do you create more invoices with this template so there are two ways one is you can save this file now as invoice1234 and that's an excel file and now then you can change the data here from one two three four to four five six seven eight and then you then save it again as a new file so every invoice you can save it as a separate excel file so that's one approach the other approach would be to make a copy of the sheet so i'll show you how so you can go and make more copy create a copy so now it actually created a copy so when you make a copy there is an option to say move to end i should have done that but you can choose move to end it'll automatically create it to the end so i will rename this as 5 6 7 8 invoice because that's what i'm going to create and my previous one as 1 2 3 4. so now i have two invoices and i can now go ahead and enter my details for my second invoice maybe this is for a different customer and maybe this is for a different rent out date and the payment due date could be different and then the items could be different so i can choose nikon i can choose sony so basically you now enter the details of the new invoice and then you can apply a different discount percent different tax rate if needed different message to the customer whatever so everything is now for a new for a new invoice now in the same excel file you have two invoices one two three four five six seven eight if i want to now create my third i go more copy create a copy and now so now i'm gonna go and click on this it'll say asset choice already exists and now i'm going to say yes to all and now i've created a new one so now i can go in and now rename this as 9 1 2 3 whatever my invoice number is i'm just making all this up but you will you can use a a sequential number like invoice one invoice two invoice three um so that you have a sequence that you can maintain so now i can come in here and then change this and now i can go in here and then say this is for only you know one asset that i'm renting in this no problem and i can choose this to be the third customer in my list and there we have it now we have created three invoices all within the same excel file and after a certain period of time after you create like i don't know a lot of them then maybe you can archive the file and start new with the new version so that you always have manageable data in one excel file but this is how you can create multiple invoices in one single file now let's talk about how you can create receipts for receipts you can go in and say let's say the customer in the first invoice now has made a payment now i can come in here i choose this to receipt now immediately the receipt the paid symbol will come up here because the customer has made the payment that's the assumption here you can now see there are two additional fields that popped up i can enter my payment date so i can say the customer made payment on you know feb 26 and then the customer paid using credit card and so now we have actually are ready to print this receipt and you can now issue this receipt to your customer so now the same sheet which served as an invoice now can serve as a receipt that you can issue and you don't have to re-enter all the data again so now that's how you can create an invoice and receipt within the same file for any number of invoices and receipts now let's talk about how do you manage these invoices and receipts in in your for record keeping right i strongly recommend that whenever you issue an invoice so you can issue an invoice by sending a pdf to your customers by email how do you create an um so excel allows you to create a pdf so you can go to file export and now you'll see that you have an option to create a pdf so when you create a pdf and store it in your in your computer or in a cloud drive like one drive or dropbox or anywhere you're basically storing the file as pdf and you're emailing that to your customer that is the copy or the record the file on record you want to store those and make sure that you are it's easily accessible and that's the way you have a record apart from just the excel file it's strongly recommended that you have a pdf version when you create the pdf name it with your invoice number and then you say invoice1234 receipt1234 so you have those files available in case you need it later so that's how i would recommend you to keep record of all of them you can always also print these excel allows you to just go to print and you will see that the invoice will appear like this you can print it and if in case you need to store the paper version of it you can if you have to mail or send a letter of this to your customer you can then put in an envelope and mail them those are options uh if in case that's how you manage in your business those options are also available now finally i want to go back to some of the limitations of the template the limitations are there are only 20 lines available in each invoice so if you have more than 20 items 20 different different assets that you rent out in one invoice i think we need to extend it further that would require some customization if in case um in your business you don't rent assets on a daily basis you and rent it at the hourly level for example uh you will rent for five hours or two hours and then you charge them per hour then this template wouldn't fit nicely for that situation so we'll be coming up with a new template that'll handle hourly rental but this would be up this template is useful where you're renting for days one day two days or any number of days if you're renting out daily uh and charging the customer per day that's when this template is applicable so that's a limitation as well i hope that this template is useful um to help with your business to create invoices and receipts we really look forward to your feedback on how this is useful or if this is useful and other suggestions to make it more useful so that we can continue to develop solutions that will actually address business needs you can download this template for free from insara.com and if you have any feedback or questions please put them in the comments and share with your friends as well and i will see you all in the next video thank you very much for watching