Examples of Invoices for Services Rendered for Inventory that Streamline Your Business

Examples of invoices for services rendered for Inventory

hello in this video I'll go through the inventory and service template now this template is designed for businesses that offer services and also sell physical products now in the screen I'm open up the template and it's powered at Microsoft Excel so you need to have Microsoft Excel a version from 2013 installed on your computer once you open up the document you arrive at a dashboard and this holds three thumbnails to navigate to the three major sections of the template we have the product section where you add new products and/or services the sales section where you enter your daily sales and the report section where you can generate multiple automatically generated reports now in this video I'm good to go to all the sections starting with the first which is the products to open a particular section you simply click on the button notice as I click on products it takes me to that section of the template so now we're in the product section now all sections in this template have an identical formatting in the upper left hand corner we have the section title and this tells the user at any point in time the section you're on so notice it says product information so you know this is where you list all the products that you sell so the right of this we have three buttons to add a new products to delete an existing product and to navigate to the service section where you can add the services that you render about the three buttons here we have our navigation pane and this holds several buttons to navigate to other sections of the template each label represents a button you simply click for instance dashboard and it takes you to that section of the template recall we then clicked on products so each label represents a button to navigate to a particular section of the template below the three buttons here we have our data table and this is where all products will be listed at the top we have our column headers some of the values will be supplied manually by you and others will be automatically generated by the template to add a new product you simply click on the add new button at the top and this pops up an Excel form Excel form provide a simpler way to store data to this table here the user has to supply only the product name and an optional description so let's assume that I sell laptops and I equally software like Microsoft Office Adobe Photoshop Illustrator and all of that so my product to be the laptops that I sell so I go ahead and list my first laptop I can go ahead and add an optional description I'm just gonna write down laptop this is optional you can go ahead and leave this field blank once you don't applying the two values you go ahead and click enter and it's going to store that laptop to the database to add another product you repeat the process you click on add new so it pops up the same form you go ahead and enter the product name and an optional description so let's assume the second product is a Lenovo laptop I'm going to leave the description field blank and click enter to store the second product so now we should have two rows the first row representing the first products we added the Dell laptop the second row represents in the second product the Lenovo laptop so you simply repeat this process add in all products that you sell you click the add new button pops up a form supply the name and optional description click enter to store it next we cover how you delete an existing product to do so you simply need to first click on the part off you want to delete so let's say you might want to delete the Dell laptop it simply click on the product name you notice the border around the cell then I click on the delete roll button once I do I get a confirmation message asking if I want to delete this product and also telling me the name of the product if I do I click yes if I don't I click no so that's how you add new product and delete existing products next we're going to cover how you add services that you render to do that you make use of the add service button and this takes us to the service section of the template you notice it has a similar format in the title and the upper-left so the rights we have a button to delete an existing service above we have our navigation pane and below we have the table where you could enlist all the services you render you simply have to supply the service name and a service amount so to add our first service I simply click on the field below service may type the service once I'm done typing the service I make use of the tab key on my keyboard to move to the next field where I answer the service amounts so how much do I charge with this installation let's assume that I charge 70,000 to add another service I simply click on the cell below my last entry enter the service name press the tab key to move to the next field and enter the amount I'd charge for this installation repeats in the process again this is office 365 this is a monthly subscription to let's assume we charge 5,000 for the subscription on the monthly basis so these are the three services that I render you click on the cell beneath double click type the service name and then you type the respective amount so that's a summary of how the section works you just simply list all the services that you render so delete simply click on the cell you want to delete click on delete click on yes and you notice that that row is deleted so that's a summary of the service section we've equally covered the product section add in deleting and adding services now we move along to the expert section we're going to enter the stored in quantities of the two products we have here so let's assume they in our store as at today the first day that I'm using the template I have 10 Dell laptops and 5 lenovo laptops so to document that that's to increase the balance in stock and make use of the expense section of the template so once I click on expenses it takes me to that section of the template this is where you document all of your business expenses now we have two types of expenses we have the direct expenses and the indirect now direct expenses are all costs that are linked or directly linked with the products you sell or the services you render and indirect costs are your overhead like transportation salaries advertising and so on now you document both direct and indirect cost in this section you notice it has a similar formatting the label and upper-left for buttons on the rights to add a purchase at a product restock pay your suppliers delete expenses above we have our navigation pane below we have our table where all expenses will be listed now depending on the type of expense you want to add you can make use of either the first button or the second button so for the first example we are adding our starting quantities for the two products we have $10 laptops 5 Lenovo so that means we make use of the second button because we're adding product we stock where we stock in the part that we have now once you click on the second button it pops up a form by default Excel enters today's dates but you can modify the day the month or the year you can only enter current and past transactions you can't enter future transactions now I'm going to back dates because I purchased this I already have the product so let's assume I purchased it on the first day of November so one for the month day 11 for the months now the format's of the dates depend on the settings on your computer mine is day month year kindly check yours if it's month day year before using the template next you negate the status of the purchase if you pay for it up front or did you purchase it on credits now for this first example I'm going to make it paid later on in the video when I add suppliers I'm going to demonstrate the credit functionality making use of my tab key to move to the next field I select the part of me now this is going to list all products in my database if I have 20 products the 20 products are going to be listed here let's go ahead and select the first product next I enter the unit price so how much did I buy 1 units of this product so that's 450,000 I currently have 10 units the template will automatically calculate the total now there are two types of totals that the template can support it helps you also calculate your input tax so it's using the default 5% for your input tax so if the supplier charged you 5% input tax kindly enter the total under total with tax however if there's no tax kindly leave it on the total without tax so which I assume that there's no tax associated with this transaction so I'm going to leave the total there next time we enter the selling price so how much am i selling one units of this laptop to my customers you would make that 470 and I'm going to need a supplier field blank because I've not added any suppliers to my database once I'm done I click on enter and it's going to store in this transaction to my database so now I've told the template that I have 10 units of this product and this is the day that I made the purchase so now if I go back to my product section we should see that the formula generated fields have been automatically updated my balance has increased to 10 the purchase date as my most recent purchase date is November 1st the most recent cost prices for FFP and the most recent selling prices 4:17 so these fields are dynamic they would automatically update as you add additional purchases I'm going to repeat the process for the second product but before I do that I want to make this a credit transaction we're to go ahead and add a supplier to my database so going to the reports section you notice the first Button says suppliers so with a click to add a new supplier and it works exactly the same way as a service section I simply double click enter the supplier name you can call this Mike computers now you can be as descriptive with the name is generic next you indicate the address if you have it the phone number and the email address the template automatically calculates the outstanding if you all make any amount of money so right now we don't know Mike anything so notice that the amount old cells 0 so I'm going to go to the excellent section I'm going to add the second product restock print it equally back date to the first day in November going to enter credit transaction select the product the unit price of 150 quantity or 5 no tax inclusive and the selling price of 170 now if I attempt to click on enter without entering the supplier the template is not going to allow me to enter the transaction because has been set in such a way that all credit transactions should have a supplier that's the only way the template can track who your own money so you must enter supplier whenever you indicate that the transaction is credits and that's why I added a supplier first so you notice my computers is here I can go ahead and select Mike click enter now it's accepts that transaction so you notice the second transaction here and now it's under the total credits column so the first is paid the second is on credits and now if we go back to the supplier section we should see that we're owning Mike a total of seven hundred and fifty thousand so going to reports going to suppliers you notice the outstanding has been automatically increased to 750 thousand so that's how dynamic the template is to automatically increase the outstanding and when you pay my kids will automatically reduce this amount so we're back to the expense section let's assume that I paid 50% on the same day so I simply click on payments I answered a date I made the payments I select the suppliers we have only one Mike and once I do the template automatically tell me how much I owe Mike so 750 thousand balance to be paid so let's assume I paid 300 thousand from this amount so a bit over a bit less than 50% once I click enter that sample is going to store it out payments and now if we go back to the supplier section we should see that the outstanding balance should now be 450 instead of 750 because we've indicated a payments for Mike computers so going to the report section clicking on suppliers you should see the balance is now four hundred and fifty thousand so the template enables you track your creditors at any point in time and in the same way to go to the products section we should see that Lenovo laptop has increased by five units so going to the products section we should now see five units on their balance in stock you equally notice that the template has updated the last three columns the most recent purchase date cost price and selling price now the advantage of the last three columns is that in enables you see point in time information once you open the template at a glance you know the most recent price in which you purchased each units of the products you sell and the most recent dates that you purchased it from the supplier now that covers the second button in the expense section this is to be used whenever you buy additional units of the products that you sell you simply click on the button in the case if you paid or it's on credits select the product and then enter all of our values now every other expense should be entered using the first button add purchase now this is used to enter direct expenses and indirect expenses now direct expenses here will be your cost of service recall I said that this template enables you to track revenue from services rendered and revenue from product sale sold so in the expert type this is a drop-down list and you notice we have several categories now cost of service refers to direct costs associated with the services you render now let me give a practical example so let's assume that I'm a painter so I paint for a living if I get a job to painted three bedroom apartments to be able to deliver that service first of all I need to buy the gallons of paints so my cost of service would be or each gallon of paint that I have to buy transportation to the venue to paint the house those would be cost of service using the example in this template recall that the services I render is installation or for example Microsoft Office packages now the cost of service here would be the costs that I incur to purchase the software from Microsoft before I can it on your computer because I don't manufacture these products I need to purchase at first from Microsoft then it on your computer so that would be a cost of service so depending on your business you know that what falls under your cost of service and what falls under your indirect expenses now indirect expenses are things like advertising rent salaries and so on these are cost that you have to pay every month regardless of whether someone places an order or not so even if the all of this month I don't get any order I still need to pee myself salary I still need to do a bit of advertising I send it to pay my office friends with these are indirect expenses from advertising all the way down it's only the first which is the cost of service that is a direct cost now this form works just like the other forms you indicate the dates which back date is to the 1st of December indicate paid so less as you might get some advertising on Facebook for my installation and since this is advertising that means this is an indirect cost and less as you might spend 10,000 and I'm going to leave the supplier blank because this is a paid transaction so once I click enter is going to store that transaction there we go so that's the fourth expense and this is in a month of December so that's how you add your direct and your indirect expenses you simply indicate the category the status and then all the other values to add payments we've covered that II click the add payment button once you select the supplier December will tell you if you're owning that supplier and the exact amounts that you're owing so we're currently only this guy 450,000 to delete an existing expense you simply need to click on any cell in that row so I can click on the category cell click on delete I get a confirmation am I sure I want to delete the advertising if I do yes you notice it's going to automatically delete the fourth transaction there we go so we have only the product result and the want payments so that pretty much covers the expense section of the template next we move to the sales section where you document your income generating activities this is where you document all sales transactions so you notice the label at the top says sales information to the right of this we have five buttons to add a product sale to add a service to add payments when receipt from a customer to delete an existing sales transaction and to automatically create an invoice above this we have our navigation pane and below we have our table where all sales transactions will be listed now my first demonstration will be a product sale so I'll go ahead and click the first button pops up a form and before I do this first of all I'm going to add customers because the customer field notice is blank so it's always advisable that whenever you get an order first of all store the customer so the customer section then enter the sales transaction so going to my customer section it's like clicking on a label there here I go ahead and supply values pertaining to the customer this works exactly like the supplier section I entered a customer name the address if I know the customers address or this can be the business name you can pretty much use the fields as applicable the phone number and lastly the email address the template of a been automatically calculate the outstanding balance so it's going to tell you if rows random owes you any money right now she owes us nothing so we went back to the sales section clicking on add public sale first thing indicate the sales date now with the back date this to the first of December next I select the customer so you notice rules random is now listed here so as you add customers this drop-down lists to be automatically populated next I in the kids if you're random is buying it paying for it up front or if it's on credits and with make us a credit transaction let's assume that I charge $1,000 per delivery every order of flat rates then I select the product now this will list all products in my database the form supports entering up to ten transactions at a time so once I enter the product the template will also magically return the average cost price now the template uses the wizard average model in accounting so it will automatically calculate this average that's the sum of all your purchases part of purchases divided by Kwanzaa - the sum of all you've sold two / quantities so that's going to give us the average weighted average next you indicate the quantity so how many units of this product is rolls random purchasing and the selling price is automatically returned based on information you entered in the expense section so let's assume she's purchasing one unit then the moment I press the tab key example to automatically multiply the two to arrive at the total amounts secretly going to tell me the balance that's how many units of Dell laptops to have in my store at the top and to calculate a 5% of that and a total price now if you don't charge that you can replace this with zero so you can always replace the value that is automatically calculated by the template but if you want the bat's back simply reenter the quantity and it automatically updates that let's assume she's purchasing the second laptop you notice the moment I select the laptop example to return the average cost price the balance I have in my store and the most recent selling price I can go ahead and enter the quantity she's purchasing and the temple to automatically calculate the total price now the total at the top is the sum total of each line item so nine forty plus one seventy thousand gives us a bit over 1.1 million the VAT is 5% of the total amounts as I said this can always be replaced with zero once you're done you go ahead and click enter and it's going to store the transaction so you notice we have two rows each row for each product you're both credit transactions so they're listed under the credits column and if I scroll to the right the temple automatically tell you the cost price so at a glance you already know this is the average cost price weighted average and this is the amount that I sold it for so for this transaction I know I made a profit of 40,000 what is a difference rather not profit per sale is a difference of two thousand two thousand and if there's fats to be automatically entered here but recall I replace the best value with zero so that's how you add product sales and if we go to the customer section now we should see that rose random owns us the sum total of this plus the delivery cost going to customers you notice as an outstanding of a bit over 1 million so that's how the template automatically calculates be outstanding for customers so 940 plus 1 17th was 1000 you notice at the bottom of the screen it tells us it's 1 million one hundred and eleven thousand Mara now next I'm going to demonstrate a service transaction repeat the process click on add service enter the transaction date and with me through the second of December this is going to be paid which is select random and let's assume that I installed Microsoft Excel 2013 now once I select this the template automatically returned the price I entered in the service section now calculate the 5% of that if I'm not charging tax that can replace this with zero is there a delivery fee if there's none I leave that simply click on enter and it's going to store that service transaction so now I've indicated three transactions for the same customer but on different days so you notice this is under the paid column because it's paid this is the service now let's say today we'll run down watch the payment I simply make use of the add payment button once I select rows random the template will tell me the total amount that was random owes me let's assume she's paying 1 million once I click enter it's going to store that as a customer opinions so you notice under product name tells me this is a customer payments this is the customer that's pain this is the amount has been paid and it's automatically reflects and the outstanding you notice has reduced now to just a bit over a hundred thousand so that's how all sections are interconnected you can add a product sale you can add services rendered now to delete what's the same way simply click on any cell for instance the second cell the second of December transaction excuse me click on delete it's meant to ask you if you want to delete your click yes it's going to delete that installation package lastly to create an invoice all you need to do is the same thing simply select the customer name so if I want to create an invoice for the transaction on the 1st of December recall the two products that we purchased I simply click on only the customer name click on generate invoice and it's automatically create an invoice combining the two products together there we go so this is the invoice is automatically returned a customer's phone number email and address for you the invoice dates and these are the two products that will just the quantity unit total price has floats at the bottom the vats at zero because we entered 0 this is the subtotal there's a delivery of 1000 and this is the overall total which will automatically generate this for you you can go ahead and add any additional comments before you print this out and the bank details if you wanted to pay by bank transfer so that's how to automatically create an invoice in the same way found to create an invoice with the transaction of the second I simply click on a customer's name on that row click on generate invoice and you notice the same thing to return the contact information but this time around this Microsoft Excel installation 70,000 70,000 ok so that's how the template works as well traumatically generate an invoice for the selected transaction so that pretty much covers the sales section we've equally covered the customer section adding customers to add a new customer just click on their side the customers name for instance Jon random be address Houston Lagos the phone number and the email address and there we go it tells us John is owing us nothing and if I go back to the sales section and I click on products we should now see some customers so next we go to our reports section now the template automatically generates multiple reports the template automatically generates nine reports the first is not a report this is the section we use to add suppliers before so it works like the customer section this was when we added my computers but the remaining nine are automatically generated reports the first gives you a sales summary now little long as you use the template you have transactions across multiple months so right now these are all December but later on you're going to have January February and so many transactions so this section is going to be clustered now this report enables you filter the transactions for a particular month so once you click on it it will automatically refresh and at the top you have the option of selecting the year you want to see and the month you want to see so if you want to see only transactions for now we have only January let me just quickly add another demonstration or another transaction and because of service and I'm going to birthday to October just for demonstration purposes okay so I'm just going to enter that this she bots 2016 enter so now react transactions for two months for December and also for November so if I want to see transactions only for December and the sales report first I indicate the year so all my transactions are 2018 that's why we have only 2018 but under months here I now have the ability to select either January I mean December excuse me or November November December so if I click December it's going to hide the transaction in November that's the first transaction so you notice we just show me only the three transactions that are called in the month of December there we go in the same way if I select November it's going to show me only transactions that occurred in November 2018 so as we always recommend every month generate the report print it out and file it in your physical documentation so there we go so this enables you filter your sales per month per year and you can equally go a step further so if you want to do all sales transactions or all services transactions you can make use of one of the filters at the top so at the tops we have three excel slicers income name this way you can be able to see all transactions that fall in a particular category so if I want to see all customer payments I simply click on customer payments and is going to show me only customer payments which is only one if I want to see all sales of this laptop I click on it is when you show me only transactions that meets this laptop which is only one if I want to see all installations there we go so this enabled me filter by the income name and the values you are going to update as you add additional transactions if I want to see for everything I simply click on the funnel in the upper right hand corner once I click it's going to clear the filter and show me all transactions across all income types next I can filter by the title if I want to see all product sales I simply click on product sales and it's going to ID all services so you notice all the installations are going to be hidden only the two product sales if I want to see service as I simply click on services and it's going to add all the product sales and show me only the two installations so there we go two installations so this way I can play with my data and I can easily know the total amounts that I generated within a particular period for a particular income name income type in the same way if you want to see creditor paid transactions you can use the third filter so if you want to see all transactions that are credits simply click on credits and it's going to add all payments and if you want to see all transactions that were paid you simply click on paid and it's going to add all credit transactions ok so that way you have flexibility over your data you can filter by time period that's the year and months you can filter by the income type that's part of our services and you can equally filter by the payment type if it's credits or paid to see everything you simply click on the filter at the upper right hand corner of that slicer so once you click is going to filter and now show me all credits and all paid so credits and paid so that's the first report you can be able to see your monthly transactions for a particular period and you can filter it to your taste the next is the expense report works exactly the same way it enables you filter your expenses for a particular time frame so you can see all expenses in a particular month and you can even see across multiple ones but right now all our transactions are in November the same way you can see credit expenses paid expenses part of three stocks and on the right you can equally filter by suppliers you can see all transactions related to Mike simply click on Mike and to show you all transactions that you made with that supplier ok and to clear the filter in the upper right hand corner you always see this funnel you just click on the funnel it's going to clear the filter and show transactions across all suppliers the next report is the inventory report name this enables you see all products below it be balanced excuse me the balance and stock of all of your products so it's automatically refresh list all products you have with their respective balance and stop and then using the most recent prices when to calculate the value so you don't know the value of all inventory in your store there's a bit over 4 million and this is dynamic so if I make a sale this will also magically reduce if I restock this will automatically increase so at any point in time I can print this out maybe at the end of every month so that I know the balance closing balance at the end of the month and the money tree value the next report is the profit and loss statements now this is a self explanatory report it just enables you know the total amounts that you made on a monthly basis and it was all amount you spend on a monthly basis so it's made up of three categories and I'm going to scroll to the right because I want to see November and December transactions so it's made up of three categories the first category is going to tell you your income the total amount you made from products sold and services rendered cost of goods sold so what is the cost of the products that you sold what is the cost of the services that you rendered and lastly is going to show all of your expense categories so if you want to change any category we call that in the expense section when we click on add purchase your some categories here so if for instance you don't do any advertiser and then you want to remove advertising and replace with internet subscription all you need to do is in the profit and loss statements simply change the value here from advertising to Internet subscription and once you do if you go back to the expense section you notice that it will automatically update to Internet subscription so you can change your indirect expenses using the pocketing loss statements I'm going to go back to the profit and loss statement and I'm going to undo that modification returning it back to advertise it so it's gonna tell you the total across each category on a monthly basis the subtotal the net income which is the difference between your gross profits and your indirect expenses the total VAT for that month and the total delivery cost for that month just pull into the right there we go so we can see the values so in November we didn't sell any products we only offer the services and we made 19,000 in December Resort products over 1.1 million we equally offered services 7c this is the total to sum of the two this is the cost of what we sold so this is the products we saw this is the amount we spend to purchase what we sold so this is the actual gross profits we made which is the difference between the two and at the bottom we have the overall profit which is the difference between the indirect expenses those are delivery of 1,000 and here there's a tax as a VAT of the value-added tax of a bit over 4,000 and you can confirm that from your sales section so here this is a transaction in the delivery cost of 1000 I scroll to the right you notice that there's advanced payments of 4500 for the installation in the month of November now the next report is the customer report now sometimes you might want to see all transactions you've made with a particular customer so all you need to do here it works exactly the same way you simply select the customer at the top so if I want is the all transaction that I've made two rows I think all this is row so nothing will be filtered it's going to show me only transactions related to rows but the moment that select rows is going to return roses phone number email address and tell me if the Rose is owning me anything so at a glance I already know summary of roses financial information in terms of wash is only and also history of the transaction so this is what she has paid this is what she got some credits and a difference this is the outstanding that she's going so at a glance already have that information and we have only one customer that's why only Rose is listed when you have other customers you can select the other customers you can also filter by year and vitamins the next report is the creditor and adapters list now these are similar this shows you all suppliers that you owe and all customers that owe you money so once you click if there's any supplier you all it's going to be listed so you notice says there's only one supplier that you owe my computers and this is the amount you owe if you all 10 suppliers this is going to be 10 it's going to list each of the 10 suppliers and the amount you owe adds that today the same way the depth of the list is going to show all customers that all your money at the top retailers are number of customers that all you only want this is the customer and this is the amount that she owns you it 10 customers or you mr. Lu 10 is going to list the 10 customers with the respective amounts that they own you the key metric reports just enables you to see key matrix so for instance at the top here you can be able to know the total products you sold in a particular month now this is the current month so we're currently in December so this is for December next month this will automatically show you for January so current month and last month I dynamic it shows you for the current months which is December and then this would be for November the total revenue and the percentage grows in the same way it's going to tell you the top-selling category which is this laptop you sold to the top buying customer which is rose she has made further purchases and the topper of a new month which is December this is the month you made the most money this is equally dynamic as you add additional transactions this will change so you know right now this product is the one that selling the most this is the customer that's patronizing you the most and this is the month that you made the most money at the bottom we have a chart and this is going to show January up until December right now we have transactions only in November and December that's why we have only two disciplines the last report is our infantry alerts and they just enable you select particular quantity so for instance I can enter 10 and once I click refresh is going to show me all products in my inventory that have 10 units or less so these are the two products if I enter 5 here it's going to show me all products and my inventory that have 5 units or less if I enter 3 it's going to be blank because there's no product that has 3 units or less so to report enables you enter the upper limit so once you enter a particular quantity it's going to list any product that has a balance that's equal to the amount you specify that's the number or less so right now I entered 3 if I click refresh nothing is going to be shown but if I replace this with for instance 10 it's going to list any product that has 10 units or less so once I click refresh you should see the two products in our inventory so that's a summary of the products and service sample