Create invoice template
Create invoice template gives any business or freelancer a standard layout to bill for goods or services. It should include your legal name and address, the client’s details, a unique invoice number, date and due date, itemized lines (description, quantity, rate, amount), subtotal, tax if applicable, and total due. The IRS does not require a specific form but expects records that support income and deductions; keeping invoices for at least seven years is recommended.
Create invoice template Sample
Create invoice template
123 Business Street, City, Country
Phone: (123) 456-7890
Email: contact@company.com
Create invoice template
Bill To:
Client Name
Client Address
Client City, Country
Phone: (987) 654-3210
Email: client@example.com
Invoice #: 12345
Date: 2024-10-10
Due Date: 2024-11-10
| Item | Description | Qty | Price | Total |
|---|---|---|---|---|
| Service A | Itemized service or product | 1 | $100.00 | $100.00 |
| Service B | Additional line item | 2 | $50.00 | $100.00 |
| Subtotal | $200.00 | |||
| Tax (10%) | $20.00 | |||
| Total Due | $220.00 | |||
An invoice should include your business or name, the customer’s details, the date and invoice number, and a line-by-line breakdown of what was provided. Including payment terms—such as due on receipt, Net 15, or Net 30—helps you get paid on time and keeps records clear for taxes.
Supporting resources
| Resource | Type | Description |
|---|---|---|
| IRS record-keeping | Government | No pre-approved invoice form; invoices must accurately support reported income and deductions. Maintain records for at least 7 years for tax compliance. |
| Essential invoice elements | Checklist | Business and client names/addresses, the word “Invoice”, unique sequential number, invoice and due dates, line items (description, qty, price, total), subtotal, tax, total, and payment terms. |
| Stripe tax invoices guide | Industry guide | What to include on tax invoices for compliance and clear audit trail: identifiers, dates, line detail, and tax treatment. |
Frequently Asked Questions
- What must an invoice include for the IRS?
- The IRS doesn’t mandate a format but expects documentation that supports your income and expenses: who paid, for what, when, and how much. A clear invoice with parties, date, description, and amount satisfies that.
- Do I need to number invoices?
- Yes. Unique, sequential invoice numbers are standard practice and help with record-keeping, audits, and matching payments to jobs.
- How long should I keep invoices?
- Many advisors recommend at least 7 years to align with IRS examination periods and common statute-of-limitations rules.