Printable Proforma Invoice Templates (Excel / Word)

A Proforma invoice template is an effective tool used to establish the scope of work and expectations between the business owners and customers. This preliminary invoice states the work that will be done and the cost of an order. Moreover, it includes additional charges such as applicable taxes and fees.

The benefits of a Proforma invoice:

Let us discuss below the benefits of a Proforma invoice;

Clarity

A proforma invoice eliminates confusion or misunderstanding between the seller and the buyer by establishing what is being sold and when.

Accuracy

With the help of an invoice, everyone will get the opportunity to review and agree on all terms of the order.

Streamlining

After completing the project, you can convert your pro forma invoice into a final invoice. This saves you time.

Professionalism

When you send a proforma invoice, this indicates that your customers are feeling comfortable and agree to the terms of the work.

Smoother transactions

A pro forma invoice sets you up for a smoother payment process as all the terms have already been agreed upon. In the case of international orders, this document advances the customs process.

Remember that this invoice acts as an estimate so you can’t use it for tax or accounting purposes.

Who is responsible for preparing a proforma invoice?

The entity that is supplying the goods or service prepares the pro forma invoice after discussing the order and agreeing on details. After that, they share it with their customers. After receiving the invoice, the customer either accepts the terms or negotiates new terms. The work can start when the terms are agreed upon by all parties.

Which industries use proforma invoices?

There are various industries that use proforma invoices to give their buyers an estimate of the cost before completing their orders. These are as follows;

Construction

They use it to specify material and labor costs so that all involved parties of the project are aware of the costs upfront.

Consulting

A proforma invoice is used by the consultants to estimate the scope and cost of their work for the customers before starting their work.

Contracting

Contractors use proforma invoices to estimate the labor, materials, and timelines for their customers before any work starts.

Freelancing

Freelancers use it to provide their customers with estimates of costs and timing ahead of time. Once the project is completed, they can easily convert the document into a final invoice.

What to include in a proforma invoice?

You should include the following details in a proforma invoice;

• The title ‘proforma invoice’
• The invoice creation date
• The invoice expiration date
• The buyer’s details (billing and shipping addresses and contact number)
• The seller’s details (company name, address, and contact number)
• The terms of payment
• The product or service being offered
• The quantity
• Delivery date
• Cost per item
• Discounts
• Any additional charges
• The total price

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