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In this MrExcel Netcast, Bill Jelen discusses customizing a free invoice template obtained from Office Online. He modifies the template to include his state's tax rate and notes that the default settings do not automatically populate the "Bill To" and "Ship To" sections with the same name from column B. To resolve this, he plans to introduce simple formulas for better functionality. Finally, he explains how to save the customized invoice template, emphasizing that it should be saved as a template rather than a regular workbook, which modifies the navigation options in the saving process.