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In this MrExcel Netcast episode, Bill Jelen discusses customizing an invoice template obtained from Office Online. He modified the template by entering his state tax rate and suggested a feature to automatically populate the "Bill To" and "Ship To" fields with the name entered in Column B. To streamline the process of creating new invoices, he plans to save the modified template not as a regular workbook but as a template. This allows for easier future access and creation of invoices using the customized format. The navigation adjusts automatically when saving as a template.