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In this episode of the MrExcel Netcast, Bill Jelen discusses customizing an invoice template obtained from Office Online. He mentions incorporating his state's tax rate and adding functionality to automatically display the name from column B in column F, reflecting common scenarios where the billing and shipping names are the same. To facilitate the creation of new invoices, Bill explains the process of saving the customized document as a template instead of a standard workbook. This saves time and ensures consistency in future invoices by allowing users to easily generate new ones based on the customized template settings.