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In this MrExcel Netcast, Bill Jelen discusses customizing an invoice template obtained from Office Online. He explains how to modify it by entering his state's tax rate and implementing simple formulas to automatically populate the "Bill To" and "Ship To" fields, as they often contain the same information. Jelen emphasizes the need to create new invoices easily and describes the process of saving the modified document. Instead of the usual workbook format, he demonstrates how to use the "File Save As" option to save the document as a template, streamlining future invoice creation.