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In this MrExcel Netcast, Bill Jelen discusses customizing a free invoice template sourced from Office Online. He mentions adjusting the template by inputting his state's tax rate and implementing formulas to ensure that the "Bill To" and "Ship To" names automatically populate in the designated columns. Jelen emphasizes the goal of making the invoice creation process more efficient. Instead of saving the document in the usual format, he explains the steps to save it as a template, highlighting the changes in navigation that occur upon selecting the template option. This allows for easier access and usage for future invoices.