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In this MrExcel Netcast episode, Bill Jelen discusses customizing a free invoice template downloaded from Office Online. He reviews the process of adding his state's tax rate and suggests improvements, like automatically populating the "Bill To" and "Ship To" fields with the name entered in column B. Bill demonstrates how to implement simple formulas for this functionality. He emphasizes the importance of creating new invoices easily and shows how to save the customized file as a template instead of a regular workbook using "File Save As." This approach enhances efficiency in generating invoices in the future.