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In this MrExcel Netcast tutorial, Bill Jelen discusses customizing an invoice template obtained from Office Online. He reviews modifications made, including entering a state tax rate and adding formulas to automatically transfer the "Bill To" name from Column B to Column F, as this information is typically the same for both billing and shipping. After the adjustments, he demonstrates how to save the file as a template using the "File Save As" option, selecting the template format instead of the regular workbook format, which changes the navigation settings for the saving process. This streamlines the creation of new invoices for future use.