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In this episode of the MrExcel Netcast, Bill Jelen discusses customizing an invoice template obtained from Office Online. He modifies the template to include his state's tax rate and suggests adding a simple formula to automatically populate the name in both the "Bill To" and "Ship To" fields, as they are often the same. To streamline the invoicing process for future use, he demonstrates how to save the modified template by selecting “File Save As” and choosing the template option instead of saving it as a workbook. This allows for easy creation of new invoices.