AccountantFree Invoice Generator
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From
Bill To
| Description | Qty | Unit Price | Tax / Discount | Total |
|---|
Payment Terms & Notes
How the Invoice Generator Works
An invoice is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller has provided.
The Formulas
This tool performs mathematical calculations client-side based on the following equations for each row:
Row Discount = Row Subtotal × (Discount % / 100)
Row Taxable Amount = Row Subtotal − Row Discount
Row Tax = Row Taxable Amount × (Tax % / 100)
Row Total = Row Taxable Amount + Row Tax
The final Invoice Total is computed by aggregating these totals:
Total Discount = Σ(Row Discount)
Total Tax = Σ(Row Tax)
Grand Total = Invoice Subtotal − Total Discount + Total Tax
Worked Example
Let's assume you sell the following service to a client:
- Service: Web Development, 10 hours at $100/hr (Subtotal: $1,000)
- Discount: 5% standard client discount (Discount: $50, Taxable Subtotal: $950)
- Tax Rate: 8% state sales tax (Tax: $950 × 0.08 = $76)
- Total Due: $950 + $76 = $1,026
Assumptions & Limitations
This tool handles standard cash invoicing. It does not calculate compounding interest for overdue amounts automatically, support multi-currency formatting on a single invoice, or sync records directly to accounting software (like QuickBooks or Xero).