This Google Sheet is developed as a solution to keep track of the sales invoices and payments made by customers in one place. You can enter payments made by customers and let the template calculate outstanding balance amounts.
Features of Invoice Tracker Template:
- Track all invoices in one place
- Identify which invoices are past due and how late they are
- Calculate how much amount is outstanding
- Calculate expected payments in immediate future
- Easy to identify due amounts by Customer
- Simple and easy to use
How to Use the Invoice Tracker Google Sheets Template
Steps to use this template:
- Make a copy
- Enter Input Data
- View results in Dashboard
Step 1: Make a Copy of the sheet
Click on the link above and then make a copy of the sheet as shown in the screenshot below.
You can save the copy in your own google drive for your use. You can then share the copy with your colleagues to collaborate as needed.
Step 2: Enter Input Data
- Enter each invoice in the Invoice table beginning from row 15.
- Enter Invoice Number, Customer, Invoice Date, Due Date and Invoice Amount
- When Customer makes payment, enter it in Paid Amount column.
- Green colored columns have formulas. Do not edit.
Outstanding Amount: This is calculated as Invoice Amount – Paid Amount
Status: There are five possible values for Status.
- ‘ERROR”, when at least one of the fields Invoice Amount, Invoice Date, Due Date is left blank. Also, when Due Date < Invoice Date.
- PAID IN FULL: Outstanding Amount is 0
- CURRENT: If Outstanding Amount >0 and Due Date > Today (not due yet)
- DUE TODAY: If Outstanding Amount > 0 and Due Date = Today
- PAST DUE: If Outstanding Amount is 0 and Due Date = Today
- OVERPAID: If Outstanding Amount < 0 (i.e., Paid Amount is > Invoice Amount)
Note: Error rows are not used in calculation of metrics.
Rows with errors will be highlighted with a red Background color for your assistance.
Past Due Age: If the Status is ‘Past Due’, then this represents the aging bucket (1 – 30 Days, 31 – 60 Days, 61 – 90 Days, 91+ Days). Otherwise, it will be blank.
Selected: This will display 1 if the record (or row) is not filtered by the slicers.
Step 3: View results in Dashboard
The top of the Invoices sheet will present the summary in a dashboard as shown below. This will update instantly as you add more invoices to the table.
Let’s break it down in 3 sections.
Number of current (Due Date is in the future) invoices will be shown along with outstanding amount due.
Past Due Invoices:
Number of Past due (Due Date is in the Past ) invoices will be shown along with outstanding amount due. Accounts Receivable (A/R) aging breakdown is also provided.
Payments that are expected in the next 7 days (including today) and next 30 days (including today) will be displayed.
These metrics can be easily filtered using the Slicers provided.
The invoice table will be filtered as well. One can use this feature to easily target selective invoices. For example, click on Status = Past Due, to see only invoices that are past due.