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How to Manage Invoices and Receipts in Google Sheets

Is managing your invoices and receipts becoming a headache?

In this article, we’ll explore how to manage your invoices and receipts using Google Sheets effectively.

Whether you’re a freelancer, a small business owner, or just looking to organize your finances, Google Sheets offers a simple yet powerful solution to keep your financial records in order.

Managing Invoices

Step 1

Set up your invoice template with the following information: – Invoice Number, Date, Due Date, Client Name, Description, Quantity, Unit Price, Total, Status

Format the columns as needed, adjusting column widths and applying bold formatting to headers.

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Step 2

Start entering your invoice data row by row, filling in the details for each invoice.

Use formulas for calculations, such as multiplying Quantity by Unit Price to calculate Total.

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Step 3

Customize your sheets according to your needs.

You can set up conditional formatting for due dates, use the Sum Formula to calculate the total amount for all invoices, and track invoice status by using drop-down menus.

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Step 4

Share and collaborate on this Google Sheet with relevant team members and clients, granting them appropriate access permissions.

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Managing Receipts

Step 1

Create a new Google Sheets document with columns for Date, Merchant, Description, Category, and Amount.

Step 2

List the categories such as groceries, utilities, transportation, etc., making it easier to categorize expenses accurately.

Step 3

Scan or take photos of your physical receipts and upload them to Google Drive.

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Step 4

Utilize the “Insert > Image” feature in Google Sheets to link the receipts directly to your
Spreadsheet.

Or use the FileDrop addon to speed up things when you have more than one image. FileDrop can insert hundreds of photos at once when needed.

FileDrop Choosing Files

Receipt and OCR FileDrop

FileDrop has an Optical Character Recognition (OCR) feature that greatly aids in payslip management by automating the extraction of text from payslips, transforming it into editable and searchable data.

Step 1

Position your cursor over the designated cell within a column where you intend to insert the link to your receipt. Positioning the cursor

  • Open Google Sheets, click “Extensions – FileDrop – Start FileDrop.”
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Step 2

Click Extensions then FileDrop and Start FileDrop.

FileDrop

Step 3

Click “Choose Files” and click the image of the receipt that you want to input in your file, then click open.

FileDrop Choosing Files

Step 4Date, Merchant, Description, Category, and Amount.

After choosing the image of a receipt, click the first tool at the bottom to extract the text of the receipt.

Step 4

Double-check your files by clicking the link, then add as many links to the receipts as you want.

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Step 5

After extracting the text, select the cell where you wish to insert the OCR output.

Inserting OCR

Inserted OCR

Here is a video demo on how you can do that with any type of file in FileDrop

In Conclusion

Although keeping track of payslips, invoices, and receipts can be a difficult task, it can be made much easier with the right tools and techniques.

With Google Sheets, you can easily manage your finances by having access to a flexible platform for organizing and analyzing financial data.

You may improve your financial control and simplify your financial management procedures by putting this guide’s advice into practice.

See also How to do Bulk OCR – text extraction

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