Contractor Invoice Template (Free) Excel
An Excel contractor invoice turns hours, rates, markup, and draws into totals that calculate themselves. It is the natural fit for time-and-materials jobs where the owner wants every hour and every material dollar visible. Start with the free invoice template for contractors to set your line structure, then mirror the formulas in your workbook.
Get the free contractor invoice Excel layout
Use the browser generator to validate your numbers and line structure, then build the same columns in Excel with live formulas.
Why Excel wins for time-and-materials billing
Contractors on cost-plus or time-and-materials contracts live in Excel because the invoice is a calculation, not a document. Hours × rate per line, materials with a markup cell, subs as fixed lines, and a draw column — change one rate and the whole invoice updates. That live math is exactly what an owner's accountant expects when they audit a draw.
Excel also scales across projects. Keep one sheet per job (or per draw) and a summary sheet that rolls up what is billed, what is collected, and what is still outstanding. For a crew running three or four jobs at once, that single workbook replaces a drawer full of paper invoices and a Friday-night spreadsheet scramble.
The discipline that keeps Excel invoices honest: never hide markup inside a materials line. Keep materials, markup %, subs, permits, and change orders in separate columns, and let the formulas do the adding. Owners approve draws faster when the columns they can verify match the columns they were promised.
Excel columns for a contractor draw
| Column | Formula / purpose |
|---|---|
| Line item | Labor, subs, materials, permits, change orders — one row each |
| Qty & Rate | =Qty*Rate per row; hours or units depending on the line |
| Materials markup % | =Materials_total * markup_cell; show as its own row |
| Change order total | Row per approved change with CO number and date in the notes |
| Deposit received | Negative row or separate column to reduce the balance |
| Draw stage | 50/40/10 or 30/30/30/10 label so the current draw is obvious |
| Late interest | =Balance * monthly_rate for overdue commercial invoices |
Real scenario: commercial office fit-out, T&M billing
A contractor bills a four-week office fit-out on time and materials. The second draw after framing and rough-in looks like this in the spreadsheet:
| Line | Qty | Rate | Amount |
|---|---|---|---|
| Framing labor (per hour) | 48 | $65 | $3,120.00 |
| Sub — drywall rough (per job) | 1 | $2,400 | $2,400.00 |
| Sub — electrical (per job) | 1 | $1,850 | $1,850.00 |
| Materials — lumber, steel studs | 1 | $3,680 | $3,680.00 |
| Materials markup 15% | 1 | $552 | $552.00 |
| Permit fees (pass-through) | 1 | $310 | $310.00 |
| Change order CO-007 — add outlet runs | 1 | $480 | $480.00 |
Total $12,392.00. Deposit collected at signing $5,000, leaving a draw balance of $7,392.00, Net 10. One workbook sheet per draw keeps the audit trail clean when the owner's accountant asks for the detail.
How to set up the Excel invoice
Build the columns
Description, Qty, Rate, Amount (=Qty*Rate), plus markup %, deposit, and draw-stage columns.
Add the summary block
Subtotal =SUM(Amount), plus markup, tax, deposit, and balance rows with live formulas.
Export the draw
Print to PDF or save a copy per draw so the owner receives a locked document with today's numbers.
Contractor invoice Excel questions
How do the Excel formulas work on a contractor invoice?
Each line multiplies Qty by Rate; the subtotal sums all lines; then markup, tax, deposit, and discount are applied. Change the rates or quantities and every total recalculates instantly.
How do I track multiple projects in one Excel workbook?
Use one sheet per project or per draw, plus a summary sheet that sums outstanding balances. Keep the same columns on every sheet so the summary formulas can reference them consistently.
How do I add a materials markup percentage in Excel?
Put the markup rate in its own cell, then reference it: =materials_total * markup_rate. Showing markup as a separate line keeps owners comfortable that the math is transparent.
Can Excel track milestone draws and deposits?
Yes. Add a draw-stage column (50/40/10 or 30/30/30/10), a deposit column, and a balance column. The balance equals total less deposits received, which is what you actually collect on each draw.
Is this contractor invoice Excel template really free?
Yes. No account, no signup, no export limit. You can replicate the same formulas in any spreadsheet, or use the free browser generator to check totals instantly.