Hiding specific fields is supported for all three document types - proposals, budgets, and invoices. Fields that will be available for hiding will depend on the document type.

In Settings - Document templates, these fields can now be hidden and you can decide which ones you wish to keep on the invoice.
To hide a field, simply click on the eye (👁️) icon

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​Proposals and budgets:
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Invoices:
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Let's take invoices as an example:

The default invoice template has the following fields visible on its Invoice PDF:

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Here is an example of how an invoice would look with only the description, amount, and grand total fields:

💡 Hiding fields works both on existing templates, as well as on new templates. Additionally, hiding fields is only supported on Standard and Elegant template designs.