Found a very good article on creating word document template for Dynamics CRM 2016 and just experienced the cool feature in CRM 2016 Online, provided from Dynamics CRM team.
Using document templates, users can generate standardized documents with data in CRM. Also Excel document templates can be created under document templates.
Here’s the link to the article;
https://www.microsoft.com/en-us/dynamics/crm-customer-center/using-word-templates-in-crm.aspx
C R M F o r t r e s s | Indika's Dynamics 365 CE Blog 