Create a VM template using the Windows based (C#) Client?

Can the windows based client create VM templates?  I created a Windows Server 2012 R2 Standard VM and would like to use that as a template for all VMs that follow.  However, I haven't created the vCenter Server VM yet but would like to use the W2012R2 VM as its base.  I can't see how to do it with the client that I have.  If not a template, can I just duplicate the VM?  I don't want to have to use this first VM for vCenter Server and then have to create another one from scratch for use as the template.