What is a quote? How to prepare a quote?

A quote is an important part of a sales process. A clear, accurate, and easy to understand quotes serve as a good point for your commuincation with potential customers.

What is a quote?

A quote in sales is a formal document provided by a vendor to a prospective customer. It outlines the specific details of a proposed transaction, including the offered products or services, their quantity, pricing, terms and conditions, delivery schedules, and any additional relevant information.

This is an example of a quote:

check out this one about beg someone to do something .

When to send a quote?

Sending a quote is one of the first steps in a sales process. Quotes are typically generated in response to a customer's request for pricing. They serve as a crucial tool for both the customer and the seller to establish a mutual understanding of the expected transaction and facilitate the decision-making process. The price in the quote should not be changed; it's also possible that you specify some timeframe when the quote is valid.

What needs to be included in a quote?

A quote should include essential information that helps your customer decide on the offer. Some key elements are typically included in a sales quote:

1. Your company's name, logo, contact information, and the date the quote was created.

2. Customer information such as customer's name, address, and other contact details.

3. Quotation number, date and other related details.

4. The description and prices of the products and services. You can also add a discount to the pricing.

5. Validity period. Set a time limit for the quote's validity after which the prices and terms may be changed.

6. Terms and conditions that apply to the quote.

7. Contact information to encourage the customer to reach out with any questions or to proceed with the purchase.

What is the difference between a quote and a proforma invoice?

The main difference between a quote and a proforma invoice lies in their purpose and level of commitment.

A quote outlines the details of proposed products or services and also provides pricing, terms, and conditions. It serves as a formal offer to the customer but does not carry a legal obligation.

On the other hand, a proforma invoice is a more formal document that resembles a commercial invoice. It also includes detailed information about the products, however, a proforma invoice is considered a preliminary invoice that is sent to the customer before the actual sale takes place.

What is the difference between a quote and an estimate?

A quote is typically considered a more precise and definitive document compared to an estimate. A quote provides specific pricing and detailed information about the products or services, whereas an estimate is a more approximate calculation of potential costs.

The purpose of the issued document should be clear to the customer. If you issue an estimate you need to specify that the price may be changed.

Free quote and quotation template

Plumsail Documents provides many free quote templates. You can select a template depending on your needs.

Here is a list with only some of the quote examples.

• Sales quote template. Automate your sales quoting. Generate from a template and send customized sales quotes directly to your customers.

• Product quote template. Use this product quote template to reply to your customer requests for quotes. It has all the necessary fields including discounts and tax. You can adjust it to your needs and requirements.

• Software quote template. Propose and sell software services with this software quotation template. It includes an introductory message and all other necessary fields such as service description, price estimation, target dates of completion, etc.

• Estimate invoice template. An estimate invoice is created to help you show your customers an amount you expect to charge for services or goods. Use this free invoice estimate to streamline the process of billing customers. You can edit the estimate bill template to meet your needs.

• Branding quotation template. Use this customize quotation free template for the provision of branding services. The template is ideal for small, medium, large businesses and marketing agencies. Create a necessary document for your business in DOCX or PDF format.

and many others…