A quote or proposal is a formal document that describes a set of goods or services offered within the total price of the work. A quote contains:
Quotes are provided by suppliers to potential buyers and can be created quickly and easily with quoting software.
You can create a quote in five easy steps.
The easiest way to begin is by choosing a predefined, professional-looking template that covers all the standard elements of a quote. You can find several free Microsoft Office templates here to help you get started.
You might be able to find a quote template specific to your industry. This template, for example, contains fields specific to construction work and this one is geared towards web design and development. By contrast, the following template might be more appropriate if you're selling physical goods and products.
If you're using quoting software, add your chosen template to your account and select it to create your new quote.
After you have selected a template, add your client's details. This includes information like the client's or business's name, address, phone number, and email address, as well as your point of contact’s name.
After adding client details, provide an itemized list of the services or goods you are providing, including:
You can also add the date of issue and a time frame for expected delivery in this section. This is important because quotes are often time-sensitive. You can insert something along the lines of "Valid for 30 days" and adjust the timeline based on continuing conversations with your client.
It might also be useful to separate labor and material costs, if applicable to your situation. You can also arrange these according to different stages of the project. A quote template specific to your industry will likely be organized in a way that makes sense for your business.
At the end of the itemized list, provide the following for all goods or services that you are quoting:
Including a "Terms and Conditions" section is useful for explicitly addressing unexpected variables, such as:
You can also specify what is not included in the scope of the project. For example, if you're a web developer, you may charge for the work of designing and building out a website, but leave copywriting as well as the selection of header images and other assets to your client.
Consider using this section as a way to highlight costs you will not be covering that the client will have to be responsible for once your contract ends, such as website hosting costs.
Insert any extra details that you think might be useful for recordkeeping, such as a section for the client's signature, any discount codes that have been used, or your sales tax number.
You can also add a section for notes. Here, you can add more information regarding timelines, highlight additional services or products offered by your company, summarize the project scope, and/or thank your client for their time and the opportunity to work with them.
A quote is provided to a potential buyer before the work is completed as a notice of how much the selected goods and services will cost. An invoice is a financial document requesting payment, provided once the work has been completed or reached an agreed-upon progress milestone.
An invoice also includes the dates when a set of services was completed or a product was sold, the exact amount owed by your client for each line item, and the total amount owed for all items.
Once you've given your client a price quote and they've agreed to it, it's time for the real work to begin. Accelo provides a One-Click Quote-To-Project Converter in a modern, cloud-based project management platform.
Creating professional, accurate, and comprehensive quotes is an important part of doing business. They communicate what your clients or customers can expect from you. It is critical that you take your time and ensure that all information provided in your quote is accurate. As a business owner, you do not want to promise something you cannot deliver, and quotes allow you to clearly define the scope of your offering.
Accelo's quoting software can help you create professional quotes quickly and with ease. The platform allows you to create, edit, customize, and track all your quotes all in one place, while Accelo’s Client Portal lets your clients view and electronically approve quotes.
Interested in learning more? Sign up for a free trial today.