A quotation is an estimated cost of the products/services you're selling to your future/present customer.
During a sale, a customer may request for a note about the products or services you are planning to offer along with the prices and other terms of engagement. This has many names like "Proposal", Estimate", "Pro Forma Invoice" or a Quotation.
To access the Quotation list, go to:
Home > Selling > Sales > Quotation
A typical sales flow looks like:
A Quotation contains details about:
Tip: Images look great on Quotations. Make sure your items have an image attached.
Before creating and using a Quotation, it is advised that you create the following first:
You can also create a Quotation from an Opportunity shown as follows.
In this section there are four fields:
You can set the currency in which the quotation/sales order is to be sent. If you set a Pricing List, then the item prices will be fetched from that list. Ticking on Ignore Pricing Rule will ignore the Pricing Rules set in Accounts > Pricing Rule.
Read about Price Listsand Multi-Currency Transactionsto know more.
This table can be expanded by clicking on the inverted triangle present rightmost of the table.
The total quantity, rate, and net weight of all items will be shown below the item table. The rate shown here is pre-tax.
To add taxes to your Quotation, you can select a Sales Taxes and Charges Template or add the taxes manually in the Sales Taxes and Charges table.
The total taxes and charges will be displayed below the table. Clicking on Tax Breakup will show all the components and amounts.
To add taxes automatically via a Tax Category, visit this page.
A Shipping Rule helps set the cost of shipping an Item. The cost will usually increase with the distance of shipping. To know more, visit the Shipping Rule page.
Other than offering discount per item, you can add a discount to the whole quotation in this section. This discount could be based on the Grand Total i.e., post tax/charges or Net total i.e., pre tax/charges. The additional discount can be applied as a percentage or an amount.
Read Applying Discount for more details.
Sometimes payment is not done all at once. Depending on the agreement, half of the payment may be made before shipment and the other half after receiving the goods/services. You can add a Payment Terms template or add the terms manually in this section.
Read Payment Terms to know more.
In Sales/Purchase transactions there might be certain Terms and Conditions based on which the Supplier provides goods or services to the Customer. You can apply the Terms and Conditions to transactions to transactions and they will appear when printing the document. To know about Terms and Conditions, click here
You can print your quotation/sales order on your company's letterhead. Know more here.
'Group same items' will group the same items added multiple times in the items table. This can be seen when your print.
Quotations can also be titled as “Proforma Invoice” or “Proposal”. You can do this by selecting a Print Heading. To create new Print Headings go to: Home > Settings > Printing > Print Heading. Know more here.
Quotation is a “Submittable” transaction. When you click on Save, a draft is saved, on submitting, it is submitted permanently. Since you send this Quotation to your Customer or Lead, you must freeze it so that changes are not made after you send the Quotation.
On submitting, you can create a Sales Order or a Subscription from the Quotation using the Create button. In the Dashboard present on the top, you can go to the Sales Order linked with this Quotation. In case it didn't work out, you can set the Quotation as lost by clicking on the 'Set as Lost button'.