What is actually a quote?
A quote is the precursor of an invoice, an important part of the tendering process. It is an offer for a product or service that the customer can use. Making a quotation is part of the day-to-day work within many disciplines, for example handymen who make a quotation for something to be refurbished. It is a business proposal that the customer can accept or reject.
The meaning of a quote
The definition is pretty simple. An offer is namely an offer, drawn up from a customer request, to conclude an agreement. This is therefore not the same as making an offer for the purchase of products or services that web shops or stores draw up on their own initiative. The offer can therefore be about a service or a product. Often a client requests multiple offers from different companies in order to be able to compare them with each other and to choose the best option.A quotation must contain the following items:
- A description of the products or activities to be delivered
- A price that is fixed or deductible and indicated whether it is inclusive or exclusive of VAT.
- Possible discounts
- A planning of the work and the conditions under which the planning is being achieved
- A final date of validity of the offer
- Terms and conditions of the quotation and / or a reference to the general conditions.
- A signature valid from the company
How do I create a quotation?Creating a quote is very simple. You can run a quotation independently with Microsoft Word or Excel, or use an online accounting program. It looks a bit like an invoice, but you only have to take the above points with you when making your offer. So also think about preconditions and validity of the quotation.
Example Invoice Office quotationInvoice Office offers a free accountancy program that makes it easy to create quotations . All documents, such as invoices, quotations and credit notes, meet the requirements of the tax authorities.
Are you curious about our accounting program and do you want to try it out? You can start today for free and immediately make your first quote.