The Quote Manager in can be used to create both quotes and estimates.
And you can base your quotes or estimates on job templates to streamline your quoting process even further.
Differences between quotes and estimates in business
A quote is the contractually agreed amount that the client will be invoiced for on the completion of the contractually agreed services detailed in the quote. When you accept a quote there is a legally binding contract in place for the service provider to do the specified work at that price, unless variations to the original quote are also agreed to.
An estimate gives more flexibility to charge on the actual time and costs than a quote. An estimate is a calculation of what the work is likely to cost based on past experience. The service provider is not legally bound by the estimate. However, customers should be able to rely on estimates as being a reasonable idea of what the work will cost.
Differences between quotes and estimates in
In the only difference between a quote and an estimate is the name, and whether you bill the client for a quoted amount or for actual time and costs. You can set them up and work with them in the same way.
You can convert a quote to an estimate, or an estimate to a quote.
You can also use a ‘for-internal-use-only’ estimate as a budget of what a job is expected to cost, and what it will be invoiced out for.
Optional tasks and costs in a quote or estimate
In you can add tasks and costs to a quote or estimate, and flag those tasks and costs as optional. When your client accepts the quote or estimate, they can decide whether or not to accept any optional tasks and costs in addition to the basic quote or estimate.
Working with quotes and estimates
- Create a quote or estimate
- Revise a quote or estimate
- Accept a quote or estimate
- Mark or unmark a quote or estimate as sent