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What is a price quote?

A price quote is an agreement between a customer and a vendor to provide services and products at an agreed-upon price. Once a customer accepts a quote, it’s typically converted to an invoice.

What’s the difference between an invoice and a quote template?

A quote and an invoice are almost identical, save for a few slight changes. For instance, some labeling is changed from “quote” to “invoice.” In some examples, a discount line is added. Most companies use the same quote template for their invoices to keep things consistent.

When changing a quote to an invoice, the ‘notes’ area can be changed to ‘terms,’ with a line where the customer can sign to accept the quoted price. However, signature lines can be removed, and it’s easy for companies to add unique terms and conditions.

How do I send a price quote?

Most price quote-related interactions happen via email, where a customer receives a PDF version of the quote. It’s important that you don’t send customers the Excel/Sheets file used to create the quote. The editable quote template is yours to use. So, instead, make a PDF version of the quote and send that.

If you use our estimate generator, you can easily save your quotes as PDFs. If you prefer to use the quote templates provided here, both Google Sheets and newer versions of Excel allow you to ‘export’ or ‘download as’ a PDF.

Our online templates make it easy for small businesses to send invoices and quotes. You’ll find easy-to-use templates that will give even the smallest company a polished, professional look.

When should I send a price quote to a customer?

It’s always best to send out estimates as soon as possible. A customer that’s asking for prices may be inquiring with different suppliers at the same time. If you give your quote ASAP, you won’t miss your window, showing you know what you’re doing. You’ve opened the file as a Google Doc or Google Sheet.

Can I use the Invoice Simple mobile app to make and send quote templates?

You’ve most likely heard of both a quote and an estimate. But what’s the difference between the two? And which should you use? A quote or an estimate?

There’s only a slight difference between quotes and estimates:

  • A quote means the cost is agreed upon, and work can begin.
  • An estimate is a preliminary document that outlines the work and approximate cost.

Prices given in quotes are binding, whereas prices in estimates are not. Which you use—quote or estimate—depends on your industry and the type of work you do. A photographer may provide a quote on a wedding shoot with a fixed price, while a contractor may provide an estimate on a bathroom remodel that may change over time.

Because quotes are more binding, they can easily be transformed into a final invoice.

Are there other file formats for quote templates?

Check out our main estimate template page if you’re looking for formats other than Excel or Google sheets. We’ve got Word and Google Doc versions there too. We also offer templates for some of the documents you’ll need further down the line on our invoice template page and our receipt template page.

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