Introduction: Professional Quotations Made Simple
A price quote, sales quote, or service quote can serve as a binding agreement between a vendor and a customer to deliver products or services at a defined price. When accepted by the customer, this quote often converts into an invoice. If you seek a professional and straightforward way to create a price quote, our free Price Quote Template is the perfect tool.
Features of the Request for Quote Template
This free Price Quote Template shares similarities with our free invoice template, with a few essential modifications. It’s designed to capture unit costs and quantities accurately.
Quote Template Vs. Invoice Template
While they may appear similar, there are key distinctions between the quote template and the invoice template:
- Some labels have been altered from “invoice” to “quote.”
- We’ve incorporated a “New client discount” line to demonstrate how you may include discounts in your price quote.
- The Comments section has been transformed into a Terms and Conditions section with a space for the customer to sign, indicating their acceptance of the quote.
Key Differences Between a Price Quote and an Invoice
- Expiration Date: Quotes typically include an “Expiration Date” or “Valid Until Date” beyond which the quote is no longer valid.
- Label: To avoid confusion, quotes should be labeled “Quote,” not “Invoice.”
- Prepared By: As a quote is a tool for completing a sale, not a bill for an already completed sale, it should include the contact details of the person preparing it.
- Terms and Conditions: Instead of just payment terms found in an invoice, a quote may spell out more detailed terms and conditions.
- Customer Signature: While not always required, it’s common to have a place for the customer to sign their name indicating their acceptance of the quote, especially for higher-priced transactions.
Conclusion: Streamline Your Quotation Process
Our free Request for Quote Template in Excel helps you create precise, professional quotes, enhancing your relationship with your customers and potentially increasing your sales. Download it today and experience the difference.