A quotation format is a document that contains all the information that includes product name, amount, quantity, and other essential details. You can easily edit this document and can customize it as per your requirement.
How to make a quotation using quotation template?
You can easily create a quotation using Refrens quotation template, you just have to add some details on the template:
The name, address, logo, and other vendor details.
Same as vendor details add buyers' information.
Fill out the product or service name with a description.
Add quantity or hours worked with your price or hourly rate.
Clearly define the terms & conditions on the quotation.
Sign of an authorized person.
What must be included in a quotation template?
Quotation template must include:
Quotation at the top of the document.
Quotation number and date.
Logo of the company.
Seller details with all relevant information.
Buyer details with name and address, contact number.
Product name, quantity, and rate.
Terms and conditions.
Accepted mode of payments.
Can I customize the quotation format?
Yes, you can customize Refrens quotation template by adding the logo, custom fields and columns, or by hiding the irrelevant columns. You can also change the color of the quotation, add letterhead at the top of the quotation.
What are the different quotation formats?
Using our quotation template, you can create quotations in Excel and Word Format. Different types of templates include the freelance quote, service quote, price quote, business quote and construction quote templates.
A Quotation template is a blank format used by the vendors to outline the products or services they are going to offer to their clients at a specific price. Quotation plays a very important role as it is the first touchpoint of any business. Before sending the invoice, contract or agreement, it is the quotation that is sent by the vendor to grab the opportunity of getting work from the client, so having a great quotation template is necessary.
Why one should use a quotation template for the business?
A quotation is the first document accessed by your potential clients, so it becomes important for you to create a great-looking professional quotation. For example, Let's say a client wants a developer who can design and develop his website. So the client will start looking for developers.
Now, after doing some research or from any other references he gets the list of 5 vendors, and now one-by-one he explains the project to all vendors. And in return, he asks them to quote the price and the estimated time to complete the project.
He gets the quotation from all his vendors and chooses the one, who looks more professional, clean, budget worthy, and time-efficient.
So here in this case, on looking at the quotation, the client assigns the project to the vendor. So creating a professional and good-looking quotation is no more a choice. If you don't, then your competitors will take over you. So this is the reason you must use quotations for your business.
Not just using the quotation, but knowing the proper format of the quotation is also important which will be discussed in the next section. As soon as, the client accepts your quotation the first thing you should do is to sign a contract or use an escrow system just to safeguard your funds. Once the work is done and the project is reviewed by your client, send the invoice.
You don't have to create an invoice from scratch as you can use convert quotation to invoice features which will create the invoice with one click and make your invoicing easy and simpler.
In today's competitive world just creating a quotation is not enough to it is also important to know the proper format of the quotation before making one. So here is the list of elements you must have in your quotation-making process.
It is a good practice to add "Quotation" at the top of the document as a title.
Add a quotation number, so that when creating an invoice it can be used as a reference number.
Quotation date and due date.
Sellers company information with name, address, email, phone number, and all other relevant information.
Buyers information like name, address, email, and phone number.
Product or service name you are going to offer to the client.
After adding the name of the product, give a detailed description of the product so that it becomes easy for your client to understand.
Detailed breakdown of the amount as per the project so that you can client can analyze and compare it with others.
Total cost to complete the project.
Also mention on the quotation that pricing is not constant and it may vary depending on various factors.
Terms and conditions. Here you can add the terms related to the project like the payment mode you will accept or any other conditions.
Additional Notes: you can add extra notes if you want to like how many revisions you will provide in case of any changes needed by the client.
Using Refrens quotation format, you can easily start creating the quotation using the above blank format. Add all the essential elements in the quotation as mentioned above. If you want to add any additional information then you can easily use our custom column feature which helps you to add extra columns anywhere on the quotation.
Once the quotation is created, you can select a quotation template as per your need and can also change the color of your quotation. If you want a more professional-looking quotation then don't forget to add your company letterhead at the top of the quotation.
Once the template is customized, you can send the quotation directly to your potential client using Refrens emailing system. The advantage of using the mail here is you can track your quotation and can check whether the client has opened your quotation or not, same you can also schedule your quotation for a future date.
You can create quotations for clients, there are no restrictions for creating or adding the client. manage all your quotations, invoice, and can use proforma invoice templates, and other documents in one place.