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Quotation Format

“Give me a quote. If I’m interested, I will get back to you” – a typical conversation between sellers and buyers or a business and its customers.

When a customer requests a quotation, also known as a quote, from a business, it means he/she is interested in the products/services but would like to know the estimated cost to make a purchase decision. The same customer can request quotations from multiple businesses for the same products and then finalise the quote offering better value.

What is a Quotation

A quotation, therefore, is a formal document provided by a seller to a buyer detailing the costs involved in purchasing specific products/services. A quotation is more formal than an estimate as it mentions all types of costs involved in the sale, including GST, discounts, shipping charges and so on, whereas an estimate shows only the major costs of the sale.

A quotation, however, is not a legally binding contract and is just for a mutual understanding between the two parties about the deal and its terms.

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As quotations are not legal documents of sale; no specific format has been prescribed. Businesses can generate quotations in their own formats, making sure all the details are covered. Once a deal is finalised, a quotation can be converted into an invoice.  Thereafter, the quotation holds no value in the books of accounting.

quotation format online

Free Quotation Format Online

Quotation Format – Details on the Template

Having a standard quotation format helps businesses save time, so they don’t have to search for a new format every time they generate a quotation. While creating a format, make sure all the details below are added to make it comprehensive.

  • Seller’s Company Name, Address, and Contact Details
  • Quotation Number
  • Buyer’s Name and Business Contact
  • Quotation Date
  • Item Details
    • Name
    • Quantity
    • Price
    • Discount
    • Tax (CGST/SGST)
    • Total Amount
  • Payment and Sale Terms and Conditions

A quotation looks almost similar to an invoice. However, the purpose for which both are used is different. If you’re creating a quotation online using billing software, it can be converted into an invoice once the buyer agrees to the deal.

Quotation Format in Word or Google Docs

Using MS Word is one of the easiest ways to create a quotation format in Word. Using the sample quotation format, you can create a similar one in a blank Word document. MS-Word also offers some pre-designed templates, which can also be used as a quotation format. Search for Invoice Format in Word; with slight changes, it can be converted into a quotation format in Word.

Another method is to create a quotation format in Word from scratch. Using the sample quote format provided above, open a blank Word document, create a similar document with your business details, and save it as quotation format in Word. Make sure to insert all the contents listed above.

Whenever you wish you generate a quote, open the quotation format in a Word document, make a copy of it, fill in the details, save it with a different name and use it. Make sure not to make any changes to the original quotation format in a Word document.

If you don’t have MS Word, you can follow a similar procedure to create a quotation format in Google Docs, which is a free source. All you need is a Google account to access G-Docs.

Quotation Format in Excel or Google Sheets

MS Excel has the edge over MS Word as it allows tables and formulas to auto-populate information. For instance, the total price of the products in a quotation can be auto-generated by inserting a formula. Similarly, an Excel sheet can automatically calculate the date, tax rate, discount, etc.

If you want to create a quotation format in Excel, you can do it in a blank Excel Sheet or search for some quotation or invoice templates, if available. You can use any sample quotation format as a reference to create a quotation format in Excel.

If you don’t have access to Excel, you can also use Google Sheets to create a quotation format in Google Sheets. It is a free source available to everyone having a G-mail account.

Quotation Format in PDF

To create a quotation format in PDF, you should first create a quotation format in Word or Excel using the above-mentioned details.

Once it is ready, you can download it as a PDF to view a quotation format in PDF. However, you cannot make any changes once the file is downloaded. Therefore, fill the quotation format in Word with all the required details, and once you’re sure that the data entered is correct, you can download it as a PDF.

One advantage of using PDF quotations is that the data cannot be edited or changed. Especially when sharing online, quotation format in PDF is safer than quotation formats in Word and Excel. However, any quotation format is fine when taking hard copies, i.e., as printouts.

Also Check Bill & Invoice Format

Use myBillBook Billing Software for Quotation Formats

Generate Quotation Formats Using Billing Software: All the safety and inconvenience concerns of online quotation generators can be eliminated by using reliable billing or accounting software. myBillBook is one such billing platform that provides free quotation formats, invoices, delivery challans, proforma invoices, and a lot more. Downlaod myBillBook now!

myBillBook provides the following benefits that would make your quotation format making easy and safe than ever.

Pre-defined Quotation Formats:

You don’t have to create a quotation format on your own. myBillBook offers more than 6 quotation formats allowing you to choose the one that closely represents your brand image.

Add/Remove Fields:

While using myBillBook’s templates, you can customise the quotation format by adding or removing information fields. Based on your business type, you can personalise the quotation format.

Print or Share Online:

Once you create a quotation using myBillBook, you will find various options to use it. You can download or print it as a hard copy or share it online through Whatsapp or SMS.

Convert Quotation into Invoice:

One more interesting feature of myBillBook accounting software is the ‘Convert to Invoice’ option. Once the buyer accepts the proposal mentioned in the quotation, it can be converted into an invoice in seconds. You can also make changes to the quotation format before converting it into an invoice. Thus created invoices can be shared both online and offline as per your requirement.

Reliable and safe:

Another important factor that makes myBillBook more reliable than any other online quotation generator is the safety and security of the information entered during the quotation generation process. All the information entered in myBillBook is end-to-end encrypted and is saved in secured cloud servers accessible only by authorised personnel. Further, the application takes regular backups to prevent any data loss.

Affordable pricing:

By subscribing to myBillBook with a nominal fee, you will experience a lot more benefits than just quotation generation. myBillBook is a complete billing & accounting software that takes your bookeeping practices to next level. From GST invoice generation, maintaining product inventory, stock & expense management, and POS billing to business performance report generation, the software has it all.

Available in both desktop and mobile versions, the GST software is accessible from anywhere and at any time. Manage your business on the go and surprise your customers with professional quotations delivered straight to their Whatsapp. Download myBillBook mobile application today and enjoy a 14-day free trial of India’s No:1 GST billing and accounting software.

FAQs on Quotation Format

Quotation format in Word or Quotation Format in Excel, which is better?

Quotation format in Excel is easy to use compared to quotation format in Word as the rows and columns in sheets are predefined.

Can I use myBillBook Quotation Generator for free?

You can create up to 14 quotations for free on the myBillBook quotation generator. After that, you need to subscribe to avail the service.

What is the difference between quotation format and invoice format?

Both quotation and invoice formats might look almost similar, but the difference lies in the purpose they’re used for. While a quotation is generated even before sale is confirmed, an invoice is generated before or after delivering the goods or services.

Know more about  Billing & Accounting Software for Small Businesses