Track estimates you provide and prices you quote to prospective customers by creating sales quotes and sales estimates.

Quotes and estimates don't affect your account balances. Once your customer accepts a quote or estimate, you can convert it to a sales invoice. This then updates your ledgers with the values of the original quote or estimate.

 NOTE: We've added new features to Quotes and Estimates in Sage Accounting. Read more about our Updates to Quotes and Estimates >

Difference between a quote and an estimate

Quotes

A quote is a legally binding fixed price for a product or service you're supplying to your customer.

It summarises the items you'll supply or the work you'll carry out, including taxes and a final total. You should always send to your customers in writing. This can be by email or as a printed copy. Once your customer accepts the quote, this becomes a binding contract between you. You can then convert the quote to an invoice.

Estimates

An estimate is a more approximate guide to how much a product or service will cost. When you give an estimate, both you and your customer understand that the prices is subject to change. It isn't a guarantee of what the final cost will be. It's still recommended that you supply estimates in writing, be it by email or as a printed copy.

Neither type affects your account balances until it has been accepted and converted to an invoice.

Before creating your first quote or estimate

To help manage your quotes and estimates, create default settings such as terms and conditions and the standard number of days until a quote or estimate expires.

The expiry date is set to 30 days by default and used to set an expiry date on the quotes and estimates you create. Once this date passes, the status of the quote or estimate is set to Expired. You can still convert it to an invoice.

See how to set terms and conditions and expiry date >