Effective communication is essential in business, and quotations ensure transparency and clarity in financial transactions. 

A comprehensive quote outlines costs, services, and terms, establishing a foundation for trust between parties. They are designed for efficiency and accuracy and provide a standardized presentation format. 

Leveraging these templates can expedite the quotation process, allowing businesses to focus on delivering value rather than drafting documents.

A quote template is a document that allows sellers to break down the estimated costs of your services/products.

As a business or entrepreneur, you should create them to explain to your customers what they are paying for and what to expect.

Quotations allow your business to streamline proposals and provide precise estimations to new or old clients.

A Quote template includes project timelines, processes, payment terms, and all the details that the client needs to understand what they’re getting.

The document also needs:
 

• Company name.

• Contact information.

• Job Summary.

• Total cost.

• Cost breakdown.

• Additional Costs.

• Material Costs.

• Total price.

• Customer ID.

• Quote Number.

• Terms and conditions.

• Payment schedule.

• Expiration date.

• Signature line.
   

The idea of providing all this info is that your customers can choose your product and the transparency to see all you’re charging.

You can customize it later if something changes or expires after the due date.

Quote templates include certain features you must consider before applying them to your business.

Quote Date Information

Quote templates include a quote date showing when the client receives it. If you’re sending a physical quote, you should extend the date in case of delays.

Valid Period

This attribute refers to when the document expires.

A service quote should last until the project completion, while product quotes must have a clear due date to complete the purchase.

The quote’s validity is subject to change depending on stock, price modifications, and other situations.

ID Number

The document must have an identification number correlated with the number of quotes you’ve written.

For example, let’s say you’re starting a business and get ten quotes daily. You should address them as 1, 2, 3, 4, 5…10.

You should use software that helps you track quotes and ensure a precise order. Also, consider that the same customer has different quotes simultaneously.

Customer ID

It works similarly to the quote number, but it references customers. This is how you can identify your clients, as there could be different persons with the same name or location.

The ID will let you see who you’re referring to and what’s their data.

Address

This is usually where the customer lives. In the case of an organization, it refers to the building’s location.

You could also include here all the branches and respective locations.

Product/Service Descriptions

This is the place where you describe what your offer is about. You can describe each product, project, or service your client will get.

For example, if you’re selling a business logo, you should include a description explaining what it is, quantities, size, prices, etc.

This also happens with a construction business when you want to quote a cement bag or similar products.

Item Quantity

Quantities will allow your client to see how many of your products they will receive.

Instructions

Here, you will add information about how the payment will be delivered. For example:

• If there will be two or more payments per month.

• If prices will increase or will have a processing fee.

You could also add the terms and conditions that include confirmation agreements and the contact person in case the client needs to contact you.

While price quotes are the most common documents to send to potential clients, there are others that you could use depending on the industry. 

Let’s break them down:

Price Quote Template

The quote template is meant for businesses to give more information to customers about the estimated costs of goods and services. The company must include fixed prices the customer accepts and clear product descriptions.  

As with any quote, the document should contain all client and business information and the product data that the customer accepts.

Sales Quote Template

The sales quote includes the buyer’s request. It has specific products, services, or project lengths. It’s meant to provide extra information about the purchaser’s order.

An example would be the sales quote you get when you select a few products and make a checkout. You’d receive a document to check all the goods you want to purchase before you pay.

Purchase Order Template

The purchase order is the commercial document the buyer sends a business that includes all the product’s information. Compared to others, it’s an official paper that allows purchasers to pay now or later.

Your client could also send you a blank PO to purchase products constantly.

It’s up to you to decide whether to accept or reject it.

Corporate Events Template

This quote template allows event planners to inform potential customers about planning costs in a personal or corporate setting.

Here you would include data like fixed price, decoration, food, hall, unit prices, etc.

Since events usually involve multiple prospective clients, you should give a positive first impression and include all key elements the company needs to nail the event. You could also add other services that complement your offer.

For example, security, rentals, etc.

Business Travel Quote Template

Travel quotations involve sending travel, accommodation, and transport costs relevant to business trips. You could also include cleaning services and other similar products/services.

This is an excellent template for small businesses in the travel industry or specific services like visa applications and insurance.

Follow these eight steps to create a quote template that you can send to clients.

Select a Template & Quote Purpose

Choose the template you will use based on your business’s goal. This will require a learning curve and identifying what your company sells to select the right format to develop professional and comprehensive quotes.

Once you select the document type, you can customize it however you want and add or remove fields to tailor it to your customers. This could mean including a specific time frame, business logo, etc.

Include the Client’s Information

Include all the important information about your client.

When you create quotes, you must ensure all data is addressed for further accuracy and meet your client’s expectations.

You could also include the contact name to increase trust in product and service quotes.

The Quote Number

The quote number should be generated automatically if you’re using accounting software. Otherwise, you must include it manually to ensure you track your quotes and know how many you have created so far.

Issue Date

It’s the date when you send the quote. You should also include a date of expiration that’s usually up to 30 days after. 

You could also extend the offer’s valid period as you wish.

Include Descriptions

Include the product information that explains exactly what your client is getting from you. For example, construction companies may sell cement bags, but they must include product numbers, quantities, unit prices, total costs, and other information that applies.

It’s like you’re creating a pre-invoice.

The description could also have different formats that you can use depending on the project scale. You can use one for a small business and another for a huge corporation.

The descriptions should also include taxes and other extra charges in product sales.

Terms & Conditions

In this section, you must clarify all the information your customer must know when acquiring your product or service. This includes timelines, expected delivery dates, payment terms, etc.

You should also include clauses about additional fees or how much the client has already paid.

For example, if you’re a VA (Virtual Assistant), your customer receives a quote with the hourly rate, payment method, and additional work conditions.

Notes

The notes will provide extra insights into your terms and conditions. It’s an excellent place to include timelines, ETAs, and summarized project scope (in the case of services.)

You could also include polite thanks or a greeting to start commercial relationships.

Additional Details

This is an optional section in your quote, but you could use it to include information about your purchase order, discounts, tax numbers, etc.

Now that you know how to create your templates, you can modify them using Microsoft Office instead of Google Docs.

This paid productivity software gives you extra features you can’t find in online programs, like graphics, charts, automated formulas, macros, and more!

RoyalCDKeys brings you a Microsoft Office 2021 edition where you can edit free quote templates for your customers.

And, if you haven’t found free templates yet, we’ve gathered the top two quote formats for your business:

Template #1

Free Quote Template with terms and conditions - Download Link

Template #2

Free Quote Template with billing and shipping information - Download Link

Quotation is a necessary business process that you must perform if you want your customers to get detailed product/service information.

Both parties will benefit from this document, which a business shouldn’t underestimate. These bridges service providers and clients, ensuring both parties have clear expectations. 

While the importance of a well-structured quote is undeniable, the process of creating one shouldn't be a hindrance. 

Businesses can streamline this task, ensuring that professionalism and precision are maintained.