Sales Quotations
Businesses rely on sales to survive. Customers must get charged for what they want to buy so that the business can continue functioning. A company must communicate the cost of products or services to potential customers so everyone knows about this.
A company that does this professionally can project a good image for potential clients. A sales quotation can help here. This document informs potential customers of the estimated cost of certain products or services. It includes details about the product or service so clients know they are being charged correctly.
A sales quotation is important as it outlines the product or service being provided and its estimated cost. The terms and conditions linked to this are even mentioned in the quotation. Important information about the sales is included in the quotation, which the client needs to know. This sales quotation can, therefore, help potential customers decide whether to buy the product or get the service.
The quotation will include information about the company, such as its contact details, details about the potential customer, and the expiry date of the quotation. It will also include a product or service description and its cost. Finally, there will be a section that mentions terms and conditions related to the sale.
Various types of quotations can be used as sales quotations…
#1 Fixed Price Quotation
A fixed-price quotation is a sales document where the seller provides a set, unchanging price for goods or services, regardless of actual costs incurred.
MS Excel -Files Size: 92 KB
#2 Unit Price Quotation
A unit price quotation specifies the cost per individual item or unit of a product or service, allowing buyers to calculate total costs based on the quantity they wish to purchase.
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#3 Cost Plus Quotation
A Cost Plus Quotation outlines the total cost of goods or services, including materials and labor, plus an additional percentage or fixed fee as the seller’s profit margin.
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#4 Time and Materials Quotation
A time and materials quotation estimates costs based on labor hours (time) and materials used.
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#5 Provisional Quotation
A provisional quotation is a seller’s preliminary estimate based on incomplete or approximate details. It offers an indicative price subject to changes once final specifications or requirements are confirmed.
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#6 Custom Quotation
A custom quotation is a tailored pricing proposal created to meet a specific buyer’s unique requirements.
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#7 Project-Based Quotation
A Project-Based Quotation provides a detailed estimate for a specific project, outlining labor, materials, and services costs based on the project scope, timeline, and deliverables.
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#8 Volume Discount Quotation
A Volume Discount Quotation offers reduced prices based on the quantity of goods purchased.
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#9 Freight and Logistics Quotation
A Freight and Logistics Quotation outlines the costs of transporting goods, including shipping fees, handling, storage, and additional services such as customs clearance or delivery charges.
MS Excel -Files Size: 111 KB
Benefits of Sales Quotations:
The following are some benefits of a sales quotation:
- A sales quotation can help a company professionally communicate the services or products being provided and how much these will cost.
- The quotation tells potential buyers the cost of this, and they can compare different quotes and choose the one that best suits their needs.
- When a potential customer gets a quotation, they can negotiate with the company if they have issues with the cost of the services or products.
- A company can help build trust with buyers when there is transparency present.
The following are some limitations that a sales quotation may have:
- A salesperson may make a mistake when preparing the quotation, especially if it is for some complex deal.
- The final price may be more than the quote. This can result in customer dissatisfaction.
How to make Sales Quotations?
The following points can be considered when making sales quotations:
Structure of sales quotation:
The heading can be “Sales Quotation”. There should be a place to include the quote number and the date. The customer ID can be mentioned, and the date till the sales quotation is valid.
Business and customer details:
There should be a section where the company’s name and contact information, including its address, can be present. The customer’s name and contact details should also be included.
Create table:
You can make a table and include the relevant information. A column for description will provide details about the products or services being provided. A column for quantity needs to be present, and another is for unit price. A column for the amount will mention the cost of the sales. At the bottom of the table are rows for subtotal, VAT, and total cost.
Terms and conditions:
Include a section where terms and conditions related to the sales can be included.
Signatures:
It is important to have a section where the signature of the business representative and customer can be included so that the document is valid.
Transparent format:
A sales quotation should be transparent and include relevant details to satisfy the potential customer.
A business needs to carefully prepare sales quotations so that potential clients know what they will pay for and whether they want the products or services. Professionally and carefully preparing a sales quotation can enhance a company’s reputation in front of potential customers.
MS Excel (.xlsx) Format
MS Excel (.xlsx) Format
How do you make a Sales quotation sheet in Excel?
The templates available are SQTs, contain fields for data entering, and can be edited when required.
This is how it is used:
- Download the desired template from the options given below.
- Go to Excel and run that template.
- Click the available fields to enter the product’s name, weight, price, address, phone details, payment, delivery, and shipping.
- Once this is done, save it.
- Enter Ctrl+P and get a print of the template. You can enter the values manually on the template on the computer, or you can enter them by hand on the printed form.
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