How to Make Quotation Which Your Clients Accept?

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How to Make Quotation Which Your Clients Accept?

• https//www.imprezz.in/ Imprezz

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Small businesses in India can poach clients if
they know how to make quotation that works for
their business. Not many business owners realize
that the way they create quotations can cost them
business. They fail to follow-up on quotes or
turn them around faster, which results in loss of
revenue. Healthy cash flow and converting
invoices into payment are some of the top
financial challenges faced by the SMEs. Working
efficiently on the quotation processes can
immediately rid businesses of the delayed
clients acceptance. Simultaneously it helps
businesses get paid faster, improving the cash
flow. So, having your hands-on with creating
quotation which your clients accept can make all
the difference. Imprezz.in, the best accounting
software in India, can help you create
captivating, professional quotes that your
clients cant ignore. In this article, we
coupled a comprehensive guide on how to make a
quotation which your clients accept.
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What is a Quotation?

• A quotation is a document that businesses send
  clients to offer their goods and services at a
  specified rate and conditions. Alternately,
  quotes provide an estimation for projects.
• Quotations arent a legally binding document
  unless they are specified as an official part of
  a contract. However, once the client accepts the
  quote, they are committed to that particular sale
  at specified rates.

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When Should Businesses Send a Quotation?

• Usually, businesses are asked to send quotations
  by clients interested in knowing about the goods
  or services precisely before purchasing them.
• It is crucial to send quotations within a few
  hours from the requested time. Customers
  interested in buying a particular product,
  request quotes from several businessesthe one to
  send quotes at the earliest wins.
• At the same time, businesses must be quick enough
  to calculate costs and profit margins accurately.
  Automate quotation processes to avoid sending
  faulty sales quotes to your clients. Do not offer
  unrealistic prices as a quote is not a legally
  binding document.

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How to Make Quotation which Your Clients Accept
8 Simple Steps

• A quotation can either be a document with
  specified rates or a verbal proposal. Creating
  quotes and effectively managing quotation
  processes is vital for businesses to land on
  potential clients.
• By automating quotation processes, you can
  quickly generate new businesses. It can stimulate
  the overall business growth. Here are 8 simple
  steps to create a quotation that clients accept.

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1. Select an Imposing Template

• Creating quotations is a learning process. Using
  a standardized quotation format makes it more
  professional and impressive. You can make
  comprehensive quotations, customize details with
  templates that your clients will love.
• There are several sales quotes templates
  available on an online quotation creator. Mostly
  businesses in India use bookkeeping or online
  accounting software to generate sales quotes.
• You can also send estimates with approximate
  prices through accounting software. Imprezz
  offers an estimating feature that enables you
  to generate estimate quotations in the cloud. You
  can directly send it to clients via email. The
  Feature allows your clients to approve quotes
  automatically.

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2. Add Client Information

• A detailed quote provides a better understanding
  of your products and services. You need to
  include the following information to make your
  quotes look more professional.
• Business Name
• Company Address
• Contact Number
• Fax Number (If any)
• Email Address
• Contact Name and Title
• That said, do not forget to mention your contact
  details in the quotation.

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3. Add Quote Number If you use accounting
software for creating quotations, it
automatically generates a quotation number for
you. However, the software must provide features
to edit the quote number when required. 4. Enter
the Date of Issue The date of the issue
specifies the date on which you send the
quotation to your client. Including the date of
issue is vital since a quote is usually valid
for a limited time. You can also mention the
validity of your quote. However, you can extend
or decrease the quoted time if you prefer doing
it.
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5. Include Your Products and Services

• Enter the products or services you are quoting
  under line items. It is always ideal to
  describe the items, product number, quantity,
  unit price, and total amount per item.
• Divide the products and services concerning the
  different stages of a project. You can also
  separate labor and material charges. Imprezz
  offers you quotation templates that are specific
  to your industry.
• The image below demonstrates the pre-build
  Imprezz quotation templates that are uniquely
  designed concerning the different industry-types.

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Organize the cost breakdown. Do not include any
information irrelevant to the project. Sum up the
costs and add your subtotal. Not to forget, add
tax amount on the total if applicable.
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6. Mention the Terms and Conditions

• Mentioning terms and conditions allows you to
  specify possible variations of a project. As a
  freelancer or a small business, you need to
  explain the additional charges applicable to the
  product. Explain the conditions under which
  additional charges are applicable.
• Mention how and when you want to be paid for the
  project. Add payment modes and details. Mention
  in prior if you expect an advance deposit for the
  project. You can specify if youd like full
  payment on completion or half up front, and a
  half after the project is completed.

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7. Include Notes

• You can include any additional information in the
  notes. It is an ideal place to add information
  regarding the time and anticipated completion
  date. Summarize the scope of your project, thank
  your client for the opportunity and let them know
  you are waiting to work with them.

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8. Add Optional Details

• You may not want to include specific information
  in your quotations. However, it is a good idea to
  include some optional details. You can add the
  following elements in your quotes.
• Purchase Order Number (The one you receive from
  the client)
• Discount
• GSTIN Your Sales Tax Number
• Signature
• Check the spellings and grammatical accuracy of
  your quotation. Make sure that all your
  calculations are accurate. Once you have
  completed all the steps mentioned above, you can
  email the quote to your client.

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The image demonstrates the mailing feature
available on Imprezz.in. Once you complete
creating a quotation, you can directly mail it to
your client on Imprezz accounting software.
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How to Format Quotations

• There are no legal regulations to format a quote.
  However, you can implement some basic formatting
  while creating a quote. Most businesses prefer
  using quotation formats similar to their invoice
  formats.
• If your accounting software offers features to
  create quotations and invoices under the same
  platform, it is a win-win situation.
• The image below demonstrates the single dashboard
  feature of Imprezz.in where you can create
  standardized quotations, tailored quotes, and GST
  ready invoices under the same platform.

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Single Invoicing  Dashboard Feature on Imprezz.in
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It is mandatory to choose a template that
specifies Quotation or Quote.  It enables
your client to differentiate the quotation from
other documents. It is crucial to have the date,
quotation number, customer information mentioned
at the top. You can then enter the product
details and price. Always have your business
information mentioned at the bottom of the
quotation template. Make sure you create
quotations that are easy to read, use clear
fonts, and layout. Add your company logo to
personalize the quotation format. Always remember
that your logo must reflect your brand.
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Even when you are mailing the quotation, make
sure your quotation looks impressive when
printed. Some customers might want to keep a
printed record. Make sure that your quote fits
within an A4 size sheet. Attach files
separately if required. You can automate all
your quotations processes through an online quote
maker. It makes it easier to create compelling
quotations. Also, it helps you keep track of
quotes sent to the customer.
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Quotations v/s Proforma Invoices

• For any business, it is crucial to understand the
  difference between a proforma invoice and a
  quotation. A proforma invoice is a nonofficial
  document sent to a client before confirming the
  projects final details.
• Businesses usually use a proforma invoice at the
  same point in the sales process as that of a
  quotation. However, a proforma invoice and
  quotation are set out for different purposes. A
  quote is generally sent to a client in reply to
  an inquiry. When a client requests for further
  details, a proforma invoice is sent.
• In a nutshell, quotations are sent to poach
  clients, and proforma invoice is sent once the
  client has committed to purchase. Proforma
  invoices used as businesses cannot send an actual
  invoice when the sale is still uncertain.

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Quick Tips on How to Make Quotation Which Your
Clients Accept

• Construct your sales quote precisely
• Send a quote within 24 hours
• Insert a quoting engine on your website
• Follow up frequently after sending a quotation
• Always ask questions to your potential customers
  and learn from mistakes

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Creating Quotes Made Easier with Imprezz.in

• Managing your finances through spreadsheets can
  be stressful. It curbs the business accounting
  workflow. It is vital to have access to all your
  financial data at your fingertips.
• With Imprezz.in, you can see the summary of
  quotes in progress. You can see whether it is a
  draft, sent, accepted, or expired quote. With
  Imprezz, it is easy to track your quotes,
  automate the follow-up procedures, and keep your
  business on track.
• You can automate quotation processes on
  Imprezz.in. Create a quotation in just a few
  clicks. Worry no more, send standardized quotes
  with no hassles.

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The image below demonstrates the standardized
quotation template which includes all the key
considerations mentioned in the article above.
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Conclusion

• Sales is not necessarily a complicated process.
  Know what is your unique selling point, add an
  ideal price on your product or services, and
  sell. Its that easy!
• Never compete with other bids. Try to work out
  what you need to authenticate your project. Then
  add your margins accordingly.
• We hope that our extensive guide on how to make a
  quotation that your client accepts has helped
  you.
• Are you looking for accounting software to
  automate your bookkeeping tasks? Create
  quotations in no time with Imprezz.in. We offer
  a 14 days free trial software program for small
  businesses in India. Start right away!

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Email - info_at_imprezz.in

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