An estimate is a quote or a proposal for the products you sell or the services you render to your clients to take your business forward.
- Status of Estimates
- Enabling Estimate
- Creating a New Estimate
- Accepting an Estimate
- Creating Retainer Invoices for Estimates
- Converting an Estimate to Invoice
- Creating Projects from Estimates
- Other Actions
- Filtering Estimates
Status of Estimates
|Draft||Estimate when created will be in the Draft status before it is sent.|
|Sent||Estimate once sent, will be changed to Sent status.|
|Accepted||Estimate once accepted by the contact or marked as accepted by you, will change to the Accepted status.|
|Declined||Estimate once declined by the contact or marked as declined by you, will change to the Declined status.|
|Invoiced||Estimate once converted as an invoice will change to the Invoiced status.|
|Client Viewed||Once the estimate is viewed by the client in the client portal, preview icon is seen next to the invoice.|
Click on the Gear icon and navigate to More Settings > Preferences and select the General tab, Choose Estimates under the Select the modules you would like to enable section and click on Save.
Creating a New Estimate
- Click on the + icon either next to the Estimates tab or the button placed on top of the estimate window to create a new estimate.
- You will be navigated to a new window for entering the details for the new estimate to be created.
Enter the details for the customer related fields.
- Under the Customer name field, you can either pick the customers from the list you have already created or you can add a new customer.
After filling up the required details, click on Save to add the new customer to the estimate being created.
In the Estimate# tab an estimate number is generated by default. If you wish to manually enter an estimate number, click on the Settings icon next to the tab and a pop-up will appear where you can select between auto-generated estimate number or manual entry of estimate numbers.
In the Expiry Date tab, you can set the date by which the estimate when not responded will expire.
Price List for the estimate can be selected from the price list you have already created under the price lists menu from Items tab. Learn more about Creating Price Lists.
In the Sales Person tab, type to add a sales person or choose an already created sales person name.
In the Project Name tab, type to add an already existing project for that customer.
Enter the item details for the estimate.
- Items can be added from the list of items shown in the dropdown that are already created by you in your Zoho Books account. If you want to add a new item select the Add New Item option from the dropdown which will navigate to a pop-up for filling the details for a adding a new item. Learn more about Creating New Items
To add another item, click on Add another line option.
Enter the Quantity, Rate and Tax if applicable from the dropdown. Tax dropdown shows only the taxes you created in the settings tab under taxes section. Learn more about Taxes.
Enter the Discount rate, Shipping Charges and Adjustments if applicable.
You can enter the Customer Notes and Terms & Conditions for the estimate. This will be carried forward while converting the estimate into an invoice.
You can also change the Template of the estimate, by clicking on Change and select another template.
- Now click on Save to create the new estimate
Creating an Estimate from Contacts
Navigate to the Contacts tab and click on a specific contact to whom you wish to create an estimate for.
Above the Contact window, you will find a New Transaction button placed.
Click on the New Transaction button and select Estimate, a new window will appear for creating a new estimate for that specific contact.
Now you can follow the procedure to successfully create an estimate for the contact.
After creating the new estimate, you will be able to find the estimate in draft under the estimate tab.
Send the estimate to your customer by clicking on the Email icon placed on top of the estimate window.
Accepting an Estimate
After your client has viewed your estimate, they agree on your quote and accept the estimate to convert it to an invoice.
Accepting through Client Portal
The estimate can be accepted by your client on the client portal. Learn more about Client Portal.
Marking your Estimate as Accepted
The estimate can also be marked as accepted or declined by you on instruction from your client.
- If you have not sent the estimate, but have already informed the customer on the quote and they have agreed for the deal then you can manually mark the estimate as sent from selecting the Mark as Sent option from the More drop down placed above the estimate window.
- Now the estimate can be marked as accepted by selecting the Mark as Accepted option from the More drop down placed above the estimate window
If you have sent the estimate and the customer has agreed to the deal, you can manually mark it as accepted from the More drop down.
You can configure the settings on the action to happen after the estimate is accepted. Navigate to the Settings > Preferences and select the Estimate tab and choose one of the options provided under Automatically convert accepted Estimate to Invoice section.
The estimate can also be marked as declined from the More drop down on denial of your quote from the customer.
Creating Retainer Invoices for Estimates
You can choose to create a Retainer Invoice automatically upon acceptance of your Estimates.
- While creating a new Estimate select the “Create a retainer invoice for this estimate automatically” option and enter the percentage of the amount with which the Retainer Invoice should be created.
- Once the Estimate has been accepted, a retainer invoice will be automatically created and sent to the customer.
Converting an Estimate to Invoice
You can also manually Convert an estimate into an invoice.
- Click on the estimate you would like to invoice, and select the Convert to Invoice button placed on top of the estimate window and you will be navigated to a new invoice form where the details from the estimate will already be populated.
- If you click on the option from an estimate which has already been invoiced, you will be shown a pop-up asking if you wish to invoice it again. Click on Yes to create a similar invoice from the same estimate. This method can be used to create multiple invoice from the same estimate.
Creating Projects from estimates
You can create Projects from Estimates.
- Click on the estimate for which you would like to create a project, and select the Create Project option from the More dropdown placed on top of the estimate window.
- You will be navigated to a new project creation form where the customer details from the estimate will already be populated.
You can Edit, Clone, Print, download as PDF, Mail and Delete your estimate.
You can edit by clicking on the Edit icon, print an estimate by clicking on the Print icon, download as PDF by clicking on the PDF button and send an email by selecting the Email icon provided on the top of the estimate window.
An estimate can be deleted by selecting the Delete option from the More dropdown.
There are situations where you would just want to create a duplicate of an estimate to send to your customer. You can do that by following the steps below.
From the More drop down present on top of the estimate window, select the Clone option.
This will allow you to create a duplicate estimate wherein the estimate date will be the date on which the estimate is cloned.
As you will be navigated to the estimate form, you can also edit details before saving the estimate.
Estimates can be filtered based on their status by click on the All Invoices dropdown on top of the Estimates page.
You can also create a custom view for your estimates by clicking on the +New Custom View under All Invoices.