A price quote, sales quote, or service quote can be a legally binding agreement between a vendor and a customer to deliver products and/or services at a predefined price. When the quote is accepted by the customer, the quote is then normally converted to an invoice. If you are looking for an easy yet professional way to create a price quote, download our free price quote Template below.
With this Free price quote template, you’ll have a very standard document in which you can create your personal price quotes and send it to your clients.
Price Quote Template
Use for Excel, OpenOffice, and Google Sheets
One of the easiest ways to create a price quote template for your business is to first start from an appropriate invoice template. For example, the first quote template on this page was created from our free invoice template. The second was created from our billing invoice template. The main differences between an invoice and a quote are explained below. So, if you need a more specific format such as a sales quote for the sale of goods or a service quote for hourly work, you could download the Sales Invoice or Service Invoice and convert them into a quote template with just a few minor changes.
A price quote is almost exactly the same as an invoice except for the following 5 points:
A quote should include an “Expiration Date” or “Valid until Date”, after which the quote is no longer valid (meaning that the vendor is not bound to the prices quoted after that date).
Your customer will want to know who they can contact if they have questions. Unlike an invoice which is a bill for a sale that has already taken place, a price quote is a tool for completing a sale. You want your customer to know that they have a real person they can contact. You could include a “Prepared by:” field below the address, and/or use the comment at the bottom of the template. If you were converting a sales invoice into a sales quote, use the “Salesperson” field list who prepared the price quote.
Terms and Conditions
Instead of comments that just specify payment requirements, you might need to spell out other terms and conditions. This could be done within the body of the invoice (underneath the description of an item) or in a separate “Terms and Conditions” section.
A price quote often has a place for the customer to sign their name to indicate their acceptance of the quote, but not always. It is common for businesses to email their customers a quote and then ask for an indication of acceptance via email. The higher the price, the more likely that a signature is or ought to be required.
New Client Discounts
New client discounts are a common way to help entice a new customer to purchase from you. Your customer might be requesting price quotes from multiple businesses, so your “new client discount” might be the thing that makes the sale. You can include discounts by entering the description for the discount on a separate line and entering a negative price.
You also might want to specify in an email that you will give the client an additional discount of $XX if they accept your quote by [the date]. People love discounts, and offering a discount to a client if they accept your quote with 7 days might encourage them to decide to go with your company instead of just delaying indefinitely or continuing to seek quotes from other businesses.