Submitting estimates and quotes, tracking business expenses, and streamlining other business operations can be tough for small businesses. However, having them sorted will help your company grow. This can be easily achieved by expense tracking software, as it lets you manage business expenses with ease. Read this blog to understand how you can create accurate and comprehensive estimates and send them to your clients.
- Pick up a Template
You can create quotes from Project estimation software easily. But, before you make one, you will need to choose a standard quote format. This will help you look professional and build a solid relationship with clients.
You can even add your company letterhead and logo. Picking the right business quote format template will heavily depend on the software you are using. Once made, you can download it in Excel, PDF, or Word format.
A good expense tracking software for small businesses will ensure that your invoice is properly formatted and your estimates are accurate. In addition, it lets you eliminate errors that can harm your professional reputation.
- Add All Relevant Client Information
The next step is to add all information using your project estimation software. This includes
- Name of both businesses
- Office Address
- Phone number
- Email address
- Contact name and title
Also, don’t forget to add your contact details. If in case you are using letterhead, then you may not include it.
- Enter Estimate Number
Expense tracking software automatically assigns you a quote number. But, you can choose to edit it if you want to. For example, if multiple pages are in the same mail trail, individual numbers will be used on your quotations to keep everything clear.
- Write Down The Date of Issue
It is very important to mention the date you send your quote. Your project estimation software will help you track them. You can even add the validity of your quote to say, “Valid for 15 days”. But, remember you can always choose to extend or decrease the timeline.
- Mention the Products or Services
In this step, you will need to describe the products and services, their unit price, and the total price per item. You can even divide the products and services as per different project stages. Another idea is to segregate the labor and material costs. For this, you will need to choose a template that lets your clients understand the cost breakdown.
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Also, you must make it a point to jot down the things that don’t have a correlation with the project. For example, a contractor may charge for labor for installing a device but not for picking up that device from the store.
- Jot Down Terms and Conditions
In this part, you will need to write down the decided terms and conditions. These can include project timelines, the payment cycle, methods of payment. You will also need to mention if you accept credit cards. If you expect an advance payment or some deposit on half completion, you will need to add all these in your estimate.
- Put Detailed Notes
In this section, you can write about the timelines in detail and the expected completion date. You can even choose to add a summary of the project scope. Lastly, make sure you thank your client for giving you the opportunity to work with them.
- Give a Final Check
The last step is to give a thorough check and add any left-out information. While these are not required for your quotes, you can consider adding them.
- Purchase order number
- Discounts (if any)
- Sales tax number
- Signature section
- Business number
This was all about how you can make top-notch estimates and quotes with project estimation software and expense tracking software. It would help if you follow the steps detailed above and are all set. However, if your search for the best estimate-making software has not ended, allow us to help you find the best one for your organization!
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