Sales Quotations

Overview

Sales quotations are used to provide price proposals to potential customers before creating a formal sales invoice. Unlike invoices and receipts, quotations do not generate any accounting transactions as they are primarily used for price negotiation and approval processes. Once a customer accepts a quotation, it can be directly converted into a sales invoice, carrying over all the product details and pricing information.

Fields of the Sales Quotation Form Explained

  1. Issue Date: The date when the quotation is created. This date is used for reference and tracking purposes.
  2. Expiry Date: The date until which the quotation prices are valid. This is optional but useful for managing price validity periods, especially in markets with fluctuating prices.
  3. Customer: The potential customer to whom the quotation is being issued. The quotation will be linked to the customer record and will inherit the customer's details such as address, contact information, and pricing policies if configured.
  4. Quotation Products: The list of products included in the quotation. Each product added inherits certain values and defaults, which can be modified at the time of creating the quotation. Each product line includes:
    1. Product Name: The name of the product, inherited from the product definition
    2. Quantity: The proposed quantity of the product
    3. Unit Price: The price per unit, defaulting to the product's defined sale price. If a pricing policy exists for the customer, it will be applied as the default instead of the product's defined sale price. It can be modified as needed.
    4. Percent Discount: Percentage discount to be applied to the product. If a pricing policy exists for the customer, it will be applied as the default instead of the product's defined sale price. It can be modified as needed.
    5. Amount Discount: Fixed amount discount to be applied to the product. If a pricing policy exists for the customer, it will be applied as the default instead of the product's defined sale price. It can be modified as needed.
    6. Subtotal: The subtotal of the product after applying discounts and before tax. This is a calculated field that is updated automatically based on the product pricing.
    7. Tax Subtotal: The tax amount calculated based on the product's tax type. This is a calculated field that is updated automatically based on the product pricing and tax type.
    8. Tax Included: Whether the unit price includes tax. It will default to the product's defined tax settings, and can be modified as needed.
    9. Subtotal (Including Tax): The total price of the product including tax. This is a calculated field that is updated automatically based on the product pricing and tax type. You can modify this and it will be reverse-calculated to the unit price based on the current quantity and tax settings.
  5. Total: The total amount of all products in the quotation including tax. This is a calculated field that is updated automatically based on the products list.

Sales Quotations Other Properties

  1. Quotation Reference: Automatically generated by Mezan based on your organization's counters settings when the quotation is first created.
  2. Archive Status: A quotation can be marked as archived to indicate it's no longer active or relevant. This helps in managing old or rejected quotations without deleting them.
  3. Organization Member: The team member who created the quotation. It is automatically populated by the system based on the user who created the quotation. It is useful for reporting, permissions, and audit purposes.
  4. Linked Invoice: If the quotation has been converted to a sales invoice, this shows the link that sales invoice.

Converting Sales Quotations to Sales Invoices

Sales quotations can be converted to a sales invoice with a single click, which will generate an invoice form initiatied with details matching the sales quotation. During conversion:

  1. All product details, quantities, and prices are carried over to the new invoice form
  2. The same customer from the sales quotation is linked to the new invoice form
  3. The invoice is generated on today's date
  4. The sales quotation is linked to the new invoice for reference when it's created, and the original sales quotation is marked as converted with a link to the new invoice
  1. Sales Pricing Policies
  2. Custom Fields
  3. Custom Templates
  4. Attachments
  5. Comments
  6. Team Permissions
  7. Table Views