{"id":5363,"date":"2020-07-28T23:43:00","date_gmt":"2020-07-28T23:43:00","guid":{"rendered":"https:\/\/bookipistg.wpengine.com\/university\/?p=3096"},"modified":"2025-05-31T00:04:19","modified_gmt":"2025-05-31T05:04:19","slug":"what-is-a-price-quote","status":"publish","type":"post","link":"https:\/\/bookipi.com\/ja\/bookkeeping\/what-is-a-price-quote\/","title":{"rendered":"What is a price quote?"},"content":{"rendered":"<p style=\"font-size: 16px; font-style: normal; font-weight: 400;\">Quotes are important business documents that help businesses win jobs. It&#8217;s important to have a good understanding of quotes before you try writing one yourself. When you&#8217;re ready, try the easiest online <a href=\"https:\/\/bookipi.com\/quote-maker\/\">quoting tool<\/a> for free.\u00a0\u00a0<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-price-quote\">What is a price quote?<\/h2>\n\n\n\n<p>A <b>price quote<\/b> is a written document (or a verbal agreement at times) given to a potential client by a seller, providing a <b>fixed price<\/b> for a project.&nbsp;&nbsp;The fixed price given in a quote is valid for a set amount of time. If the quote is accepted by the buyer within the time frame, the price can not be changed.<\/p>\n\n\n\n<p>You might also hear price quotes referred to as simply, \u2018quotation\u2019 or a \u2018quote\u2019.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Quotes outline the costs and terms of particular services and\/or products.&nbsp;Quotes summarise the terms of the project such as the timeline and any additional costs that may be incurred if the project changes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-on-a-quote\">What is on a quote?<\/h2>\n\n\n\n<p>A quote will include the following details:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Business details (business name, number and contact information<\/li>\n\n\n\n<li>Total cost (and whether this is inclusive of tax or not)<\/li>\n\n\n\n<li>Breakdown of costs (list of any costs that will be incurred in the project)<\/li>\n\n\n\n<li>Variations (any add-ons that the client might wish to later purchase)<\/li>\n\n\n\n<li>Revisions (any additional work added to the project as it progresses)<\/li>\n\n\n\n<li>Schedule (start and end date and the total time that will be taken)<\/li>\n\n\n\n<li>Payment Terms and Conditions (how the payment needs to be made)<\/li>\n\n\n\n<li>The expiry date (when the quote\u2019s price expires)<\/li>\n\n\n\n<li>Signature (of client and seller)<\/li>\n\n\n\n<li>Payment method (the type of payment and details of how to make it)<\/li>\n<\/ul>\n\n\n\n<p>An example of a quote generated via <a href=\"https:\/\/bookipi.com\/invoice-app\/\">Bookipi app<\/a> is shown below.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/bookipi.com\/wp-content\/uploads\/2020\/07\/Annotation-2020-07-15-160949.png\" alt=\"\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-should-your-small-business-issue-quotes\">Why should your small business issue quotes?<\/h2>\n\n\n\n<p>Quotes are essential for businesses that provide custom jobs and for services. Provided services can vary and therefore, a standard price list won\u2019t work.<\/p>\n\n\n\n<p>For example, the total cost of a tiling job depends on the type of tiles being used, the size of the area being tiled and the amount of time the customer wants it to be completed in.&nbsp; &nbsp;A quote is usually written up after some consultation with the client. The consultation can simply be a phone call or the client could send some images of what they would like the final outcome to look like.<\/p>\n\n\n\n<p>At other times, it might involve an onsite inspection or a back and forth conversation until an agreement is made.<\/p>\n\n\n\n<p>Unlike an&nbsp;<a href=\"https:\/\/bookipi.com\/university\/estimates\/what-is-an-estimate\/\">estimate<\/a>, the seller must stick to the cost provided and complete all tasks outlined in the quote. If the value of the work ends up being more than what was quoted, the seller must still charge the same price. To protect yourself from this, you can include terms and conditions that outline what will happen in these instances and the additional charges.<\/p>\n\n\n\n<p>Quotes are also helpful at protecting businesses from fluctuating prices. The time frame often reflects the nature of the item\u2019s cost. For instance, a seasonal product\u2019s price might vary month to month. In this case, the quoted price may be for a 30 day period.<\/p>\n\n\n\n<p>Learn more: <a href=\"https:\/\/www.investopedia.com\/terms\/q\/quote.asp\">Investopedia<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-sales-quote\">What is a sales quote?<\/h2>\n\n\n\n<p>Like a price quote, a&nbsp;<b>sales quote<\/b>&nbsp;is a quoted price given by a seller to a buyer but is specifically for products. A price quote can be used for both products and services.<\/p>\n\n\n\n<p>A sales quote will list all the products, their quantities and prices. Discounts, taxes, terms and conditions and product information may also be included.<\/p>\n\n\n\n<p>A sales quote is either accepted or rejected by the buyer. If the buyer accepts the quote, it becomes a&nbsp;<b>sale order<\/b>. The products, quantities and prices in the sales order are the same as they are in the sales quote.<\/p>\n\n\n\n<p><a href=\"https:\/\/web.bookipi.com\/auth\/signup\/\">Try<\/a>\u00a0Bookipi\u2019s\u00a0<a href=\"https:\/\/bookipi.com\/quote-maker\/\">quote maker<\/a>\u00a0software for free.\u00a0Generate professional quotations, estimates,\u00a0invoices\u00a0and\u00a0<a href=\"https:\/\/bookipi.com\/get-paid\/\">get paid<\/a>\u00a0in one solution.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-make-a-small-business-quotes-amp-more-on-the-go\">Make a small business quotes &amp; more on the go<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/bookipi.com\/invoice-app\/\">Make quotes, estimates, invoices &amp; more with Bookipi Invoice app<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/bookipi.com\/proposal-maker\/\">Make &amp; send professional business proposals to win more work from clients<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/bookipi.com\/expense\/\">Track business &amp; personal expenses from anywhere with Bookipi Expense app<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Quotes are important business documents that help busin [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":3436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"price quote","_yoast_wpseo_title":"What is a Price Quote | Bookipi University","_yoast_wpseo_metadesc":"Price quotes help businesses win work & are especially important for custom jobs. 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