Estimate Templates
Are you looking for free estimate templates that are stylish and easily customizable? Then, this is the right place to be!
The free templates from Billed can be used as an estimate or quote template. Our templates have been designed with simplicity in mind, so they will take little time to customize. You can use any of our design elements (header, footer, etc.) to make your unique estimates.
Get Your Free Free Estimate Template
It is common for many services today to first obtain several offers and compare them with one another before making a final purchase decision. Writing a cost estimate has long been part of the daily work of many entrepreneurs.
With the help of Billed’s estimate template, you can easily create stylish and detailed quotes in just a few seconds.
You can download our free estimate templates in various formats like Google Sheets, Google Docs, PDF, MS-Words, Excel.
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Estimate With Billed
Download the free professionally designed, fully customizable estimate template from Billed.
Contractor Estimate Template
A good estimate template must be complete. Download, customize and issue this elegant estimate template to your clients. It works the way you want, helping you create estimates more quickly, accurately and eliminating redundant tasks and data entry errors
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- What is an estimate?
- Why do you need to make an estimate?
- Difference between estimate, invoice, and delivery note
- Write an estimate that your customer will accept.
- Why Use Our Estimate Templates?
- What Are The Benefits Of Using An Estimate Template?
- Role of quotation
- What is the expiration date of the estimate?
- Why You Should Include an Expiration Date on Your Quote
- Types of Estimate Templates
- Estimate making rules
- Tips While making an Estimate
- What to include in an estimate?
- Some Other Templates
- Download The Estimate Template For Free
What is an estimate?
An estimate is a document issued after receiving a work order and before officially accepting the work.
In most cases, we receive a request orally or by email from the client to create an estimate, but there are also cases where we receive a document such as a “estimate request form” and create an estimate.
We will do so when negotiating prices in contracting businesses such as professional businesses, creative businesses such as website creation, and product sales businesses based on this estimate.
Estimates, purchase orders, statements of delivery, invoices, receipts, etc., issued in commercial transactions are called “evidence” and must be preserved in the same way as books.
Why do you need to make an estimate?
You are not legally obligated to make an estimate.
So why issue a quote? The reasons why we need to prepare an estimate are as follows.
Make ambiguous amounts transparent.
Estimates are necessary not only for the price of the product or service itself but also for the margins, such as fees and shipping costs, to be accurately stated in the quotation and to make unclear amounts transparent.
Transaction Record
Although there is no legal obligation to prepare a written estimate, transactions based on verbal promises that do not remain in the records can lead to trouble. A quotation is necessary to avoid misunderstandings between the receiving and ordering sides.
In addition, since quotations are documentary evidence of transactions, in principle, they must be kept until the deadline for filing corporate tax returns seven years after the end of the accounting period.
Create a flow of transactions
For the ordering side, the quotation is a document that plays an important role as a decision material for starting transactions.
The basic transaction flow is as follows.
1. The ordering party issues an estimate
2. When an agreement is obtained on the quotation contents, a purchase order is issued to inform the official order from the ordering party.
3. The receiving side issues an order acknowledgment that officially accepts the order requested by the ordering side, and the contract is concluded.
In addition, we recommend using a convenient quotation creation template when creating a quotation.
If you search with keywords such as “estimate template,” websites that can be downloaded for free are displayed at the top. It is possible to obtain a quotation template by entering and sending the information.
After obtaining it, fill in the frame of the quotation template, and you are done.
Difference between estimate, invoice, and delivery note
Estimates, invoices, and delivery notes have different characteristics in commercial transactions.
The estimate is prepared before the contract transaction. It is not a document that must be prepared under the Civil Code, the Companies Act, and the Tax Law but is created and issued based on business customs.
The invoice is created after the contract transaction and is mainly used for payment collection. Whether the invoice itself is legally valid depends on the circumstances, but tax law requires that it be retained for a certain period. Depending on the level of the company or business, there is a storage obligation of up to 9 years.
The delivery note is a document that accompanies the contract transaction and is the legal basis for the delivery date. The obligation to pay the ordering party’s price will occur after the delivery date, and the order receiving party will have the right to receive the payment after the delivery date.
Write an estimate that your customer will accept.
Everyone has already received an offer or a cost estimate that they were annoyed about. What are common causes for this? The contractor did not fully understand the customer and is offering something that the customer does not want. That is why it is important for you as an entrepreneur to communicate well with your customers. It usually helps to pick up the phone for a moment.
You also have to be honest with yourself and your customer: only offer something that you can really do at this price. And of course, consider in advance whether you want to include room for discounts in your first offer.
Fairness and quality are important for a good relationship with the customer and thus a good basis for long-term success! Make your work easier with software like Billed for creating professional offers and cost estimates for more customer satisfaction!
Why Use Our Estimate Templates?
Every client and project has different requirements and budget-levels. To meet all the levels of budgets and requirements, you need to create a quote that fits all your and client’s needs.
That’s why you need to use accounting software that fulfills all your business needs. Luckily, Billed is a powerful tool that can centrally manage and streamline the business, and SMEs, like sales management, payment management, grasping sales forecasts, cash flow forecasts, as well as creating quotations and invoices.
- Create quotes in bulk
- Automatic calculation
- Alert function to prevent billing omission
- Reduce the psychological stress of paperwork
What Are The Benefits Of Using An Estimate Template?
Using an estimate template makes it easier to create a professional-looking estimate. Plus, using an estimate template saves you time because you don’t have to spend hours creating estimates manually.
When you use an estimate template, you also save money because you avoid paying for software that isn’t necessary.
Role of Quotation
Quotations should be issued for exchanging work. Let’s confirm the two roles of the quotation.
・ Avoid unnecessary troubles
A quotation is a document that proposes to the client of the job what to deliver and the amount. Therefore, if you proceed with the work without issuing a quotation, various troubles may occur later if there is a discrepancy between the client and the client in terms of work content, amount of money, delivery date, etc.
・ It will be a material for comparison and examination for the client
The quotation is not necessarily issued after the job request is confirmed.
In some cases, the client requests the issuance of a quotation as material for comparing and considering the prices and delivery dates of products and services of other companies. At that time, the quotation will also be material to appeal to the client your sincerity and subsequent response to the requested content.
The sooner you submit a quote, the more you can give the impression that your work will be more reliable and quicker. However, if you place much emphasis on speed and the quotation contains content that does not meet the request of the client, or if there is an error, it will cause the evaluation to decline. Please be careful about that point.
What is the expiration date of the estimate?
There is no fixed one. It depends on the product and service. If the price of the material fluctuates, shorten the expiration date. As much as possible, it is better to add the expiration date.
Why You Should Include an Expiration Date on Your Quote?
The biggest reason why the expiration date should be stated is that it encourages the other party to place an order promptly. If you set a deadline, you may avoid ending up in a situation where you won’t be able to order work, no matter how long it takes. Also, there is a risk that you will be suddenly requested when you forget to do it, and your schedule will need to be in order.
In order to avoid such a situation, it is necessary to express your intention that “If you place an order by when we will do the work under these conditions.”
Types of Estimate Templates
These are some of the specific types of estimate templates.
- Cost Estimate Template
- Service Estimate Template
- Work Estimate Template
- Job Estimate Template
- Project Estimate Template
- Contractor Estimate Template
- Consultant Estimate Template
- Business Estimate Template
Estimate making rules
When making an estimate, first calculate a rough amount and present it to the other party.
After that, you will create proposals and specifications to ensure that both parties do not misunderstand and then further squeeze the estimate’s contents.
When presenting the estimate, you must accurately describe the items, quantity, unit price, etc.
Tips While making an Estimate
Estimates are the last barrier for prospects to trust and turn into customers. Here are some key tips to keep in mind to make an estimate that your prospects can rest assured of.
Is the estimate easy to understand?
Make sure you can see the essential parts in an instant. The estimated amount will come to your eyes first, but you need to write the details clearly to understand the rationale clearly.
If there is a discrepancy with the items to be confirmed, it may cause trouble later. You can avoid problems by creating an easy-to-understand estimate for each opportunity step.
Is there a basis for estimating the delivery date and price?
It is a common problem that the delivery date and price stated in the estimate deviate from reality. Sales reps should not overdo it to get an order. The delivery date and price of the estimate will be decided in consultation with the person in charge of development and the person in charge of the entire project.
If you find that the delivery date and price set in the estimate cannot be completed in the middle of the process, we will consult with the customer again at that stage and approve the change in the delivery date and the billing amount.
Can you provide it as soon as requested?
Depending on the prospective customer, we may have already collected information on the website, etc., and are considering purchasing specifically. Other prospects want to know how much it will cost as the first step in their consideration. Therefore, it’s a good idea for sales reps to be ready to offer when they enter a deal.
What to include in an estimate?
An estimate is submitted to a business partner when a job request is received. It shows what kind of product or service you ordered and how much it will cost. The quotation should contain the following items.
- First, enter the title “Quotation” so that you can see that this document is an estimate.
- Enter the business partner who requested the quotation. If the business partner is an individual, add “Mr.” If necessary, the name of the department and the name of the person in charge may be included.
- In some cases, the parent company may request a quotation from the subsidiary. In that case, the name of the person requesting the estimate and the person submitting the estimate may differ.
- Confirm the recipient’s name in advance so as not to be rude to the other party.
- In the case of documents of the same contract, assign the same number as other documents (estimate, statement of delivery, etc.).
- It is also useful for identifying the requested quote, such as when submitting quotes for multiple projects for the same customer.
- Stamp your seal in the name column. In some cases, the seal of the person in charge or superior may also be stamped.
- Enter the expiration date of the quotation. In some cases, the date is specified, but in other cases, it is written as “within one month after ordering.”
- Describe the product name, color, size, quantity, etc., in as much detail as possible. In the case of services, it may be difficult to describe the quantity and unit, in which case we omit it or describe it as “one set.” If it is a service, describe the content of the service.
- Specify the breakdown of the total amount, such as subtotal and consumption tax.
- If there is anything worth noting, write it in the margin. For example, the conditions that were assumed when creating the quote. And if there are circumstances where the estimated amount will change if the assumptions are different, be sure to describe that point as well.
Download The Estimate Template For Free
Quotations, invoices, and receipts are documents that are indispensable for conducting transactions. Issuing these documents will also build relationships with your business partners, so don’t waste your time. Download our beautiful and fully-editable estimate templates for free.
