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Managing Quotes

By reading this article, you will understand the importance of quotes and their working in the CRM.
R
Rashmi Kashyap
6 May, 2020 - Updated 2 years ago
Table of Contents

Introduction to Quotes

A quote is a formal document presented by the company’s sales team to a potential customer, upon request for a quote. It contains details about products and services, prices, taxes, terms, and discounts.

In a Deal Journey, a Quote is generated with Deal Revenue Line Items and shared with the potential customer for his review. You can revise a Quote based on the changes requested by the customer regarding discounts or terms and conditions. Once the Quote is reviewed and accepted by the customer, the Deal advances to the next stage.

Feature Availability and Limits

 

Sales Starter

Sales Professional

Sales Enterprise

One Professional

One Enterprise

Feature Availability

Quotes

Taxes and Discount Availability

Group Taxes

Individual Taxes

Group Discount

Individual Discount

List View in Quotes

List View is the default view that sorts and lists all quotes based on the last modified quote.
  • Columns in List View 

The columns that are visible by default in the List View are :

  1. Subject- Displays the name of the quote.

  2. Deal Name- Displays the name of the deal to which the quote is created.

  3. Quote Stage- Displays the stage at which the quote is present.

  4. Valid Until-Displays the date until which the quote is valid.

  5. Organization Name- Displays the name of the organization.

  6. Assigned To- Displays the user to whom the quote is assigned.

  7. Total- Displays the amount mentioned in the quote.

  • List actions

You can perform many quick actions such as Edit, Delete, Call, Follow, etc. on the quote records in the List View.
To learn more about List View actions in Vtiger CRM, click here.

Ways of viewing Quote records

  • Summary View

Summary View is the View that appears when you click a particular record from the List View. The Summary View displays a collection of all the key information of the record.
The Summary View can be divided into four sections. Each section has a particular functionality.

  • Summary View Actions

    • Follow: You can follow any Price Book record to get updates on all the activities performed on that record.

    • Tags: You can add tag names to the record to identify the record quickly.

    • Print: You can print the Quote or save it as a PDF for future references.

    • Duplicate: You can duplicate the current record and have all the details reflected into a new record.

    • Delete: You can delete a record by clicking this button.

  • Quote document

    The generated quote will be visible here.

  • Do button

When you click on the Do button on the right-hand top corner of the Summary View, you will see the following:

  • Reach out now-You can get in touch with the contact via Email, Call or SMS at the moment.

  • Reach out later- You can schedule an email, event or task with the contact.

  • Add or Create- You can add or create other modules related to the quote.

  • Share- You can share the quote as a link or as an attachment.

  • Widgets

    • One View- All the modules related to the quote are displayed here. 

    • Tasks-All the tasks related to the quote are displayed here. You can also do a new task from here by clicking the + button.

    • Events- All the events related to the quote are displayed here. You can also see a new event from here by clicking the + button.

    • Activity-All the activities made on the quote are displayed here. Here you can add comments related to the quote.

    • Analytics-You can view all the metrics related to the quote in the form of charts, mini-lists, etc. You can also create new ones here.

    • Documents- You can create a new document or add an existing document to the quote. All the related document details are displayed here.

    • Sales Ops- You can view the subscriptions linked to the quote or create a new subscription.

    • Settings- You can change the template of the quote here.

  • Deep Dive View

You can view and edit all the information about the Quote record by clicking the Deep Dive button in the Summary View of the record.

Important Fields in Quotes

 

Field name

Description

Subject

Mandatory field
Displays the title of the quote.

Quote Stage

Mandatory field
It reflects the lifecycle of a quote from Draft state to the Accepted state.

  • Draft: The quote is created.

  • Reviewed: The quote is reviewed by the sales manager before it is sent to the customer.

  • Delivered: The quote is delivered to the customer.

  • Accepted: The quote is accepted by the customer.

  • Rejected: The quote is denied by the customer.

Organization Name

Mandatory field
Displays the organization to which the quote is associated with.

Related To

Displays the name of the contact related to the quote.

Assigned To

Mandatory field
Displays the user or the group to whom the quote is assigned.

Billing Address

Mandatory field
It is the address where bills are sent to and connected to a credit/debit card. Hence, the billing address by default should reflect the related Deal's company address.

You can enter the billing address manually or by clicking the Select an option drop-down and selecting one of these options:

  • Copy from Organization

  • Copy from Related To

  • Same as Shipping Address

Shipping Address

Mandatory field
It is the address where the customer would like the quote to be delivered. By default, the shipping address will be the same as the billing address.

You can enter the shipping address manually or by clicking the Select an option drop-down and selecting one of these options:

  • Copy from Organization

  • Copy from Related To

  • Same as Shipping Address

Item Name

Mandatory field
The name of the product or service against which the quote is created.

Quantity

Mandatory field
The count of the products or service that was returned by the customer.

How to Create a Quote

Listed below are the ways from which you can create a quote. 

  1. From Quotes’ List View 

You can use the +Add Quote button to create a new quote. You can find it on the top right corner in the quotes’ List View.

  1. Click the Menu icon.

  2. Go to the Sales tab. 

  3. Select the Quotes module.

  4. Click the +Add Quote button.

  5. Fill in all the necessary details.

  6. Click Save.

  1. From Deals

You can create a quote through a deal with the Do button. This option provides a way to add a quote either by creating from scratch or by duplicating one of the recently created quotes. 
Follow these steps to add a quote from the do button in deals:

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Deals module.

  4. Open any particular deal.

  5. In the Summary View, click the Do button on the right-hand side top corner of the screen.

  6. Click Add or Create button.

  7. Click on Quotes.

  8. Enter all the necessary details.

  9. Click Save.

This newly created quote would be linked to the deal.
 

Quote Configuration

You can configure Taxes, Tax regions, Shipping Charges (if any) and Terms and Conditions from the Settings > Inventory Management section. These actions are limited to the Admin role.

Refer to the Tax management article to learn how to set up Taxes and other Settings.

  1. Tax regions: Taxes can be set based on a region. Regions are set up in the Tax Settings screen.

  2. Currency: It is the same as the currency defined in the Deal. Quote Line item currency is the same as the record level currency. 

  3. Tax mode:

    1. Group Taxes: If there are multiple products/services in the inventory, group taxes help in populating tax rates according to specific tax calculations.

    2. Individual Taxes: You can enable this option while creating a Quote. You can apply taxes for individual items in a Quote by clicking the Configure button in the Quote.

Note: The default Tax mode is set based on the option set in the Tax Management page by the administrator. This can be overridden on a Quote level from the Quote Configuration pop up.

  1. Price Books: Price Books allows you to define different prices for Products and Services. The prices of the items can vary anytime depending on the customers and their needs.

When a Price Book is selected or changed, the system updates the unit prices of all line items based on the selected Price Book.
To know more about Price Books, click here.

  1. Discounts

    1. Group Discounts: Similar to Group Taxes, Group Discounts are applied to Products (or) Services on the Quote level.

    2. Individual Discounts: Contrary to group discounts, Vtiger CRM provides an option to apply Discounts on an individual item based on its List Price. 

  2. Shipping Charges: Shipping  Charges is the additional amount charged by the company’s sales team for shipping the product to the customer.

  3. Adjustments: This option allows to round off the total amount to the next value or the previous value based on the decimal number.

Note: You can customize and add or remove fields by going to the Module Layouts and Fields under Settings.

Adding Line Item Records

You can new Line Item records like a new product/service or a new section in the existing quote by editing the Item Details block.
Follow the steps mentioned below to add Line item records:

  • How to add a new Product or Service

  • Click the Menu icon.

  • Go to the Sales tab.

  • Select the Quotes module.

  • Click +Add Quote.

  • Fill all the necessary details.

  • Open the recently created quote.

  • Click the Deep Dive button

  • Go to the Item Details block.

  • Click Add row.

  • Select the Product or Service.

Refer to the Quote Configuration section in this document to understand Tax management, Price books, etc.

  • How to add a new Section

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. Select any particular quote. 

  5. Click the Deep Dive button.

  6. Go to the Item Details block.

  7. Click Add Section.

Quote Synchronization with a Deal

When you enable the Sync with Deal button, all line items in the quote will be synced with the deal it is related to. This helps you avoid manual errors and prevents duplication of data entry.
To know more about deal revenue line items and quote syncing, click here.

 

Note: There can be many quotes related to a deal but only one quote can be synced.

Actions Possible on a Quote

You can perform the following actions on a quote:

  • Share a Quote 

You can share a quote with a customer by sending a link to the quote or by sending the quote itself as an attachment.

  1. As link

Follow these steps to share the quote as a link:

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. Click the Do button in the Summary View.

  5. Select Share.

  6. Select Share as link.

  7. A mail compose window opens with the quote link.

  8. Enter the recipient's details and click Send.

  1. As attachment

Follow these steps to share the quote as an attachment:

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. Click the Do button in the Summary View.

  5. Select Share.

  6. Select the Share as attachment.

  7. A mail compose window opens with the quote attachment.

  8. Enter the recipient's details and click Send.

  • Generate related documents

  1. Generate a Sales order

    The Sales Order (SO), is issued by the company’s sales team to the customer. You can generate
    a sales order for products and/or services.
    Vtiger CRM gives an option of generating Sales orders from within the quote.

    Follow these steps to generate a SO:

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. Click the Do button in the Summary View.

  5. Select Add or Create.

  6. Select  Sales Orders.

  7. Fill in all the necessary details.

  8. Click Save.

The SO will be created and linked to the quote.

  1. Generate a Purchase order

    A Purchase order (PO), is the first official offer issued by a customer to the company’s sales team indicating types, quantities, and agreed prices for products or services.
    Follow these steps to generate a PO:

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. Click the Do button in the Summary View.

  5. Select Add or Create.

  6. Select  Purchase Orders.

  7. Fill in all the necessary details.

  8. Click Save.

The PO will be created and linked to the quote.

  1. Generate an Invoice

An Invoice is a non-negotiable itemized statement issued for the products or services rendered to the customer.
Follow these steps to generate an Invoice:

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. Click the Do button in the Summary View.

  5. Select Add or Create.

  6. Select Invoices.

  7. Fill in all the necessary details.

  8. Click Save.

The invoice will be created and linked to the quote.

  1. Generate a Subscription

A subscription is the amount of money that the customer has to pay regularly in order to receive a product or a service.
Follow these steps to generate a Subscription:

  • Click the Menu icon.

  • Go to the Sales tab.

  • Select the Quotes module.

  • Click the Do button in the Summary View.

  • Select Add or Create.

  • Select  Subscriptions.

  • Fill in all the necessary details.

  • Click Save.

The subscription will be created and linked to the quote.

  • Export

Follow these steps to export a quote:

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. In the List View, Hover over any quote record to display the radio button on the left side.

  5. Click the radio button.

  6. Click the Export button.

  7. Select any one of the following options:

    1. Export Selected Records- This option will export only the selected record.

    2. Export data in current page- This option will export the records on the current page.

    3. Export all data- This option will export all the data in all the pages of the Project Tasks module.

The exported record will be saved on your local system 

  • Print

Follow these steps to print a quote :

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. Open any quote record.

  5. Click the More button.

  6. Click the Print button.

  7. You can perform any of the below options:

    • Edit & Export- You can edit the quote and export it to your local system.

    • Email with PDF- You can email the quote record as a PDF to the contact.

    • Print- You can print the quote and keep a hard copy.

    • Save as PDF- You can save the quote as a PDF on your local system.

How can I change the template of the quote

There are two ways from which you can change the template of a quote.
  1. Follow these steps to change the template of a quote from the print quote screen:

This is a temporary change only until the quote is printed.

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. Open any quote.

  5. Click the More button.

  6. Click the Print button.

  7. Select the template you want from the list of all templates.

  8. You can perform any of the below options:

    1. Edit & Export- You can edit the quote and export it to your local system.

    2. Email with PDF- You can email the quote record as a PDF to the contact.

    3. Print- You can print the quote and keep a hard copy.

    4. Save as PDF- You can save the quote as a PDF on your local system.

  1. Follow these steps to change the template of the quote from the settings widget:

This is a permanent change and will be applied to the quote immediately.

  1. Click the Menu icon.

  2. Go to the Sales tab.

  3. Select the Quotes module.

  4. Open any quote.

  5. Go to the Settings Widget.

  6. Click the Template applied drop-down.

  7. Select the template of your choice.

The template will be applied to the quote instantly.

One View in Quotes

One View widget is a one-stop destination to view all the important modules related to Quotes.
One View widget in the Quotes module will show the following details:

  • Related Contact details - Parent contact details

  • Related Organization details - Parent company Acme details are shown in this widget

  • Related Deal data - Parent deal from which this quote is created

  • Related SO - Related SO details generated from this quote

To learn more about One View in Vtiger CRM, click here.

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