Invoice vs quote – what’s the difference?

Short answear

With the Quote, you show your potential customers what to expect if they order from you. If they accept your offer, and you are done with the work, you will create an Invoice, based on the Quote.

A great invoice software can create an Invoice from a Quote.

Long answear

The quote is the “forerunner” of the invoice. It is nothing more than an offer to the customer for our product or service that can be purchased. In essence, this is a business proposal that the customer can accept or reject. Quotations for the exhibition are part of the daily work among many other tasks.

 

A quote is an offer that is issued at the request of a customer by prior arrangement. This differs from a traditional offer, such as the prices on websites, in that these are created unilaterally by the particular company. The quote can also apply to a product and service. Customers usually ask several companies for a quote for the same job to compare terms and choose the option that works best for them.

 
A quote should include the following:

• Description of the goods to be delivered or the service/work to be performed

• A fixed or flexible price (indicate whether VAT is included in the price)

• Discounts (if any)

• The validity period of the quotation

A Quote is not required to be issued only if you wish or if the customer requests it.

 

Invoice is one of the best things in a business. 

You have to make this when you’re done with the work, you sold something, and it’s time to get your money. In some cases, you can ask for your money in advance but that’s a different story.

It is a legal document certifying that a sale has taken place between the trader (between you) and the buyer.

Since an invoice is a legal document, so are mandatory elements. This may vary from country to country, but these are the basic data that are required to be included almost everywhere.

Here is what an invoice should contain:

 

Invoice details:

Unique Invoice number
Issued date
Due Date
Payment method (optional but suggested)

Your details:

Company name or/and your name and the address. 

Tax ID

Bank account number (optional)

Phone number (optional)

Website (optional)

Logo (optional but heavily suggested!)


Customer details

Name and address

Tax ID (optional)

Bank account number (optional)

Phone number (optional)

Website (optional)

Products and sercives (items) details:

Name of the items

Quantity

Price
TAX if it’s contains
Discount if it’s contains

Well, that’s a lot of details, it takes a really lot of time and effort to create only one invoice, so you don’t even think about filling your invoices in paper or an excel sheet, because you will kill your business.

Today you can choose from a big variety of invoicing software, each has its strength and weakness. 

 

If you want a really fast method, check out BizXpert, because you can create your invoice with only 3 clicks. That’s right 1 click for selecting your saved customer, 1 click for selecting your saved item, and 1 click to save or send the invoice. But if you want to add more items, or accept online payments, or attach a document to your invoice it will be more click, but still the fastest in the whole market.

 

Choose wisely and if you have any question about the invoicing or any business process, feel free to ask us, we are looking forward to hearing from you 🙂

 

Have a very nice day!

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