Creating and Managing Sales Estimates in CRMLeaf

 

An estimate in sales is a preliminary document provided to a potential customer that outlines the anticipated cost of a product or service. It is not a final bill but rather an informed approximation based on the current scope of work, pricing, and available details.

Estimates typically include:

• A breakdown of products or services offered
• Quantities, unit prices, and total projected costs
• Any applicable taxes, discounts, or additional fees
• Expected timelines or delivery schedules (if relevant)

The purpose of an estimate is to give the customer a clear understanding of what they can expect to pay, helping them plan and make decisions before committing to a purchase. It also helps sales teams set transparent expectations and build trust with the customer.

It’s important to note that an estimate is not legally binding. The final price may change depending on adjustments in scope, availability, or other factors discussed later in the sales process.

In short, an estimate is a valuable tool that supports open communication between the seller and buyer and often serves as the first step toward a formal quote or agreement.

How to Create an Estimate in Sales?

An estimate provides your customer with a projected cost for products or services before any formal agreement is made. Follow the steps below to create an accurate and professional estimate:

 Estimate Details

Fill in the general details of the estimate:

• Estimate Number: A unique identifier for tracking (e.g., EST#003).
• Valid Till: The expiration date of the estimate. After this date, pricing may no longer apply.
• Currency: Select the appropriate currency for the estimate.
• Client: Choose or enter the client’s name.
• Calculate Tax: Enable this option if applicable taxes need to be automatically calculated.
• RFP : (Request for Proposal) Enter the reference number if the estimate is linked to a specific RFP.

Add Item Details

Add the products or services to be estimated:

• Item Name: Enter the name of the item or service.
• Description (Optional): Add any additional information to clarify the item.
• Quantity: Specify the number of units.
• Unit Price: Enter the cost per unit.
• Tax: Select applicable tax rates (e.g., GST 18%, CGST 18%, VAT 10%, IGST 10%, UTGST 10%).
• Amount: This is automatically calculated as Quantity × Unit Price + Tax (if enabled).
• Choose a File (Optional): Attach a related file, such as specifications or supporting documents.
• Click Add Item to include it in the estimate.

 Review Totals

Once all items are added, review the following:

• Sub Total: The total before any discounts or taxes.
• Discount: Enter any applicable discount amount or percentage.
• Tax: This will be calculated based on the selected tax rates for each item.
• Total: The final estimated cost after discounts and taxes.

Add Additional Information

• Note for the Recipient: Include any special instructions or messages for the client.
• Terms and Conditions: Outline the terms that apply to this estimate, such as payment terms, delivery conditions, or service limitations.

 Finalise and Send

• After reviewing all the details:
• Double-check for accuracy.
• Save the estimate.
• Send it to the client through your preferred method (email, download, or client portal).
• Reminder: An estimate is not a binding contract. It’s intended to help the client understand projected costs before proceeding.

How to Export an Estimate to Excel?

Exporting an estimate to Excel allows you to save, share, or edit the estimate details in spreadsheet format. This is especially useful for internal reporting, client reviews, or further customization. Follow the steps below to export an estimate to an Excel file:

Steps to Export an Estimate to Excel

•  Navigate to the Estimate Section
  Go to the list or dashboard where all your estimates are displayed.
• Select the Estimate
  Choose the specific estimate you want to export. Make sure all details—such as client information, item descriptions, quantities, taxes, and totals—are correct.
• Click Export
  Locate and click the Export or Download button. In most systems, this option is found near the top right or within the estimate options menu.
• Choose File Format: Excel (.xlsx or .xls)
  If given an option, select Excel as the export format. The system will generate a spreadsheet version of the estimate.
• Download and Save
  The Excel file will either download automatically or prompt you to choose a save location. You can rename the file as needed for easier reference.

What’s Included in the Exported Excel File

The Excel file will typically include:

• Estimate Number
• Client Name and Details
• Estimate Date and Valid Till Date
• Currency
• Itemized List
• Additional Notes
• Terms and Conditions