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Finance

Estimates

Intermediate6 min read

Create professional quotes for your clients, track their approval status, and convert accepted estimates into invoices with one click.

Key concepts

  • Estimate: A formal price quote sent to a client before work begins. It contains line items, totals, and an expiration date.
  • Estimate Number: An auto-generated identifier (e.g., EST-001). It increments automatically.
  • Status Workflow: Draft -> Sent -> Accepted / Rejected -> Converted to Invoice. You can also Cancel a draft.
  • Line Item: A single row on the estimate -- a description, quantity, unit rate, and calculated amount. Each line can have its own discount and a per-line tax rate (from Settings > Tax).
  • Discount: Can be applied at the line-item level or the entire estimate level, as a flat amount or a percentage. The estimate-level discount is applied before tax.
  • Tax: There is no document-level tax. Tax is set per line item using a tax rate from Settings > Tax; the estimate's tax total is the sum of each line's tax. A Tax Inclusive mode is also supported, where line prices already contain tax and it is shown for information only rather than added again.
  • Shipping: An optional flat charge added to the total, untaxed.
  • Template: Saved company branding (name, address, logo, phone, email) applied to the estimate's header for PDF export.
  • Valid Until: The date after which this estimate expires.
  • Multi-currency: You can create estimates in any supported currency. The system calculates the equivalent in your base currency.
How to

Step-by-step

Creating an Estimate

  1. Navigate to Finance > Estimates.

  2. Click New Estimate.

  3. You will see a form with these sections:

    Header section:

    • Estimate Number -- pre-filled, but editable
    • Template -- choose a saved template or the default company info
    • Bill To -- type the customer/client name
    • Ship To -- optional shipping address
    • Estimate Date and Valid Until
    • PO Number -- optional purchase-order reference
    • Currency -- defaults to your base currency; change if needed

    Line items section: 4. Click Add Line Item. 5. Enter Description, Quantity, and Rate. 6. The Amount calculates automatically (quantity x rate). 7. Optionally add a per-line Discount (click the discount icon on the row) and select a Tax Rate from the dropdown (rates come from Settings > Tax). 8. Add more line items as needed.

    Totals section: 9. Review the Subtotal. 10. Optionally add an Estimate Discount (flat or percentage) -- it is applied before tax. 11. Review the Tax Total (the sum of each line's tax). Toggle Tax Inclusive if your line prices already include tax. 12. Set Shipping if applicable. 13. Review the Total.

  4. Click Save to create the estimate as a Draft.

Viewing and Managing Estimates

  1. Navigate to Finance > Estimates to see the full list.

  2. The Stats Strip shows Total Amount, Accepted, Pending, Declined, and Converted to Invoice values.

  3. Use the filter tabs to view by status: All, Draft, Sent, Accepted, Rejected, Converted.

  4. Use the search bar to find estimates by number or client name.

  5. Filter by currency or date range using the controls in the filter bar.

  6. Click any row to open the estimate detail.

Updating the Status

  1. Open an estimate detail.

  2. Use the status actions to change it through the workflow:

    • Draft -> Sent: mark the estimate as sent to the client
    • Sent -> Accepted: the client approved the quote
    • Sent -> Rejected: the client declined
    • Any -> Cancelled: void the estimate

  3. Each status change is logged in the estimate's history.

Converting an Estimate to an Invoice

  1. Open an Accepted or Sent estimate.

  2. Click Convert to Invoice (or use the dropdown menu on the list page).

  3. You will be redirected to the new invoice form, pre-filled with the estimate's line items, customer, and totals.

  4. Review and adjust any fields, then save the invoice.

  5. The estimate status changes to Converted to Invoice, and the two documents are linked.

Exporting / Importing Estimates (Excel, CSV)

  1. From the estimates list, open the Export menu.

  2. Choose xlsx (Excel) or csv to download your estimates as a spreadsheet. The export includes EU/VAT fields where present -- seller and customer VAT number, customer registration number, reverse charge flag, and VAT exemption note.

  3. To bring estimates in, use the Import action and upload an Excel file, then map the columns and confirm.

    Note: estimates support spreadsheet export and import only. XML e-invoice export (UBL / ZUGFeRD / XRechnung / Vietnam) is invoice-only -- there is no XML format for estimates.

Managing Templates

  1. From the estimates list, click Templates in the top-right.

  2. Create a new template with your company name, address, email, phone, website, and logo.

  3. When creating a new estimate, select the template from the Template dropdown.

Exporting as PDF

  1. Open an estimate detail.

  2. Click Download PDF or Print in the action bar.

  3. Choose the PDF language and template before exporting.

Calculation Logic

  1. Line item amount = quantity x rate
  2. Line item discount = flat amount, or (amount x discount%)
  3. Line item tax = (amount - discount) x line tax rate
  4. Subtotal = sum of all line item amounts
  5. Estimate discount = flat amount, or (subtotal x discount%)
  6. Tax total = sum of every line's tax. Because the discount is applied before tax, the tax total is reduced proportionally by the discount ratio.
  7. Total (tax-exclusive) = (subtotal - discount) + tax total + shipping
  8. Total (tax-inclusive) = (subtotal - discount) + shipping (tax already included in line prices)

Tips & best practices

  • Set a realistic Valid Until date to create urgency -- clients are more likely to respond before the deadline.
  • Set up your tax rates in Settings > Tax first, then select a rate per line item when building an estimate.
  • When you convert an estimate to an invoice, the original estimate remains intact for your records.
  • The Duplicate action (accessible from the row menu) lets you quickly create a similar estimate for a different client.
  • Multi-currency estimates show both the original currency amount and the base-currency equivalent on the list page.
  • Keep an eye on the Declined stat -- if it grows, consider reviewing your pricing or estimate detail level.

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