Creating Purchase Quotations

Creating Purchase Quotations

Purchase quotations are essential documents that allow you to request pricing information from suppliers before making a purchase. In EquiBillBook, creating purchase quotations helps you compare vendor quotes and make informed purchasing decisions.

What is a Purchase Quotation?

A purchase quotation is a formal document that suppliers provide in response to your purchase request. It outlines the products or services they're offering, along with prices, terms, and conditions. In EquiBillBook, you can create purchase quotations internally to track your vendor communication and comparison process.

Step-by-Step Guide to Creating a Purchase Quotation

Step 1: Navigate to Purchase Quotation

To create a new purchase quotation:

1. Go to the Purchase module in the main menu
2. Click on "Purchase Quotation" or "Quotation"
3. Click the "New Quotation" or "Create Quotation" button

Step 2: Select Supplier

Choose the supplier for whom you're creating the quotation:

• Select an existing supplier from the dropdown list
• Or create a new supplier by clicking "Add New Supplier"
• Supplier details will automatically populate if available

Step 3: Enter Quotation Details

Fill in the basic quotation information:

• Quotation Date: The date when the quotation is created (defaults to today)
• Quotation Number: Auto-generated based on your numbering rules, or enter manually
• Reference Number: Optional reference number for your internal tracking or supplier reference
• Branch: Select the branch/location for this purchase
• Payment Terms: Select payment terms (e.g., Net 30, Net 60, Due on Receipt)

Step 4: Add Items

Add products or services to your quotation:

1. Click "Add Item" or select from the item list
2. Enter the item name, quantity, and unit price
3. Tax rates will be applied automatically based on item settings
4. Add discounts if applicable (percentage or fixed amount)
5. Add multiple items as needed

Step 5: Apply Additional Charges (Optional)

You can add additional charges such as:

• Shipping charges
• Packaging charges
• Installation charges
• Customs duties (for imports)
• Any other applicable fees

Step 6: Review Totals

Check the quotation summary:

• Subtotal (before tax)
• Tax amounts (CGST, SGST, IGST, etc.)
• Additional charges
• Discounts applied
• Round-off adjustments
• Grand total

Step 7: Add Shipping and Delivery Details

Include shipping information:

• Shipping address
• Shipping method
• Expected delivery date
• Shipping status

Step 8: Add Notes and Terms

Include important information:

• Payment terms
• Delivery terms
• Special conditions or notes
• Supplier instructions

Step 9: Save the Quotation

Once all details are entered:

• Click "Save" to save as draft
• Or click "Save & Send" to save and send to the supplier (if email integration is enabled)
• The quotation will be saved with a "Draft" status

Purchase Quotation Features

• Item Management: Add multiple items with different quantities and prices
• Tax Calculation: Automatic tax calculation based on item and supplier settings
• Discounts: Apply item-level or document-level discounts
• Multi-currency: Create quotations in different currencies if enabled
• Multi-branch: Create quotations for different branches/locations
• Status Management: Track quotation status (Draft, Sent, Accepted, Declined, Converted)
• Document Attachments: Attach supplier documents or supporting files

Best Practices

• Always include clear item descriptions to avoid misunderstandings
• Specify quantities and units of measurement accurately
• Include all relevant terms and conditions
• Review all calculations before sending to suppliers
• Keep track of quotation status to follow up with suppliers
• Use reference numbers for easy tracking and matching with supplier responses
• Compare multiple quotations before making purchasing decisions

What's Next?

After creating a purchase quotation, you can:

• Send it to the supplier via email
• Print or download as PDF
• Compare it with other vendor quotes
• Convert it to a Purchase Order when approved
• Convert it directly to a Purchase Bill
• Track its status and manage the quotation lifecycle

Related Articles

Learn more about:

• Comparing Vendor Quotes
• Converting Quotation to Order
• Purchase Quotation Management