Purchase Quotation Management

Purchase Quotation Management

Effective management of purchase quotations helps you track vendor communications, compare offers, and make informed purchasing decisions. EquiBillBook provides comprehensive tools to manage your purchase quotations throughout their lifecycle.

Understanding Quotation Status

Purchase quotations go through various statuses during their lifecycle. Understanding and managing these statuses is crucial for effective quotation management.

Status Types

• Draft: Quotation is being prepared and not yet finalized
• Sent: Quotation has been sent to the supplier for review
• Accepted: Quotation has been accepted and is ready for conversion
• Declined: Quotation has been declined or rejected
• Converted: Quotation has been converted to a purchase order or bill

Viewing Purchase Quotations

Quotation List View

Access the quotation list to see all your purchase quotations:

1. Navigate to Purchase → Purchase Quotation
2. View the list of all quotations with key information:
   • Quotation number and date
   • Supplier name
   • Total amount
   • Status
   • Reference number

Filtering Quotations

Use filters to find specific quotations:

• By Status: Filter by Draft, Sent, Accepted, Declined, or Converted
• By Supplier: View quotations from a specific supplier
• By Date Range: Filter quotations within a specific date period
• By Amount: Filter by quotation value range
• By Branch: Filter quotations by branch/location

Searching Quotations

Use the search functionality to find quotations:

• Search by quotation number
• Search by supplier name
• Search by reference number
• Search by item names

Managing Quotation Status

Updating Status

To update a quotation's status:

1. Open the quotation you want to update
2. Click on the status dropdown or action menu
3. Select the new status:
   • Mark as Sent: When you've sent the quotation to the supplier
   • Mark as Accepted: When you've accepted the quotation
   • Mark as Declined: When you've declined the quotation
4. Confirm the status change

Bulk Status Updates

Some status updates can be performed in bulk:

• Select multiple quotations from the list
• Use bulk actions to update status
• Apply filters to update quotations matching specific criteria

Editing Purchase Quotations

When Can You Edit?

• Draft quotations can be freely edited
• Sent quotations may be editable depending on system settings
• Accepted quotations may have restricted editing
• Converted quotations typically cannot be edited

Common Edits

You may need to edit:

• Item quantities or prices
• Additional charges or discounts
• Terms and conditions
• Shipping details
• Notes and special instructions

Deleting Purchase Quotations

When to Delete

• Delete draft quotations that are no longer needed
• Remove duplicate quotations
• Clean up test or erroneous quotations

Deletion Considerations

• Converted quotations should not be deleted (maintain audit trail)
• Consider archiving instead of deleting for record-keeping
• Check for related documents before deletion
• Ensure you have proper permissions to delete

Organizing Quotations

Using Reference Numbers

Reference numbers help organize related quotations:

• Use consistent reference numbers for quotations from the same purchase request
• Include project codes or purchase request numbers
• Use reference numbers to group quotations for comparison

Adding Notes

Use notes to add important information:

• Internal notes for your team
• Supplier communication notes
• Comparison notes when evaluating multiple quotations
• Decision rationale

Printing and Exporting

Printing Quotations

Print quotations for:

• Physical filing and records
• Supplier communication
• Internal review and approval
• Comparison purposes

Exporting Quotations

Export quotations to:

• PDF format for sharing and archiving
• Excel format for analysis and comparison
• Email to stakeholders

Quotation Workflow Management

Standard Workflow

1. Create: Create quotation as Draft
2. Review: Review and finalize quotation details
3. Send: Mark as Sent when shared with supplier
4. Evaluate: Compare with other quotations
5. Decision: Accept or Decline
6. Convert: Convert accepted quotations to orders or bills

Tracking Quotation Progress

Monitor quotation progress:

• Check status regularly
• Set reminders for follow-ups
• Track time since quotation was sent
• Monitor conversion rates

Reporting and Analytics

Quotation Reports

Generate reports to analyze:

• Total quotation value by supplier
• Quotation conversion rates
• Average quotation amounts
• Quotation trends over time
• Supplier performance

Best Practices for Quotation Management

• Maintain Status Accuracy: Keep quotation statuses up to date
• Organize with References: Use consistent reference numbering
• Regular Review: Review and update quotations regularly
• Document Decisions: Add notes explaining acceptance or rejection
• Archive Completed: Archive converted or declined quotations
• Follow Up: Set reminders for quotation follow-ups
• Compare Regularly: Compare quotations before making decisions
• Maintain Audit Trail: Keep all quotations for record-keeping

Common Management Tasks

Finding Old Quotations

• Use date filters to find quotations from specific periods
• Search by supplier name or quotation number
• Filter by status to find converted or declined quotations

Comparing Multiple Quotations

• Use reference numbers to group related quotations
• Open multiple quotations in separate tabs
• Export to Excel for side-by-side comparison

Cleaning Up Draft Quotations

• Regularly review draft quotations
• Delete or finalize old drafts
• Keep only relevant draft quotations

Related Articles

Learn more about:

• Creating Purchase Quotations
• Comparing Vendor Quotes
• Converting Quotation to Order