Quotation Status Management

Quotation Status Management

Effectively managing quotation statuses helps you track your sales pipeline, follow up with customers, and make informed business decisions. EquiBillBook provides a comprehensive status management system for sales quotations.

Understanding Quotation Statuses

Quotation statuses indicate the current stage of a quotation in your sales process. Each status provides valuable information about where the quotation stands.

Available Quotation Statuses

1. Draft

When it's used: When a quotation is being created or prepared but not yet finalized.

• Quotation is still being edited
• Not yet sent to the customer
• Can be modified freely

Actions available: Edit, Delete, Send, Convert

2. Sent

When it's used: When the quotation has been sent to the customer (via email or other means).

• Quotation is awaiting customer response
• Customer has received the quotation
• Ready for follow-up

Actions available: View, Resend, Convert, Update Status

3. Accepted

When it's used: When the customer has accepted the quotation.

• Customer has agreed to the terms
• Ready to convert to order or invoice
• May require confirmation from your side

Actions available: Convert to Order, Convert to Invoice, View

4. Rejected

When it's used: When the customer has declined the quotation.

• Customer is not interested
• May need to create a revised quotation
• Useful for tracking lost opportunities

Actions available: View, Create Revised Quotation, Archive

5. Converted to Order

When it's used: When the quotation has been converted to a sales order.

• Quotation details have been transferred to an order
• Order fulfillment process has begun
• Quotation is linked to the created order

Actions available: View Quotation, View Order, Track Order

6. Converted to Invoice

When it's used: When the quotation has been converted directly to a sales invoice.

• Quotation details have been transferred to an invoice
• Invoice is ready for billing
• Quotation is linked to the created invoice

Actions available: View Quotation, View Invoice, Process Payment

7. Expired

When it's used: When the quotation validity period has passed.

• Quotation validity date has been exceeded
• May need to create a new quotation
• Can still be converted if customer accepts late

Actions available: View, Create New Quotation, Extend Validity

How to Update Quotation Status

Method 1: Manual Status Update

1. Navigate to Sales → Sales Quotation
2. Open the quotation you want to update
3. Look for the "Status" dropdown or status section
4. Select the new status from the dropdown
5. Click "Update Status" or "Save"

Method 2: Automatic Status Updates

Some statuses are updated automatically:

• Sent: Updated when you send the quotation via email
• Converted to Order: Updated when you convert to order
• Converted to Invoice: Updated when you convert to invoice
• Expired: Updated automatically when validity date passes

Status Workflow Best Practices

Recommended Workflow

1. Draft → Create and prepare the quotation
2. Sent → Send to customer and update status
3. Accepted/Rejected → Update based on customer response
4. Converted → Convert to order or invoice when ready

Tracking and Follow-up

• Regularly review quotations in "Sent" status for follow-up
• Follow up on "Accepted" quotations to convert them
• Analyze "Rejected" quotations to improve future quotes
• Monitor "Expired" quotations and create new ones if needed

Filtering and Searching by Status

You can filter quotations by status to:

• View all draft quotations
• See pending quotations awaiting response
• Track converted quotations
• Identify expired quotations
• Analyze rejected quotations

Status Reports

Use status information in reports to:

• Track conversion rates (Sent → Accepted → Converted)
• Identify bottlenecks in your sales process
• Measure quotation effectiveness
• Plan follow-up activities
• Forecast sales based on accepted quotations

Status Notifications

You can set up notifications for:

• Quotations approaching expiry date
• Quotations that have been sent but not responded to
• Quotations that have been accepted
• Quotations that have expired

Common Status Management Scenarios

Scenario 1: Customer Requests Changes

If a customer wants modifications:

1. Keep the original quotation as "Rejected" or "Under Review"
2. Create a new quotation with the requested changes
3. Set the new quotation status to "Draft" or "Sent"

Scenario 2: Partial Acceptance

If a customer accepts only part of the quotation:

1. Create a new quotation with only accepted items
2. Set status to "Accepted"
3. Convert to order or invoice
4. Update original quotation status accordingly

Scenario 3: Expired Quotation Still Valid

If a customer wants to proceed with an expired quotation:

1. You can still convert it to order/invoice
2. Or create a new quotation with updated validity
3. Update the status to reflect the current situation

Best Practices

• Update statuses promptly to maintain accurate records
• Use consistent status workflows across your team
• Regularly review and follow up on pending quotations
• Set up automated reminders for status updates
• Train your team on proper status management
• Use status reports to improve your sales process

Related Articles

Learn more about:

• Creating Sales Quotations
• Converting Quotation to Order/Invoice
• Quotation Validity Period