Estimates are as good as predictions.
Creating an estimate means creating a prediction.
Technically, project estimates help the business owner to understand the investment of time, cost, and labor for a particular project. Hence, estimates are quite close to the final invoice.
Today, businesses require sending quick project estimates to their clients to help them decide whether or not they would like to go with their quote/deal.
A project estimation software is required to create and send online project estimates for your small business. Here is a bit more about it in detail.
What is an estimate?
An estimate is a business document that analyzes the upcoming project, including the cost, time, and labor. The seller sends it to the buyer during the discussion of the deal or the project. It is a legal document notifying the buyer about the total amount and time of the particular business project or deal.
Estimates are also known as business quotes or business estimates. It is sent to clarify the investment calculation for helping the buyer to close a deal.
Project estimate example
Don’t know what an estimate is? Never mind, we have got a perfect example of a project estimate to share with you.
Here is how an estimate looks like!
A business or project estimate has the below essentials:
- Business logo
- Date of the estimate
- Estimate number
- Estimate to details
- Project details, including rate, quantity, and discount.
- Tax details that need to be mentioned by the seller.
- Project Deadline (in the service sector)
Why does business need to send estimates?
Good question! Businesses need to send estimates because sending estimates helps them send a clear message about the project details, including the time and cost. It is essential to close the deal because estimates quoted the least with the best quality are selected first.
Every business needs to send project estimates, including the IT industry, Financial sector, service, hospitality industry, food industry, import and export industry, etc. Sending quick project estimates to help to crack the deals faster. Subsequently, you need project estimation software that can help you send professional estimates within seconds.
How project estimates help crack a deal?
It is said that the project estimates that are received first are likely to be selected by the buyer. A project estimation software helps you create and send online estimates and quotes that meet all the professional criteria, including the business logo and signature.
You can save time and effort when you have an online project estimation app to send quick estimates or quotes. Estimates are prepared within minutes and on the go! Henceforth, your clients don’t need to wait to receive your estimate. You can send it online using the project estimation software.
How to send quick project estimates online?
To create and send project estimates online, you need to download a project estimation application like Moon Invoice. Using the app, you can send estimates to your clients from anywhere in the world, anytime.
Moon Invoice, online invoicing software, helps you send estimates online in the below-mentioned steps.
- Sign-in to Moon Invoice
- Click on ‘Estimates’
- Click on the ‘+’ sign for creating a new estimate
- Fill in the required details to create an estimate.
- Click on the ‘save’ button to successfully save it.
Convert estimates into an invoice
Moon Invoice online invoicing software helps you convert an estimate into an invoice on a single go. Follow the below steps for automatically converting an estimate into an invoice.
- Click on any of the existing invoices.
- Click on the three dots for scrolling down the options.
- The first option says convert to invoice.
- Click on convert to invoice for converting an estimate into an invoice.
- After clicking on the status on hold, you can decline, dispute or cancel an estimate.
Also Read: How To Create Perfect Invoice Estimate?
Why Moon Invoice for sending online estimates?
Moon Invoice is an all-in-one invoicing software that helps you send estimates, invoices, credit notes, purchase orders, and receipts to customers or clients. Using Moon Invoice, you can create professional estimates within minutes and convert them into an invoice on the go. All the business records are well-maintained utilizing the software. Nevertheless, Moon Invoice helps you download business reports for analyzing the expenses, income, and taxes.