In the daily life cycle of any business, companies send a proforma invoice and Price Quote before actually completing any sale. Proforma invoices and price quotes serve the same purpose.
However, proforma invoices are considered more professional and formal. Sometimes price quotes also require legal binding. So, you can use a price quote tracker excel template for both purposes.
In a formal quotracker template, there are various elements such as prices, dates, terms, item descriptions, etc. To prepare quotations of all sales, most companies and businesses use Excel spreadsheets to send these quotes to their customers.
If the customers agree on the terms and conditions, they proceed to the next step and complete the sale. Finally, a commercial invoice is prepared after the sale, which serves as a sale record.
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Excel Quote Tracker Template Sections
Generally, a simple quote tracker template contains three main sections that are:
- Quote Generator
- Service/ Product Database
- Quotation Tracking and Record
The flow of all these features is to input your service/product information in the database. Then create your price quote in the quote generator section and the quote traker and recording section, analyze your past quotations and proforma invoices.
Quote Generator Section of Quote Tracker Template
Quote generator section of the Excel contains many features, including menu buttons and other features:
You can find these features in the menu buttons section of the Quote Traker template.
You can create a temporary PDF on Excel to see your price quote in this section. You have to make some controls on the Excel before generating the PDF. These controls check the date, unique ID, total amount, and so on. After creating the PDF of the price quote, don’t forget to save a copy of it in the relevant folder.
Record Quote Data
In this section, you can maintain the date record of each sale and quotation. This section also sends the date of the quotes to the tracking section, and from there, you can find when/where/and what Quote on any customer.
This button is optional on the invoices. If there is any discount on the items you sell, you can display this field on the invoice. And if there is no discount on the items, you can hide this field. Thus, this button can switch between discount columns.
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You can add new rows in the quotracker template or delete the old ones in the invoice from this menu button.
As the name indicates, this button can remove all the existing data on the Quote and refreshes all the existing formulas. Thus, you can get a new Excel sheet for making a new quote from this feature.
However, you have to use this feature with caution because sometimes, there is a chance that you can delete critical information from the invoice.
Excel Quote Generator – Other Features
Other features of the excel quote generator section are:
A dummy logo is present on the Excel template of the price quote tracker. You can easily replace this logo with your company logo while generating your sale invoices.
This feature helps maintain the record of the quotes in the quotation tracking section. If you want to distinguish the various quotes from one another, you have to use the unique quotation IDs for each price quote you create.
You can click the “auto-generate” button or write the quote ID of each sale manually into the form at the top section. In addition, you can also use a different prefix for creating a unique ID.
You can use this section for maintaining the record of the person who gave the Quote. This record will help you later to track the responsible person for a specific quote. In addition, it is easy to remove or add the list of responsible persons in the dashboard section.
Products / Services Section
It is a drop-down section in the Excel template from where you can select your service/product after clicking on the first row below the description section. All relevant data will appear automatically according to the information you have out into the database system.
In addition, you can also change the value of the amount according to the price quote without worrying about the formula, as you can recreate it after resisting the form.
You can hide/show instruction by clicking the switching button at the top right side of the template.
Hide/ Show Total Discount Selector
You can hide or show the total discount feature on the invoices with this button. Then, if there is any discount, the tool will automatically consider it while making the calculations.
Hide/ Show VAT Selector
With this button, you can hide or show the total VAT. Then, the template tool can automatically calculate the total value of the VAT that you input and add it to the value of the total amount.
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Service/ Product Database Section of Quote Tracker Template
Service/ Product Database Section of the quote tracker template contains the following features:
Clickable Info Links in the PDF
It is one of the unique features of the Excel template. It offers the best method for sending the product links from a website into the quote tracker system.
With the help of this feature, your customer can easily check the details without asking you again and again for each item.
Furthermore, if you want to put the links in the database column, they will automatically appear in the price quotation. However, if you do not want to put the link in the database column, you can add any other information in the column or leave these columns empty.
Unit Price –Unit- Currency
This feature of the Excel quote tracker template is a great time saver. The unit price or currency information will appear automatically in the price quotation when you choose the relevant items.
Currency and unit are already defined in the dashboard to ensure consistency of the data throughout your workbook.
Edit Customer Database Section
If you want to gather the customer’s information and keep a record in the database, this section can help you. For example, if you have customers regularly, you can add their information to the database. And then, you can select them from the drop-down section and ad info in the proforma invoice.
Excel Quotation Tracking & Records Section
All the quote tracking and recording information comes from the quote generator section. When you create a new price quote, you click the record button. After clicking on that button, the tool record the data you want to save to the tracking section.
This tool is really helpful if you want to record all your quotes. In addition, from this feature, you can record r4esposible person, prices, dates, and many other things regarding price quotations.
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Top 4 Frequently Asked Questions
How do you track a quote?
If you want to track your price quote, you need to organize your price quotes by the situation and status (pending, received, sent, canceled, contracted, etc.). It will be much easier to handle your list of quotes if you successfully filter them according to their current situation or status. In addition, don’t forget to update the statuses.
What is a quote tracker?
Quote Tracker streams real-time news, stock prices, and other critical data and information directly to the depositor’s desktop. It is easy to configure this information and data in various chart styles, including OHLC, candlestick, and TICK.
Are a quote and invoice the same?
A quote is made before the sale of any product or service. It provides an estimate of the cost of the items to the customers. On the other hand, an invoice includes the total prices of goods and services that have been sold. It also includes the discounts and VAT (if applicable).
Are quotes legally binding?
Yes, quotes or quotations are legally binding, and you have to use them only when you are certain about the cost. Never assume or label any written price estimate as a quote because you can be held responsible for the cost provided. In addition, also make sure that the customer understands and knows whether they are getting a quote or an estimate.