What is the difference between a Quote/Estimate vs. Sales Order vs. Invoice vs. Quick Sale?
ZarMoney assists clients with purchases by providing four kinds of documents: Quote/Estimate, Sales Order, Invoice, and Quick Sale.
Quote/Estimate is price estimate based on the customer's needs. Quote/Estimate is free of charge, is binding on your business if accepted in writing before it expires, which is typically 30 days, but not binding to your customer. If the customer does not wish to accept an unexpired Quote/Estimate, he may decline it or request a new Quote/Estimate as their plans change or the parameters of the project become more defined. For example a customer may request a Quote/Estimate for a different number of scenarios.
Sales Orders represent a mutually binding contract to provide the enumerated products and services the customer has ordered for the dollar amount specified therein. Generation of a Sales Order will automatically prompt the fulfillment department to ship or prepare the customer's order and produce an invoice. A Sales Order requires documentation. Examples include an email or fax in which the customer places the order, or a government contract, or a signed price quote, or purchase order. Conditions of sale are included on Sales Orders.
Invoices are demands for full or partial payment on past or future products and services and are due and payable within 30 days (or whichever terms you input in Company Preferences) to avoid accrual of interest and/or late payment fees. Some established clients, for example, receive an invoice each month for all purchasing activity that has occurred in the prior month.
Quick Sale is an order that acts as a Sales Order, Invoice and also a receipt of payment. It confirms the quantity and price of items/services sold, removes them from inventory, and receives payment. Use Quick Sale when the customer is paying for and picking up the items/services at the time of purchase.
From your ZarMoney homepage, hover over Customers and any of the above documents can be created from the drop down menu.