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How to manage Quotation in Purchase Management?

A quotation (or a request for quotation) is the proposal of price and quantity of goods that store owners send to suppliers. The quotation will become purchase order when a seller sends confirmation of price and availability of products stated in the quotation.

1. Create a new Quotation

Path: Purchase Management > Quotation Management section > Create Quotation

Step 1: Fill in General Information

  • Created Time: click on Calendar to select Created Date (or you can use the system date)
  • Supplier: select the supplier that you want to send quotation
  • Currency: choose the currency
  • Currency Exchange Rate: the amount of the currency in point 3 above that equals to 1 USD
  • Comments: enter comments if any
  • Click on Prepare Product List button to move to the next step

Step 2: Select the products you need to supply

(1) After clicking on Prepare Product List button, You can view Summary Information, including time (Created At), Purchase form, Payment Term and Shipping Method, as Below:

(2) You add products that need supply.

All products that you add will be shown on the table, where you should edit Current Cost, Purchase Cost, and Qty. Offering. Besides, you can edit SKU, Product Name, Supplier SKU, Tax, Discount and even Delete the products from the Quotation. 

To prepare a product list, your can:

  • Import Products:
  • Back Sales Products: Back orders products are ordered by customers but not available in stock at that moment.

Tick on the product SKU that need supplying. Click on Add Selected Products button to finish.

  • All Products from Supplier:

Tick on the products that need supplying. Click on Add Selected Products button to finish

  • Scan Barcode:

After you added all the products you need supplying, you need to:

(1) Tick on the product(s) that you want to edit the Qty. Ordering and Purchase Cost (or Tax, Discount)

(2) Edit the Purchase Cost, Tax, Discount and Qty. Ordering. Remember Purchase Cost and Qty. Ordering are required fields

(3) Click on Save to update the quotation

Step 3: Fill in Shipping and Payment method

(1) Shipping Address: enter the shipping address

(2) Shipping Method: choose one of your shipping method

(3) Shipping Cost: enter the cost of shipment

(4) Start Shipping Date: choose Calendar to pick the date. Expected Delivery Date: choose Calendar to pick the date when you want your products to arrive

(5) Payment terms: choose one of your payment terms

(6) Sales Place Via: you have 5 options – Email, Fax, Phone, Vendor Website or N/A

Remember to click Save to update what you have edited.

Step 4: Review the quotation

Here, you can review/edit the quotation information including the Order Totals

Step 5: Send Request to the suppliers or Print the quotation

  • Back: if you want to come back the Quotation Management page
  • Cancel: delete the quotation. A pop-up will be shown to make sure you want to cancel it.
  • Send Request: the request will be sent to supplier via email
  • Print: to print out the Quotation
  • Save: click here to update and finish this quotation as the draft
  • Confirm Quotation: after the quotation is confirmed, the system will allow you to check again the information, then
  • Back: get back the Quotation Management page
  • Cancel: delete the quotation. A pop-up will be shown to make sure you want to cancel it.
  • Then if you really want to cancel this, you click on Delete button, if not, you click on Back
  • then you will be linked the quotation management site.
  • Send Email: send the Quotation Confirmation email to supplier
  • Print: print out the Quotation Confirmation
  • Save: update what you have edited on Shipping and Payment field
  • Convert Quotation to PO: create Purchase Order from the quotation
  • Revert Quotation: get back to the Quotation Creation page, to edit product(s)

2. Manage Quotation

Path: Purchase Management > Quotation Management section > Quotations

Here, you can view Quotation Number, Created At, Supplier, Required Qty., Grand Total (including Tax), and status. Besides, you can view more detail by clicking on View in the Action column

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