Sales Terminology: Sales Quote Terminology

New Sales Quotation

  • Quote date
    • The date the quote is created.
    • The quote date will be set by default to the day the quote was created but can be changed to any other date by the user.
  • Valid for
    • The number of days the quote is valid for.
    • Sales quote expiry date is calculated based on the number of days defined.
    • The quote expiry date displays on quote PDFs.
  • Customer
    • The company the quote is for.
  • Contact
    • This is the contact you are speaking to in the customer's company. You may not use this field if you are a B2C business.
  • Currency
    • The chosen currency should be of a denomination appropriate for that customer.
    • All currencies used must first be defined in the Settings menu.
    • Default currency, unless otherwise stated, is GBP.
  • Prepared by
    • This auto-defaults to the current user who created the quote.
    • Can be edited to select any other user if required.
  • Terms & conditions
    • During initial Flowlens set-up, users can provide their own sales T&Cs
    • The sales T&C will then be auto-populated into every sales quote.
    • In the event of a quote that requires a customised form of T&C, the sales T&C can be edited on the sales quote prior to sending it to the client.
  • Carriage VAT rate
    • Select from the list of available VAT rates (which are to be defined in the Settings menu as a part of initial set-up), the VAT that has to be applied to the carriage cost.
  • Carriage cost
    • Enter the carriage cost that the customer must be charged for the dispatch/transport of goods to the delivery address.
  • Customer notes
    • To be used in the event of any requiring any relevant notes to be logged.
    • Customer notes display on the quote PDF.
  • Internal notes
    • To be used for any internal notes/comments that are of importance for the quote.
    • These do not get printed on the quote PDF.

Sales Quotations Overview

  • Status
    • A sales quote can have one of the following statuses:
      • Draft: The status for quotes when they're being worked on. A quote can be edited without any restrictions when it is in 'Draft' status.
      • Sent: When the quote is sent to the customer but not accepted yet. If there are any additions required once the quote is sent, then it must be revised before any additions are allowed.
      • Accepted: When the quote is marked as accepted in Flowlens. If a quote is accepted, and then needs revision, then it must be rejected first and then revised.
      • Rejected: When the quote is rejected in Flowlens.
      • Converted to Sales Order: When a sales order has been created from the quote. If a quote has been converted to sales order and then needs further revision, users should cancel the sales order, reject the quote and then create a brand new quote.
  • Valid until
    • Signifies the date when the quote will expire.
    • Displays on the quote PDF.
  • Sales net total (Excl. VAT)
    • This is the sum of the sales value of the quote, excluding VAT.
  • Total discount
    • The total discount that was provided in the quote for all the line items combined.
  • Margin
    • Margin is calculated as:

      ((Sell price - Cost Price) / Sell Price )* 100

Sales Quotation Line Items

  • Add asset
    • When working on a quote, if the item being sold is an asset and the serial number of the asset is confirmed at the point of sale, then user should add an asset.
    • Selecting a particular serial number while quoting ensures that the asset is reserved from stock and hence can not be quoted by any other user in any other quote.
    • When selecting an asset, the quantity will always be one and hence need not be entered.
  • Add part
    • When the item(s) being sold are either a) not assets, or b) are assets, but the serial numbers that will be used to fulfil the order are not confirmed, then this option should be selected.
    • Start typing the first 3 characters of part number or name for Flowlens to show and search matching parts, which you can then select.
  • Description
    • This field is populated with the part's description.
    • Users can edit this on the quote if required.
  • Qty
    • Use this to specify the quantity of the parts being sold/quoted for.
  • Guide price
    • Guide price is used when the part that's being sold is configurable.
    • When the part that's being sold is configurable, the quote cannot be sent to a customer until the part is configured.
    • As a part is configured in the quote, for each configuration, the part's guide price is updated by adding the impact prices of the options added to the part's sell price. This sum is called as 'Guide price'.
    • Guide prices give the sales team an indication of the configurable part's pricing. Once the guide price is calculated, the user can decide the sell price accordingly and update the unit price on the line item.
    • This price cannot be edited by the user as it is auto-calculated by the Flowlens application.
    • If the part being sold is not configurable, then the guide price is 0.
  • Unit price
    • The price in which each quantity of the part will be sold. This price will be used to calculate quote's margin.
  • Discount %
    • If a discount is to be provided to the customer, it has to be done on a line by line basis as a percentage value.
  • Tax type
    • VAT has to be selected for each line of the quote. By default, company's Sales VAT will be applied on each line and if the company does not have VAT then part's VAT will be applied. User can edit this as needed.
  • Net total
    • This is calculated as (quantity * unit price) for each line. Only certain users will have access to all areas covered in this glossary.

! Only certain users will have access to all areas covered in this glossary.

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