Generally yes, once accepted by the customer, a quote creates a binding contract to provide goods or services at the stated price. This is why quotes should include expiration dates and detailed terms and conditions.
A quote provides a fixed price that won't change, while an estimate is an approximate cost that may vary. Use quotes when you can guarantee the final price and estimates when variables might affect the cost.
Send quotes as quickly as possible, ideally within 24-48 hours. Customers often request multiple quotes simultaneously, so faster response times improve your chances of winning the business.
Strategic discounts can help close deals—consider offering early payment discounts, volume discounts, or new customer incentives. Always clearly state discount terms and expiration dates on your quote.
Yes, many businesses convert approved estimates directly into invoices once work is completed. This ensures consistency and saves time. With Harvest, you can easily convert estimates to invoices with one click.