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V8 - Estimates and the Estimates list

An estimate is a quotation to a customer, or an offer to provide products or services at a specified price. The terms of an estimate (binding, non-binding, etc.) are set by your company policies. Estimates in SOS Inventory are very similar to estimates in QuickBooks Online. An estimate in SOS will synchronize to QuickBooks Online, and vice-versa. You can also send the estimate to a customer (print, email, etc.) from either place.

The Status field on an estimate is listed as Pending by default. If the estimate is converted into a sales order, invoice, or sales receipt, SOS will automatically change the Status field on the estimate to Accepted. If the customer does not agree to the sales quote and wants to renegotiate, you can change the Status field to Rejected. If the customer decides not to move forward with a sales order, you can change the Status field to Closed. The status of an estimate can be viewed on the Estimates list by enabling the Status column with the Column Chooser.

edit_noteNOTE: If after a Pending estimate syncs to QuickBooks Online, you select the Convert to invoice action in QuickBooks, it will create an invoice and then sync it to SOS Inventory. When that occurs, the Status column for that estimate on the SOS Inventory Estimates list will be updated to Converted. The Status field on the estimate transaction, however, will remain as Pending. Changing the transaction's Status field will replace the Converted text on the list column to match the change you made on the transaction.

Estimates list

An estimate is an optional transaction type in the sales workflow. The Estimates list (Operational menu > Sales > Estimates) includes several types of actions that can generate transactions from the parent estimate: Create sales order, Create invoice, and Create sales receipt. SOS Inventory will import all relevant data from the estimate.

For a general overview of how lists work in SOS Inventory, refer to List functions. See Action and batch action descriptions for more information about the actions available on lists.

Creating and editing an estimate

To add an estimate, use any of the following methods:

On the Task bar, go to the Quick add > Sales > Estimate.
Go to Operations menu > Sales > Estimates, then select the Add new button on the list page.

An existing estimate can be opened for editing by selecting the transaction record's Edit action on the Estimates list. Be sure to save your changes.

Since estimates and other sales forms share many of the same fields, explanations for fields pertaining to any sales form type listed on Sales form field descriptions.

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Estimates list
Creating and editing an estimate