Is an estimate the same as a quote?
Not usually. An estimate is an approximation. A quote generally presents a more defined offer, although the legal effect depends on the wording and agreement.
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Give a client a clear approximation when the final scope, quantities, or cost cannot yet be confirmed. Edit every value and download a labeled PDF.
A practical example
The editable example allows six estimated labor hours at 60 USD and notes that the final amount depends on inspection. Replace every assumption before sending it.
Load this editable exampleCreate a free account to store clients, reuse items, email invoices, set up recurring invoice schedules and more. The current free core does not require a payment card and has no invoice limit or watermark.
Create a free accountUse an estimate to communicate a good-faith approximation based on the information currently available.
An estimate is not a tax invoice, a demand for payment, or automatically a fixed-price commitment.
Use a quote when you can commit to a defined scope and price. Issue an invoice at the agreed billing point and a receipt after payment.
Not usually. An estimate is an approximation. A quote generally presents a more defined offer, although the legal effect depends on the wording and agreement.
This estimate is not a demand for payment. Use an invoice when a payment is due under your agreement.
Describe the expected scope, quantities, rates, assumptions, exclusions, validity period, and how changes will be approved.