Netsuite Tutorials: What is Quote or Estimate in Netsuite?

Let Us Know about Estimates in Netsuite

Hi All,

  Sorry for Now writing any post for so long, I was busy in some other stuff and was mostly away from Internet.I am going to start at least 2 post weekly on some important topics.

  Estimates/Quote can be or can not be part of Order to Cash. Most of the time it start from Order to Cash but some company start for Estimates/Quotes.

  Some business usually provide Estimates or Quote before accepting offer. They most of the time change the Estimate or quote and ask for price change or discount or quantity change , mostly anything as they need.

  In Netsuite, for this functionality we have Estimates or Quote. Few company prefer Estimate on other hand few prefer Quote.

  It is up to company what they want to call the record name, they can change the name of estimate object to become, where as internal id for record type/object will remain same.

  In Netsuite, you can send Estimate/Quote in email , or print as PDF or Fax it to customer, when custom agrees to Estimate/Quote , Convert it to Sales Order , Invoice or Cash Sale as per need. If any change is required then update Estimate/Quote and then convert it to Sales Order, Invoice or Cash Sale.

  Expiration date can be set for Estimate/Quote and Netsuite will inform you before expiry. You can even write scripts to send customized emails.

  Not all company use or need Estimate/Quote so you can disable it also. To enable or Disable this option ,
got to Set Up -> Company -> Enable Features -> Transactions-> check "Estimates"  checkbox to enable Estimates/Quotes , to disable uncheck "Estimates" checkbox.

You can write your own scripts and can customize Estimates as per you need. Commonly used customizations are like Sending Emails to customer, converting estimates to orders automatically on approval, sending data from Netsuite to SFDC, getting data from SFDC to Netsuite etc.

Thanks
Abhi