Create Professional Estimates with
Ease

Explore our comprehensive guide to crafting accurate and visually
appealing estimate formats for your business needs.



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Sample Estimate Format


  • Heading: Document heading to understand and defines “Estimate” or “Quotation”. Heading on the left side of document.

  • Buyer’s Name and Logo: The business brand logo on invoice. Identifies the business, adding brand recognition.

  • Invoice Number and Date: Purchase order have unique number to track the purchase order.

  • Issuing Date: The date when the estimate is issued or send to buyer.

  • Buyer’s Address: The official billing address of the buyer for invoicing.

  • Seller’s Name and Address: Contact information for the vendor fulfilling the order.

  • Place of Supply: This indicates the location where the goods or services are consumed or delivered.

  • Ship To: It Specifies address of buyer’s where the product is delivered.

  • Product Details: In this section should contain a detailed description of the goods or services sold, including the quantity, unit, and total value. This is essential for clarity and record-keeping.

  • HSN/SAC Code: Harmonized System of Nomenclature (HSN) code for goods or the Service Accounting Code (SAC) for services should be mentioned. It helps in classifying goods and services.

  • Taxable Value: Amount value on which tax is calculated, after adjusting any discounts or abatements.

  • Rate and Amount of Taxes: Clearly specify the rates and amounts of CGST, SGST, and IGST, depending on the transaction.

  • Subtotal & Grand Total Amount: The sum of individual product costs and the final amount including taxes and fees. Include the rate and total estimated price for each item or service.

  • Signature of the Supplier: Signature of the supplier for authenticated the document.

Crafting Accurate and Professional Estimates with Ease


An estimate format is essential for businesses when offering pricing and scope information to potential clients. It’s an informal yet strategic document that allows the seller to outline projected costs, terms, and expected outcomes for goods or services. In this blog, we’ll explore the purpose of a professional estimate format, its key elements, types, and how using a solution like Sleek Bill can simplify the process.


What is an Estimate Format?


An estimate format is a form that will allow the company to explain the anticipated cost of a service to a customer. An estimate describes how much the requested work will cost; while not legally enforceable, it serves to start a discussion and therefore allows the client to decide whether to ask for that service or not. An estimate format may be known as a cost estimate format, proforma invoice, or bid and is particularly useful during the initiation stage of a sale.

Highlights of Estimate Format


  • Print-Friendly: Each estimate format is optimized for professional printing

  • Comprehensive estimate format: Built from scratch to include essential details.

  • Automated Calculations: Calculates subtotals and grand totals automatically.


Why Use an Estimate Format?


  • Cost Communication: It allows sellers to communicate potential costs to buyers transparently, helping both parties align on the financial scope.

  • Comparative Analysis: Clients can compare estimates from different providers to choose the best option.

  • Secures Sales: A well-prepared estimate can lead to a closed deal by building trust and setting clear expectations.


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Estimate vs. Invoice: Key Differences

Understanding the difference between an estimate and an invoice is essential for smooth business transactions:


Estimate Invoice
A non-binding document issued at the beginning of the sales process. Includes exact calculations and a demand for payment.
Provides rough calculations and initial pricing. Includes exact calculations and a demand for payment.
Not recorded in accounting books. Recorded in the books of accounts as a financial document.
Serves as a discussion starter for pricing and project scope. Represents the finalized amount owed by the customer.

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Types of Estimates


Depending on the project and industry, different types of estimates may be used to provide clients with the most relevant information:

1. Preliminary Estimate

A rough calculation based on initial understanding, often used in the early planning stages.

2. Detailed Estimate

A customized quote prepared after an in-depth analysis, focusing on specific client needs.

3. Quantity Estimate

For projects like construction, this estimate breaks down the quantities of materials needed, along with individual costs.

4. Bid Estimate

Used in competitive settings, such as construction bids, where pricing is finely tuned to win the project while remaining profitable.

Benefits of Using Sleek Bill for Creating Estimates


With Sleek Bill, creating and managing estimate format becomes simpler and more efficient. Here’s how Sleek Bill helps:


✓

Easy Data Entry

Use of automated tools makes it easy for one to spend less time on data entry and reduce chances of making errors.

✓

Speed and Accuracy

Sleek Bill guarantees quick and correct estimates thus giving companies the upper hand in catering for their clients’ request in the shortest time possible.

✓

Inventory Management

Track and manage inventory levels in real time, ensuring the availability of goods for each estimate.

✓

GST Compliance

Sleek Bill’s formats are GST-compliant, making it easier to operate within Indian tax regulations.

How to Create an Estimate Using Sleek Bill

How to Create an Estimate Using Sleek Bill

Using Sleek Bill’s tools, you can quickly craft professional estimates without technical expertise. Follow these steps:

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Log into SleekBill Account

Enter your username & password to log in. If you don’t have an account, just sign up.

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Navigate to Quote

On the dashboard, select "Quote" on the left, then click "New" at the top right and choose "Quote."

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Input Accurate Details

Enter details like client information, list of items, and estimated costs.

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Review and Send

Preview the estimate, ensuring accuracy, then send it digitally or print as needed.

Frequently Asked Questions

Sleek Bill provides intuitive tools for creating an estimate format that includes all essential details.

An estimate should include information about the seller and the buyer and any items or services to be rendered or provided and the total cost to be provided ‘in the full.

An estimate gives its reader an approximate figure, while a bid presents comprehensive price scrutiny that is competitive in nature.

Details of the project, labor, material costs, and other relevant expenses should be itemized for clarity.

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