Now Playing: Quotes in Xero

SOB FacultyCloud Accounting, XeroLeave a Comment

Here’s what’s happening at Xero this week. You can now prepare quotes in Xero.

Quotes in Xero were launched last week, actually. On Wed January 21, 2014 Jamie Sutherland sent out the e-mail letting us all know. Quotes or estimates are an important feature in the sales cycle. I am frequently asked by prospects and clients to send them an estimate or a Quote. I don’t want this posting as income until/unless I know we are moving forward.

Of course the client or prospect will want me to send them a quote to do the project for “zero.” I won’t likely do that, but I can certainly prepare “Quotes in Xero.” Ah the puns. The places I can go!

My first question of course was, “where do I go to prepare Quotes in Xero?” I thought maybe I had to opt in for it somewhere, but then I remembered, Xero doesn’t do things that way. It’s just there. Xero is a platform and Quotes are now a built in part of that.

Click through Accounts, then Sales:

Figure 1- 1 Sales

Then click through the drop down right next to “New.” Clicking on New alone defaults to a new invoice.

Figure 1- 2 New Quote

If you can fill out a simple form, and especially if you’ve ever created an invoice, then you will have no trouble figuring out how to prepare quotes in Xero.

The real magic is in what happens AFTER you prepare a few quotes in Xero. Here are some of the benefits of how Quotes in Xero work:

  • Improve visibility of their sales pipeline: A quote can be tracked through its lifecycle, making it easy to create, manage and follow-up outstanding quotes, before they can easily be turned into invoices for billing. By providing better management, Xero users have more opportunities to secure more work for their business. We make it easy to see how many quotes are in each bucket (Draft, Sent, Accepted, Expired) on the Sales page. In other products, there’s an “All” view and the user needs to apply filters to isolate a bucket.
  • Better workflow: We make it faster and easier (with fewer clicks and reloads) for users to assess the status of a quote and take any necessary action. In other products, quotes are combined with other sales transactions, making it difficult to find a quote with a particular status or a particular transaction.
  • Better productivity: Fewer clicks save time. Also, users can delete multiple quotes. In other products, like QBO, quotes have to be deleted one by one.
  • Rapidly respond to business opportunities: Quotes can be created anytime, anywhere. Xero makes it easy to create a new quote, copy a previous quote, or to convert a quote into an invoice. Fast turnaround of quotes improves the likelihood of winning new business – and getting more time to work on tasks that add value.
  • Get paid faster: Using quotes allows small businesses to agree terms with their customers, reducing ambiguity and ensuring that everyone is clear on what it is delivered, and when the job is to be paid. Integration with Xero’s invoicing capabilities ensure that work can be seamlessly tracked and charged for. The end result: small businesses get paid faster.
  • Sell value not hours: Agreeing on a price for a job up front allows small businesses to concentrate on selling value not time.

Notice the options when you check off one or more quotes in Xero. In the video I send the quote directly within the quote, but as you can see it can be done on multiple quotes right within the list.

Figure 1- 3 Draft Options

Of course the options for Quotes in Xero are contextual so in the “Sent” tab the choices are different:

Figure 1- 4 Sent Options

If you are already a Xero user then get in there and start sending out some quotes! It’s time to go make some money. If you are not already a Xero user then maybe this is the feature that will push you over the fence?

Got questions! Ask away, please post your comments below.

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