Sales Order/Quotation/Proforma

Sales Order/Quotation/Proforma

Sales quotation refers to the price estimates of the products that a customer wants to buy i.e. quoting price for the products/services. It is typically created as a draft order which includes prices, terms of sale, and description of items. If the customer accepts the quote, it can be converted into a sales order.

A sales order refers to an order raised by the customer to the supplier demanding to provide him certain items for business needs. It is a document that shows the customer wants to buy something and includes SO number, item name, quantity required, price, expected date of delivery, Billing address, Shipping address, and the Terms & Conditions.

Sales Invoice is an itemized statement of goods or services provided to the buyer at the time of making the delivery of goods. It indicates the quantity and price of each product delivered.

A proforma is a kind of preliminary invoice issued before making a sale i.e. in advance of a shipment or delivery of goods.It includes quantity of goods, their value, other information such as weight & transportation charges and mentions the complete details of agreement of sale. It refers to a document of commitment to sell the goods to the buyer as per the terms and conditions.

After receiving pro-forma invoice from the supplier, the buyer sends a purchase order or opens a letter of credit to the supplier. As per agreed date of shipment, the seller arrange to ship the goods. The seller issues commercial invoice (Sales invoice) at this point of time.

 

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