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Estimate vs. quote vs. invoice
Estimates and quotes come before the work; an invoice comes after it. The difference between an estimate and a quote is mostly how firm the price is.
| Estimate | Quote | Invoice | |
|---|---|---|---|
| When | Before work starts | Before work starts | After delivery (or at agreed stages) |
| Price | An approximate cost that may change | Usually a fixed price for a defined scope, valid for a set time | The amount actually owed |
| Asks for payment? | No | No | Yes |
Usage varies by industry, so say clearly on the document whether the price is an estimate or fixed, what it includes, and how long it is valid. Some states have specific rules for written estimates in certain trades, such as auto repair, so check the rules for your trade.
A simple workflow
- Send an estimate with a “Valid until” date.
- When the client accepts, convert it to an invoice. In Slipfold, open the estimate and press Convert to invoice: the line items are copied to a new invoice with the next invoice number.
- Adjust anything that changed, then download and send the invoice.
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Create an estimateThis page is general information, not tax, legal or accounting advice. Rules differ by state and country — check with your state revenue department or a qualified professional.