Financial & invoicing terms explained
Quote vs invoice
A quote proposes pricing; an invoice requests payment for delivered value.
Binding vs non-binding
Quotes may expire or be estimates—say so explicitly.
Conversion
Carry agreed line items forward; note changes in writing.
Tax treatment
Tax may differ between estimate and final invoice depending on jurisdiction.
Quote vs invoice — FAQ
- Quote binding?
- Usually an estimate unless contract says otherwise.
- Convert quote to invoice?
- Carry line items forward; note what changed.
- Pro forma in the middle?
- Sometimes used for import or budget approval before final invoice.