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.
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