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.