Free Online Estimate Generator

Streamline your business estimates with InvoiceOwl’s online estimate generator. Use this free estimate maker to create & send unlimited professional estimates in one click.

Upload only jpeg and png file.
Add Logo
Logo Thumb
Item Price Qty Total
$
$0.00
Subtotal $0.00
Discount $
Tax $
Shipping $
Total (USD) $0.00

Perks of integrating advanced estimating software
over a basic estimate generator.

Effortlessly Send Unlimited Estimates
Enjoy Full Control with 100% Editability
Instant Approvals for Faster Workflow
Access to Multiple Estimate Templates
Secure Client Data for Future Use
Easily Track the Progress of the Estimates
Request deposits
Export Estimates in Multiple file formats
Convert an Estimate into an Invoice
Send Estimates Directly in Just a Click

Why Should I Use an Estimate Generator ?

Here are a few compelling reasons why, using an estimate generator can make a significant difference in your estimating process:

  • Multiple customizable estimate templates available.
  • Adjust the logo position to your preference.
  • Access anytime, anywhere.
  • Preview estimates before sending them to the client.
  • Automate calculations for efficiency.
  • Enjoy 100% editability.
  • Download estimates in PDF format.
  • Directly send to the clients via email address.
Estimate Generator

Discover the Top 9 Benefits of an Estimate Generator

No more tedious and time-consuming manual estimate creation. Experience the ease of an online estimate maker to create error-free professional estimate templates in minutes. Unlock these 9 exclusive benefits while using the estimate generator.

Efficiency

Efficiency

Automation plus standardized templates – when together make your estimate business processes efficient.

Professionalism

Professionalism

Clients appreciate polished estimates, contributing to a positive perception of your brand. Free estimate app helps reinforce your brand image & build trust.

Visibility

Visibility

Centralized access to the estimates with quick updates ensures better communication and understanding among clients.

Easy tracking

Easy tracking

Get informed whether the estimate is pending, approved, or rejected. With InvoiceOwl’s construction estimate maker, you can monitor every estimate you create.

Quick sharing

Quick sharing

Just one click and your estimate is sent. This, in turn, results in timely communication and fast decision-making.

Error-free

Error-free

In-built formulas with automated calculations help reduce errors and inaccuracies.

Cost-efficient

Cost-efficient

Streamline your operations, reduce costs associated with manual paperwork, and allocate resources efficiently.

Time-savvy

Time-savvy

The pre-designed template lets you feed the required details and create estimates in a flash. This frees up your valuable time to focus on other core business tasks.

Consistency

Consistency

Consistent formatting of the estimates reduces the risk of incorrect layouts, missing information, or discrepancies in presentation.

What are the Required Elements to Include in an Estimate?

There are 11 essential elements to include in an estimate. Here you go:

  • 1. Title: Document the title as “ESTIMATE” to acknowledge the purpose of the document to the recipient.

  • 2. Estimate details: Include the estimate number, issue date, and due date of the estimate for easy identification in the future.

  • 3. Valid until date: Enter the date up to which the estimate will remain valid. It is the last date for signing the contract at the quoted cost.

  • 4. Company logo: An attractive company logo helps customers to verify the estimate’s genuineness.

  • 5. Vendor’s information: Seller’s name, address, contact, and tax registration number is essential for effective communication between two parties.

Required Elements to Include in an Estimate
  • 6. Client details: The buyer’s name, address, and contact details are a must to ensure that the estimate is directed to the correct recipient.

  • 7. Shipping address: It’s the address where you are supposed to deliver the goods/services. It doesn’t need to be the same as the client’s billing address.

  • 8. Line item details: Details of the products & services with their name, description, quantity, estimated price per unit, and total estimated cost should be mentioned.

  • 9. Discount, taxes, and other costs: Any discount offered, applicable tax information, or any other costs (shipping) levied should be listed to let users know what they are paying for.

  • 10. Terms & conditions: Any special notes, payment terms, or conditions requiring the user’s attention should be entered.

  • 11. The total amount charged: Here you will be mentioning the total estimated amount that you will be charging to your contractors.

Types of Receipts

Cash Receipt

Cash Receipt

A cash receipt is a document confirming the payment made in cash for goods or services rendered. It includes the transaction date, the amount charged, the name of the payer, and a description of the goods or services. Such receipts are proof that the payment obligation has been fulfilled using cash.

Payment Receipt

Payment Receipt

A payment receipt is evidence that a payment has been received for the goods or services rendered. These receipts are crucial for record-keeping purposes and for providing evidence of financial transactions. It includes the payment date, amount paid, method of payment, and information identifying the payer and payee.

Sales Receipt

Sales Receipt

A sales receipt is an evidence of a sale. However, it does not promise the receipt of payment on sales done. It is issued by the seller upon the completion of the sales. It typically includes the sales date, items purchased, their prices, taxes or discounts, and any other information about the seller.

Delivery Receipt

Delivery Receipt

A delivery receipt is a document confirming the delivery of goods/services. They act as proof that whatever is ordered has been delivered as expected. It includes the date and time of delivery, a description of the items, any supporting documents, and the recipient’s sign or confirmation.

Gross receipt

Gross Receipt

Gross receipts are the total revenue earned by an individual from different sources. It includes the generated from the sales of goods or services. These receipts are useful for assessing a company’s revenue performance, understanding its scale, and analyzing trends over time.

How to Create an Estimate Using InvoiceOwl’s Estimate Maker?

There are 8 simple steps to create an estimate that will help you lock your deals faster than ever before:

Step 1: Select and customize the template

Click on ‘Settings’ in the top right corner to tailor your estimate template.

Choose from various customizable estimate templates available for creating branded and professional-looking estimates.

You can further customize the following:

  • Currency
  • Currency format
  • Date format
  • Number of decimal digits
  • Logo position
  • Category of shipping address

After completing the customization, click on — Save.

Select estimate template as per your need
Upload your business logo

Step 2: Add a company logo

Upload your business logo by clicking on the ‘Add Logo’ box. Make sure that the logo is either in a PNG, JPG, or SVG file format. You can adjust the logo position to your preference by tapping the ‘Settings’ tab.

Step 3: Add your company details

Identification of the party sending the estimate is a must. So, time to feed the business details. Tap on the box ‘From’ to fill in your business name, address, contact details, and email address.

Add your company details
Add your custromer details

Step 4: Add your customer details

To enter the client details, tap on the ‘Bill To’ field and start adding their information. Enter the customer’s name, billing & shipping address, contact number, and email address.

Make sure that your shipping address & billing address are the same; you need to check the ‘Shipping Address’ box given in the ‘Settings’ tab.

Once done, it will auto-fill the shipping address the same as the entered “Bill To.”

Step 5: Enter the estimate details

For easy recognition of the document on a later date, clearly mentioning the estimate number, estimate date, and valid until date is a must.

Enter estimate details
Add line items

Step 6: Add line item

Time to add the items in the estimate. Enter the item’s name, description, price, and quantity. It will then automatically calculate the total cost of the item.

To add more than one item details, hit the “Add New Item” button. There are no bars on adding line items.

Add as many items as you want, and our estimate maker, free of cost available, will automatically calculate the subtotal and total.

Step 7: Balance Due Calculation

Before getting the net payable amount, check if there are any additional costs. For instance, any discounts offered, taxes applicable, or any shipping charges incurred. You can add these charges either in percentage form or as a fixed cost.

Add balance due calculation
To add the notes and terms

Step 8: Add additional notes or terms and conditions

Adding notes or any specific terms or conditions relating to the estimate, such as payment method, payment terms, late fee applicability, or a thanking gesture, helps you personalize the estimate. It further guides the customers in making the next moves.

That’s all!

You have now generated a professional estimate.

10 Best Practices to Create a Professional Estimate

Go through some of the best tips to follow while creating professional-looking estimate in just a few clicks:

  1. Define project scope and requirements to set clear expectations for the clients.
  2. Maintain transparency by breaking down the details of the goods or services rendered.
  3. Your estimate should be customer-centric and should not highlight your purpose.
  4. Include appropriate contingencies – 10-20% buffers for unexpected issues.
  5. Account for seasonal and regional variations that may affect material prices or labor availability.
  6. Save backup copies of the estimates before sending them to the client.
  7. Instead of manual, error-prone methods to create estimates, leverage digital tools like InvoiceOwl’s estimate generator, free of cost, for accuracy and precision.
  8. Get multiple vendor quotes to quote the best price in case you are outsourcing the project tasks.
  9. Document any assumptions made during the estimation process to avoid misunderstandings.
  10. Analyze past projects and historical data to identify patterns and improve estimation accuracy.

Best Practices to Create a Professional Estimate

Invoice VS Estimate VS Quote

From the financial and contractual aspects of the business, quote, estimate, and invoice- these three documents hold immense significance. However, the use, purpose, and intent of these documents are different. Have a look:

Invoice

An invoice is financial evidence of the transaction that occurred between a buyer and seller. It is a formal request of payment by the seller, representing the final amount owed by the buyer.

Estimate

When compared to a quote, an estimate is a less formal document and does not bind the buyer. It contains the anticipated costs of products & services. The buyer may negotiate on the cost estimated by the seller.

Quote

A quote is a commercial document, legally binding the buyer to stay on the fixed terms once agreed upon. It usually contains the itemized listing of the products and services with a fixed price.

Alternatives to Using an Estimate Maker

Hands down to InvoiceOwl’s online estimate creator—it works wonders to streamline your estimate generation process.

But what if there’s an even more powerful solution waiting for you? Let’s dive together into the comparison table below and discover the additional benefits that InvoiceOwl brings to the table on your way to streamline your entire business process.

Perks Estimate Generator InvoiceOwl
Complexity Right Wrong
Customization Wrong Right
100% Editable Allowed Limited Edits Fully editable
Multiple Feature Wrong Right
Multiple Templates Wrong Right
Data Security Wrong Right
Client Reviews/Feedback Wrong Right
Customer Database Integration Wrong Right
Consistent Tracking of the Estimates Wrong Right
Convert an Estimate into an Invoice Wrong Right

Frequently Asked Questions

  • What is an estimate in accounting?

    In accounting, an estimate or a cost estimate refers to an approximation of an amount that cannot be certainly determined. Estimates are not certain and are often prone to change. In cases where exact figures are difficult to measure, businesses use estimates to account for these uncertainties.

  • What information is required to generate an estimate?

    To create an estimate, company and customer details, estimate details, an itemized list of products and services, applicable taxes or discounts, and rates of each good or service delivered are required.

  • Can I edit my estimates?

  • How do I send an estimate?

  • Can I convert my estimates into an invoice?

  • Can I put my logo on the estimate template?

    Yes, you can add a logo on the top left corner of the template. Remember, a logo should be either in a PNG, JPG, or SVG file format. However, you can always adjust the logo position to your preference by tapping the ‘Settings’ tab.

  • Can I generate a PDF estimate?

    No need to make a PDF by yourself. InvoiceOwl can let you download the generated estimate template in PDF format. Further, when using the InvoiceOwl app, you can download the estimates in 3 multiple formats like PDF, XLS, or CSV.

  • Can I change the currency?

    Yes, this simple estimate generator app allows you to create estimates in multiple currencies. This flexibility is ideal for businesses operating in diverse markets or dealing with international clients.

  • Can I save my estimates and customer details?

    Of course, by signing up with InvoiceOwl and purchasing any of our plans: either Growth ($9.99) or Champion ($23.99), you will be able to save all your business and client data for a long time.

  • Is the estimate generator tool accurate?

    Yes, our estimate generator tool is designed to provide reliable, accurate, and precise estimates. However, it’s crucial to input accurate information and expect precise results. Always double-check the details before finalizing your estimate.

  • When should you send an estimate?

    When your potential clients are curious to know about the general price point of the products or services you offer, at that time, you should send an estimate.

  • Are estimates legally binding?

    No, estimates are not legally binding.

  • What is the difference between an estimate and an invoice?

    There is a huge difference between an estimate and an invoice. Estimates are sent by the vendors to the potential clients, as an an approximation to the total purchase made. Invoices, on the other hand, are confirmation of the purchase made. Invoices are legally binding and raise a payment obligation before the purchaser.

  • Can I save my business and customer information?

    To save or print an estimate, sign up with InvoiceOwl and purchase any of our plans. InvoiceOwl’s pricing plans start from, Growth ($9.99) or Champion ($23.99). Once logged in, you will be able to save all your documents, business data, and client details for a long time.

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