Introduction
A Purchase estimate an informal document usually used during the initial stages of sales. It is also a way to agree or negotiate on the price and scope of work before it commences. An estimate depicts the amount that the seller wants to charge for goods or services yet to be supplied to a potential customer.
Using BizGaze’s “Purchase estimate app,” an optimized price quotation is automated by managing the quoted price before the sale.
Stage Workflow
Default stages of the Biddings App:
| Stage Name | Stage Description |
| Draft | Estimates generated but not processed. |
| Approval | Estimates generated and required manager approval to process. |
| Active | Estimates approved by the manager. |
| Completed | Estimate is processed successfully. User can also convert the Bid to an Order by selecting ‘Create Order’ option and the click on Save. |
| Void | Invalid Bid. User can void the existing Bid by selecting ‘Void’ option from the stage list. |
Portlets & Widgets
In the layout view, a Portlet accurately represents each functionality, and its corresponding data is precisely viewed as a Widget. The following section includes the default portlets and widgets of the Purchase Estimate App
Details
This section contains Purchase Estimate details like Estimate number, Dates, Delivery Date, Amount, Purchase Executive Name and Organization Details
| Field name | Description |
| Organization | Organization’s name is displayed |
| Org Contact | Contact person’s name of the organization (user’s name) |
| LoB | A business segment can be identified by the product(s) sold or services provided or by geographical locations that the company operates in. |
| Estimate No. | Order number of the Estimate is displayed. It refers to a unique identifier assigned to an estimate or a quotation that a seller provides to a potential customer |
| Estimate Date | Displays the date when the Estimate is placed |
| Estimate Expiry Date | The date when the Estimate validity period ends and the Estimate may no longer be applicable, and the pricing or terms may have changed |
| Exp Delivery Date | Delivery date of Estimate order is displayed |
| Reference No. | Reference number associated with the Purchase Estimate for quick identification and tracking purposes |
| Ref Date | Reference date assigned to the Purchase Estimate |
| Purchase Executive | Name of the Purchase Executive is displayed. A Purchase Executive is a professional who is responsible for managing the procurement and acquisition of goods and services for a company. |
| Payment Term | Payment term refers to Specific term of days or Period for which the Invoice due to be cleared. If the Payment Term Exceeds Penalties/Discount can be applied for Late & early Payments. |
| Amount | Amount to be paid for the order |
| Field name | Description |
| Estimated qty | The total quantity of items for which estimate is created |
| Converted orders qty | The total quantity of items for which estimate is converted to orders. User can click on the hyperlink at the top right, which contains detailed report of Converted Order Quantity |
| Expiry days | Displays due date of Purchase Estimate validity after which the Estimate may no longer be applicable, and the pricing or terms may have changed |
Biddings Value Summary
A Biddings value summary provides a comprehensive overview of the total cost of the order, including all the items purchased, their individual costs, and any additional charges such as taxes, discounts, and shipping fees.
| Field name | Description |
| Gross Amount | Gross Amount refers to the total amount of money or value of a transaction before any deductions or expenses are taken into account. It includes all charges, fees, taxes, and other costs associated with the transaction. |
| Discount | Total Discount value given on the item. The “Discount on Items” value is loaded automatically. |
| Tax Amount | Tax Amount refers to the sum of all taxes that are applicable to a transaction or purchase. |
| Assebl. Amount | Assessable Amount refers to the before tax and after discount amount. |
| Net Total | Net Total refers to the final amount that remains after all deductions, discounts, taxes, and other charges have been subtracted from the Gross Amount. It is the actual amount that a customer is required to pay for a product |
Items
Items generally refers to the individual products or services included in a customer’s order when making a purchase from a business. An order item can be a tangible product, such as clothing, electronics, or books, or it can be a service, such as consulting or event tickets.
This section contains the detailed summary of the order items.
| Field name | Description |
| Item name | Displays name of the order items. Item name refers to the name or title of a product, service, or item that is being offered for sale or purchase. |
| Quantity | Quantity of items ordered. Quantity refers to the numerical value that represents the number of items, products, or units that are being purchased or sold in a transaction. It is the total number of units of a product or service that a Vendor is ordering or a seller is providing. |
| SKU | Displays SKU code of the item. A SKU, which stands for Stock Keeping Unit, is a unique identifier for each of the products that makes it easier to track inventory |
| Invoiced qty | The total quantity of items for which Invoice is created. |
| Pieces | Pieces generally refers to the individual units or items of a product that are sold or shipped |
| Cartons | Cartons generally refer to the packaging units used to ship and store products. |
Address Details
This section contains addresses of Billing, Sales, and the Delivery address of the Purchase Estimate
| Field name | Description |
| Delivery Address | Delivery Address refers to the physical location where a package or item is intended to be delivered. It typically includes the recipient’s name, street address, apartment or unit number (if applicable), city, state or province, zip or postal code, and country |
| Delivery from | Delivery From refers to the physical location where a package or item is being shipped or dispatched from. It is the origin or starting point of the delivery process, from where the package or item is sent to the delivery address. |
| Sold By | Sold By refers to the entity or business that is offering a product or service for sale. It could be the manufacturer, distributor, retailer, or a third-party seller. |
| Billing address | Billing Address refers to the address where a customer receives their billing statements or invoices for goods or services they have purchased. |
Actions
| Field Name | Description |
| Print Template allows user to print the Purchase Estimate | |
| Update | If user wants to update the selected template for the Purchase Estimate, click on the ‘Update Template’ option. |
Converted Orders
Converted orders represent the final agreement between the buyer and the seller and typically include details such as the quantity, price, delivery date, and payment terms.
| Field name | Description |
| Order No. | It refers to a unique identification number that is assigned to the order, which helps to track and manage the order throughout the procurement process |
| Order Date | This refers to the date on which the Estimate was Converted. It helps in tracking and managing the order |
| Created By | Displays the user name who created the Purchase Estimate. |
| Amount | Displays total value of the Purchase Estimate which includes the estimated cost of the goods or services, taxes, fees and other charges. |
Activity Log provide users with essential information, notifications, and real-time updates to keep them engaged and informed about key activities in apps related to updates, notifications, and stage changes.
| Field name | Description |
| Comments | User can write short notes or comments about the Purchase Estimate |
| Audit | |
| Created Date | Date when the Purchase Estimate is created |
| Created By | Name of the person who created the Purchase Estimate |
| Last Updated Date | Last stage changed of the Purchase Estimate |
| Last Updated By | Name of the person who last updated the stage |
| Status | Displays the current status of the Purchase Estimate |
| Time-Line | This widget tracks all the activities within the app. |
Reports
A report is a document that presents information in an organized format for a specific audience and purpose. Although summaries of reports may be delivered orally, complete reports are almost always in the form of written documents.
- Purchase estimate reports