Creating a New Quote in NetSuite
NetSuite is a powerful CRM, ERP, and eCommerce platform, so it's not a surprise that it has a robust quoting tool. This tutorial walks you through how to create a new quote in NetSuite, including the basic quote information and all of the subtabs found in a new quote.
How to Create a New Quote in NetSuite
While there are a few ways to create quotes in NetSuite, the easiest way is to do it from the record of the customer you're creating a quote for.
- Navigate to the customer record you want to create a quote for
- From the create new button, select quote
Filling Out Information in a New Quote
Once you've created a new quote, it's time to fill out all of the necessary information. The customer's information will be populated automatically, but there are a few extra items that are beneficial to fill out if you're able to. Also, keep in mind that your NetSuite software might look different from ours if it's customized.
- Add a sales rep - add the name of the sales rep under the "sales rep" dropdown under the primary information section
- Add a partner if needed - this isn't a required field, but you can add a partner underneath the sales rep dropdown if needed
- Form - This field changes the layout of the form. Your company should have a default form you're supposed to use here. If you're not sure what the correct form is, talk to your manager or systems administrator.
This section is used to create reports to forecast future sales. If you see this section on your quote, we recommend filling out as much information as possible. If you don't have the correct information on hand right now, make sure you update the record later as more information becomes available to you.
- Status - select the current status of the quote using the dropdown menu. Options include in discussion, proposal, in negotiation, closed/lost, and purchasing.
- Probability - the probability of the deal closing, shown in percentages.
- Expected close date - the date this deal is expected to close
- Lead source - make sure to set the source you received the lead from if known, as it can help with future marketing efforts
New Quote Subtabs
Add additional information on the quote in the subtabs section. Subtabs included are items, billing, promotion, shipping, gross profit, contacts, and activities.
Add items to the quote using the items subtab. As a quick note: adding items to a quote doesn't take them out of available inventory.
- Click on the dropdown and select list. This will show you a list of all items in NetSuite -- if you know the name of the item, you can search for it.
- Click on the item's name to add it to the quote, then make sure to enter the correct quantity for each item.
- Use the item price level to adjust the price if needed, such as adding discounts.
- View the price per unit and total amount to make sure it's accurate.
- To add more items to the quote, click on the add button.
This subtab shows the default billing terms for this customer. It defaults to whatever terms the customer has already set up. If you need to change the billing terms, click on the terms dropdown and select the correct item.
Use this section to apply any relevant promotions, coupon codes, and discount rates
- Promotion - use this dropdown to select an applicable promotion. Once selected, it will populate the subtab's other fields such as discount and rate.
- Discount - in addition to the promotion dropdown, you can also set discounts here.
- Rate - Use this box to add discounts in either percentages or dollars. For example, if you wanted to give the customer 10% off, you'd type in -10%.
This is where shipping information can be added and calculated. You can add information such as the shipping carrier, shipping method, and shipping tax code if necessary.
Gross profit subtab
This subtab shows what the gross profit for the sale is. With the example we used for this tutorial, it actually shows a negative gross profit because of the discounted price level and coupon code.
This subtab is pretty simple -- it shows all contacts associated with this customer. This includes the contact's name, job title, email address, phone number, and role (such as primary or secondary contact). You can add new contacts here if needed.
You can use the activities subtab to send a completed quote directly to the customer from NetSuite. Simply choose how you want the information to be sent by selecting the appropriate checkbox: your options are print, email, or fax.
If you choose to email the customer, you can add a custom message on the right-hand side.
Don't Forget to Save Your Quote!
After all the changes we made above, it's important to make sure to click the save button at the bottom of the quote screen. Once you've saved the quote, you'll see a message pop up that says "Transaction successfully saved". If you still need to make changes after saving the quote, you can click the edit button under the customer's name.