Creating professional estimates in Wave is quick and easy. When your client accepts the estimate, you can go right ahead and convert it straight to an invoice to save even more time.
Create an estimate
- Click on Sales in the menu on the left, then select Estimates.
- Click the Create an estimate button at the top right. You can then do the following:
- Under Add an Estimate, change the title and estimate number.
- Open the Customer drop-down menu, and select a customer, or click Add new customer.
- Select a Currency from the drop-down menu.
- Choose a Date, the date the estimate Expires on, and a P.O./S.O.
The expiry date sets when an estimate’s status will change to Expired. It can be used to set when the product’s or services' prices are no longer accurate. To learn more about estimate statuses, check out this Help Center article.
- Add a Subheading, Footer, and any additional notes in the Memo section.
- In the first column (this may be called Items, Products, or something else, depending on your default settings) select a product or service for this estimate from the dropdown menu, or click Add new product. Then fill in the following fields:
- Description (optional)
- Tax (if applicable)
The Discount feature isn't available for estimates. If you would like to add a discount, add a separate line item and name it, for example, Discount, then enter a negative amount in the Price column. If you decide to convert this estimate into an invoice, remember to delete this line, and use the Discounts feature instead, for accurate accounting.
- If the estimate is for multiple products or services, click Add a line, and fill in the line item’s details again. The tax and total amounts will be calculated automatically.
- Select Save. Your estimate's status will change to Saved.
The estimate won't affect your reports, unless you decide to convert the estimate into an invoice.
- You will then be brought to the Estimate view screen, where you can:
- Edit the estimate
- Convert it to an invoice
- View it as a customer
- Send it to your customer
There are multiple ways you can send an estimate to your customer. Take a look at this Help Center article for more information on the different methods.
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