Using Microsoft Dynamics CRM, you can create product or service quotes for contacts or accounts, and can use that as a basis for orders, and then for invoices. If the quote was created based on an opportunity, you can associate the quote to the opportunity, thus retaining the history. For more information about opportunities, see Follow a lead from creation through closure.
Note
You cannot use quotes, orders, or invoices until someone in your organization has set up the product catalog. After the product catalog is in place, you can add products to your quotes, orders, and invoices.
A sale is often preceded by a quote, or a series of quotes. A quote might go through several revisions before it becomes an order. When a customer has agreed to the terms of an order, for one or more of your products, you can create an invoice to record the upcoming sale. Here is a typical lifecycle for a quote. At each step, the history of the base opportunity, quote, and order are maintained:
- When you're ready to create a quote, associate the opportunity with the quote. The opportunity will track all quotes, orders, and invoices that are associated with it.
- Add pricing and discount information. Print the quote and send it to the customer.
- When you and the customer agree on the terms of the quote, update the quote. You can edit it to reflect product, service, or price options. Quotes can have revisions, so you can track negotiations with your customer.
- Convert the quote to an order. If the quote originated from an opportunity, you'll be prompted whether to close the opportunity. Add shipping information.
- When the order is partially or fully fulfilled, you can convert it to an invoice. Print the invoice and send it to the customer.
- When the customer has paid, close the invoice. Your final task for the quote-order-invoice cycle is closing the invoice, either because it has been paid or cancelled.
The following diagram illustrates how a quote that you create in Microsoft Dynamics CRM is converted into an order, and then into an invoice.
Related Links
Are your customers buying?
Follow a lead from creation through closure
Overview: Build the product catalog
