In this article, we will explore the functionality of the Estimates feature. Depending on your business and the system's functional requirements, the Estimate/Quotes feature may or may not be enabled. If the feature is not activated, the option to create Estimates records during transaction creation remains invisible.
The Estimates feature holds significant importance for businesses engaged in or aspiring to utilize quotes. Locating this feature is a straightforward process, accessible through Setup > Company > Enable Features > Transactions Subtab. Access to this area is exclusive to the Administrator role, ensuring that enabling the Estimates feature extends visibility to users throughout the NetSuite account.
Estimates/Quotes play a crucial role by extending the capabilities of Leads/Prospects records. With this feature enabled, there is no longer a necessity to convert these records into Customers solely to generate a Sales Order. This eliminates the need to resort to Sales Orders as substitutes for Quotes due to the absence of the Estimates function. By having the Estimates feature enabled, companies can seamlessly create Quotes without the previous constraints.
One notable advantage of this feature is its capability to convert Quotes into Sales Orders. Once a Quote is presented to a Prospect or potential customer, a designated button allows the effortless creation of a Sales Order. This streamlined process significantly reduces the time required to generate a sales order for a potential client. The conversion ensures that the information entered into the Quote is seamlessly transferred onto the Sales Order record. Given the similarity between these records and the consistent information they entail, this feature facilitates accurate creation of quotes for businesses.
In essence, the Estimate/Quotes feature proves to be a valuable tool within the NetSuite platform. If you have any questions about this feature or require additional information, feel free to reach out to the Concentrus Team—we're here to help!
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