Free Quote & Estimate Template (Excel)

A clear, professional quote is what turns an interested prospect into a signed client — and it sets the expectation before any work begins. This free template calculates your subtotal and total automatically as you enter line items, so you can send a polished estimate in minutes.

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No email required · Works in Excel or Google Sheets · Includes a built-in AI prompt

Who this is for

Freelancers and contractors quoting jobs before they start
Service businesses that price project-by-project rather than a fixed rate
Anyone tired of quoting prices informally over email or text
Small businesses formalizing their sales process

What's included

Editable business info and client info fields
Line-item table with automatic Subtotal and Total calculations
Quote validity period and terms section
Built-in AI prompt to help you tighten your quoting and follow-up process

Why use a template instead of starting from scratch?

An informal price mentioned over a phone call or in a text message is easy to forget the details of and doesn’t look professional. A written quote sets clear expectations for both sides and gives you something concrete to convert into an invoice once the work is approved.

How to Use This Template

Download and open in Excel or Google Sheets

Works identically in either — no macros or add-ins needed.

Fill in your business info once

Save a copy as your master template so you’re not retyping this every time.

Add the client’s info and the line items for this specific job

The subtotal and total calculate automatically as you fill in quantity and rate.

Set a validity period

A quote that’s open-ended can come back to bite you if costs change — 30 days is a common standard.

Send it, and convert to an invoice once approved

Once the client signs off, the free Invoice Template mirrors this same format for billing.

Built-in AI prompt

Once you've filled this template in, it includes a ready-to-use prompt at the bottom of the sheet. Attach your saved file to ChatGPT, Claude, or any AI chat tool and paste it in — you'll get plain-English feedback on how to tighten your quoting language and follow-up timing to convert more quotes into signed work, no accounting background required.

Common Mistakes to Avoid

Leaving the quote open-ended with no expiration

Costs and availability change — always include a validity period so an old quote can’t be used to lock in an outdated price.

Being vague about what’s included and excluded

Scope disputes usually trace back to a quote that didn’t clearly define what was and wasn’t covered — be specific.

Quoting verbally and never following up in writing

A verbal price is hard to enforce and easy to misremember — always follow up with something written, even for a simple job.

Forgetting to follow up after sending

Quotes sitting in an inbox get forgotten — a polite check-in a few days later measurably improves conversion.

Frequently Asked Questions

What’s the difference between a quote and an estimate?

The terms are often used interchangeably, but strictly, a quote is a fixed price commitment, while an estimate is an approximate figure that may change once the full scope is known. Be clear with your client about which one you’re providing.

Should I charge for providing a quote?

Most quotes are provided free as part of the sales process, though highly detailed or time-consuming estimates (like a full project scoping) are sometimes billed separately — this varies by industry.

How is this different from an invoice?

A quote is sent before work begins to propose a price; an invoice is sent after work is complete (or per agreed terms) to request payment. This template’s format mirrors the free Invoice Template so converting one to the other is straightforward.

Is this template really free?

Yes, completely free, no email required. iLuvAccounting also has a paid Tools Club with 70+ templates, including Purchase Order and Retainer/Deposit Invoice templates for more complex billing needs.

How long should a quote stay valid?

30 days is a common default, though it depends on your industry and how quickly your costs change — shorter validity periods are reasonable if material or labor costs fluctuate often.

What should I do if a client wants to negotiate the quoted price?

Decide in advance what flexibility you have on price versus scope — it’s often easier to adjust what’s included than to simply discount the same scope of work.

Can I use this quote template for both products and services?

Yes — the line-item structure works for either; just adjust the descriptions to match what you’re quoting.

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