Businesses that make heavy use of quotes should be aware of the lifecycle of a quote as well.
Quotes let you discuss pricing for a service with a customer.
- Create a quote.
- Send a quote to a customer.
- The customer will receive the quote.
- The customer will be able to accept or decline the quote.
- If the customer accepts, the quote will convert to an invoice. If you have automatic scheduling enabled, the invoice will deliver on the scheduled date.
- If the customer declines, the quote status sets to rejected. If the customer rejects a quote, you can adjust or update the quote.
- If you set an expiration date for the quote and the customer doesn’t accept or reject the quote before the expiration date, the quote’s status will set to rejected.
Depending on how an invoice was created and when the end user pays its balance, an invoice can take several paths.
In general, an invoice goes through the following steps:
- Create a quote either manually or by converting an accepted quote.
- Send the invoice to a customer.
- The customer will receive the invoice.
- The customer will be able to pay for the invoice at their convenience by clicking a link to a Converge Hosted Payments Page. The invoices status will remain Unpaid until the customer has paid.
- If the customer submits valid payment information, the invoice’s status will convert to Authorized. While the status is set as Authorized, a merchant can add charges for other services on top of those from the original quote. When the authorization period completes, the full total will submit for processing.
- If the invoice has a pay-by date associated with it and the