Understanding document types (RFQs, Quotes, POs, Invoices, SOs, Bills, Payment Records)

Owner: Buyer
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​Purpose: Invite suppliers to submit price bids for products or services.

Create an RFQ when you need quotes from multiple suppliers. Add your requirements, specifications, quantities, and deadline. Invite suppliers via email or via a no-login share link, they can submit quotes without logging in. All responses land in one dashboard for easy comparison of quotes side by die.
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When to use: Starting a new procurement process, comparing supplier pricing, sourcing new products from suppliers you already know.

Owner: Seller
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​Purpose: Propose pricing and terms to buyers.

Respond to buyer RFQs or create standalone quotes for sales opportunities. Add line items, pricing, payment terms, and delivery details. Send via email, share link, or download a PDF copy and send via messenger apps.
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When to use: Responding to RFQs, creating new sales proposals, providing pricing to prospective buyers.

Owner: Buyer
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​Purpose: Confirm intent to purchase based on accepted quote or pre-agreed terms.

Create POs from accepted quotes (one click conversion) or independently for direct purchases. All quote details auto-populate, zero manual entry. Send to supplier for acceptance. Once accepted, the PO creates a Sales Order on the supplier's side.
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When to use: After accepting a quote, making direct purchases from known suppliers, formalizing purchase commitments.

Owner: Seller
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​Purpose: Accept and confirm a buyer's purchase order.

Sales Orders are automatically created when buyers send you POs. Review the auto-generated SO, confirm delivery timeline and terms, then update status to "Sent." The SO is confirmed and moves to fulfillment stage. Buyers receive confirmation notification.
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When to use: Accepting buyer POs, confirming order fulfillment, committing to delivery schedules.

Owner: Seller
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​Purpose: Request payment for delivered goods or completed services.

Generate invoices from Sales Orders with one click. All details auto-populate from the SO, no retyping. Record payments manually or collect digitally via Quotable Payments or Quotable Wallet. When you create an invoice, a corresponding Bill is automatically generated on the buyer's side.
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When to use: After delivery, requesting payment, billing based on payment terms (deposit, milestone, net terms).

Owner: Buyer
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​Purpose: Internal record and approval of payable amount based on received invoice.

Bills are automatically created when suppliers send you invoices. AI extracts invoice details (99% accuracy) and matches them to your POs. Review, acknowledge, and approve bills before processing payment. You can also create independent bills by uploading supplier invoices manually and linking it a PO, once linked, the PO will auto generate the PO details and you can attach the suppliers invoice to the bill.
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When to use: Receiving supplier invoices, tracking payables, managing payment approvals, recording offline invoices.

Owner: Both (Buyer & Seller)
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​Purpose: Record financial settlement of an invoice or bill.

Payment Records are created automatically when payments are made via embedded payments (Quotable Payments/Wallet) or manually recorded for offline payments (bank transfer, check). Track payment status from Unverified → Verified → Paid. Supports partial payments and multiple payment methods.
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When to use: Recording online payments, logging bank transfers, tracking check payments, managing partial payments.

Owner: Seller
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​Purpose: Confirm physical dispatch and receipt of goods.

Create Delivery Records from Sales Orders or Invoices. Add courier details, tracking links, and shipment information.
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Update status as shipments progress: Pending Shipment → In Transit → Out for Delivery → Delivered. Upload proof of delivery. Buyers confirm receipt via magic link.
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When to use: Shipping orders, providing tracking information, confirming deliveries, managing logistics.

RFQ → Quote → PO → SO → Invoice → Bill → Payment Record + Delivery Record
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Quotable adapts to how you actually work:

All documents remain connected and traceable regardless of which flow you use.
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RFQ, Purchase Order (PO), Bill, Payment Record, Delivery Record
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Quote, Sales Order (SO), Invoice, Payment Record, Delivery Record

​Note: Bills are completely hidden from Seller users.

Upload any document and AI automatically extracts data with 99% accuracy. No manual typing required.

Formats:

Documents inherit data from previous steps. Create PO from Quote, Invoice from SO, Bill from Invoice, all with one click.
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Recipients can view, respond, and take action via email links without creating accounts.
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Every document has specific statuses (Draft, Sent, Received, Paid, etc.) for complete visibility.
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Upload documents from the other party (like supplier invoices) even if they're not on Quotable. System marks them as reference-only.

Understanding each document type helps you choose the right one for each transaction stage. Quotable connects all documents automatically, creating a complete audit trail from first quote to final payment, eliminating spreadsheets and email chaos.

​Master these document types to maximize Quotable's power. Each document connects seamlessly to the next, creating one unified system from quote to cash.