In NetSuite, Opportunities and Quotes are both part of the sales process but serve different purposes and stages in the sales cycle. An Opportunity represents a potential sale—it’s a preliminary record created when a lead shows interest in your product or service. It allows sales reps to track potential revenue, forecast sales, and monitor progress through different sales stages. Opportunities help in pipeline management but do not represent formal offers or commitments.
A Quote, on the other hand, is a formal sales document sent to a customer specifying prices, quantities, and terms for products or services. It’s often created from an opportunity once the deal progresses. A quote can be converted into a sales order if the customer accepts it. In short, Opportunities are used for tracking and forecasting, while Quotes are customer-facing and actionable documents used to finalize a sale.