How to use Documents & Contracts?

Proposals and estimates in Stack allow you to create detailed outlines of services or generate succinct cost agreements. With a versatile document builder featuring text, images, videos, tables, and more, along with digital signatures and document state management, this feature serves as a comprehensive solution for professional business communication. Whether you’re sharing a company’s background or listing products and prices, these documents adapt to various needs, simplifying interactions with potential clients.

What are Proposals and Estimates?

Proposals

A proposal is a detailed document designed to convince prospective clients to choose a particular service or product. It includes:

• Introduction: Overview of the problem, need, or goal.
• Objective: Detailed explanation of the proposed solution.
• Scope of Work: Breakdown of tasks, methods, deliverables, and timeline.
• Pricing: A comprehensive cost structure that can include a detailed estimate or fixed price.
• Terms and Conditions: Legal and procedural details.
• Credentials: Information about the company, past work, testimonials, etc.
• Call to Action: Steps for the client to proceed, such as a signature.

Proposals are often customized to the client’s specific needs and are used to secure a contract or project.

Estimates

An estimate provides prospective clients with a general idea of the costs of a project or service. It includes:

• Description of Service or Product: A brief overview of what’s offered.
• Breakdown of Costs: This may include labor, materials, and other associated costs.
• Total Cost: A summarized total price.
• Terms and Conditions: Including validity of the estimate, exclusions, etc.

Estimates are typically used in the early stages of discussions with a client, providing a ballpark figure that helps them gauge whether to proceed.

Comparison Between Proposals and Estimates

• Depth: Proposals are more detailed and tailored, whereas estimates are generally shorter and more generic.
• Purpose: Proposals are used to win a contract, while estimates give an initial idea of the cost.
• Content: Proposals include thorough project details, while estimates focus on cost.
• Legal Standing: Proposals can be legally binding once accepted, while estimates are usually not.

Usage Cases

Usage Cases for Proposals

• Project Bidding: Responding to RFPs with a complete plan and cost.
• Launching New Products/Services: Presenting benefits, features, pricing, and terms.
• Partnership or Collaboration: Outlining mutual benefits and terms.
• Grant Applications: Applying for funding with detailed plans and budgets.
• Investment Attraction: Showcasing business models and financial projections.
• Contract Renewal or Modification: Renegotiating terms or renewing contracts.

Usage Cases for Estimates

• Initial Client Engagement: Offering a general cost idea to foster engagement.
• Budget Planning: Helping clients plan budgets with estimates from multiple vendors.
• Quick Sales Process: Providing immediate cost understanding in retail or sales.
• Feasibility Study: Assessing financial feasibility in early project stages.
• Event Planning: Offering package estimates for clients to choose from.
• Insurance Claims: Estimating repairs or replacements for policyholders.

How to Use This Feature

Creating a Proposal or Estimate

Navigate to Payments ➝ Proposals & Estimates. Click on New and choose between creating a Proposal or an Estimate.

Elements Inside the Document Builder

• Text: Insert headings, paragraphs, lists, and style them using text editing tools.
• Image: Insert images from the Media Library or a URL, and adjust properties like alignment and size.
• Video: Embed videos from platforms like YouTube or Vimeo.
• Table: Structure data with options to add rows, columns, and customize appearance.
• Product List: Offer a list of services, add taxes and discounts.
• Add Discount: Apply a discount to the subtotal by amount or percentage.
• Amount Due: Displays the total amount due after discounts.
• Signature: Accept digital signatures to formalize agreements.

Document Variables

Document variables are placeholders that dynamically fill with specific content or data, standardizing information across documents.

Creating a Document Variable

1. Define the Variable Name: A unique identifier for the variable.
2. Set the Variable Value: The specific data that replaces the variable name when the document is executed.

Utilizing Document Variables in Proposals

Use variables like {{project_name}}, {{client_name}}, and {{total_cost}} to quickly generate personalized proposals.

Different States of a Document

• Draft: The document is still being worked on.
• Waiting for Others: Awaiting action from the recipient.
• Finalized: The document is complete and unalterable.

Actions for a Document

• Edit: Modify the document.
• Clone: Create a copy for repetitive tasks.
• Delete: Permanently remove a document.
• Mark as Completed: Finalize the document status.
• Download PDF: Save the document as a PDF.

What Does the Recipient Have to Do?

1. Receive the Document: Access it via email or a shared portal.
2. Review the Document: Check all details before signing.
3. Locate the Signature Placeholder: Find where to sign.
4. Sign the Document: Use electronic methods to sign.
5. Access a Copy: Download or access a copy of the signed document.

FAQs

• Can I send a document to multiple clients?
  Yes, documents can be sent to multiple recipients.

• Can I have multiple people signing the same document?
  Yes, you can add multiple signature boxes for different recipients.

• Does the system capture the legal data required to validate a digital signature?
  Yes, it captures necessary data and generates a signature certificate.

• Can I download the PDF and send it to the client instead of emailing it?
  Yes, the download option is available in the builder.

• Can the client download a PDF without signing the document?
  Yes, the document can be downloaded before signing.

• Will my client receive a copy of the signed document after finishing?
  Yes, a notification with the signed document is sent after signing.

• Can I edit a document after my client has signed it?
  Yes, but it will erase all signed data and must be resent for signing.