Quote Tracking in Excel
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Quote tracking is the process of controlling and monitoring the status of each quote you send to your clients. Without proper tracking, quotes get lost among emails, expire without response and sales opportunities are lost.
In this complete guide we teach you how to create a quote tracking system with Excel, including comparison table, status control and free template to manage all your quotes professionally.
Why quote tracking is important
Sending a quote is only half the process. The other half is following up to know if the client received it, reviewed it, has questions or needs adjustments. Without follow-up, many quotes are forgotten.
Tracking benefits
| Benefit | Description |
|---|---|
| Total control | You know exactly the status of each quote |
| Higher conversion | Follow-up increases closing probabilities |
| Organization | You avoid losing quotes among emails |
| Informed decisions | You identify which quotes have the most opportunity |
| Process improvement | You learn from rejected quotes to improve |
Quote statuses
Before creating your tracking system, you must define the statuses each quote will have:
Typical statuses
- Draft: Quote in creation process, not yet sent.
- Sent: Quote sent to client, awaiting response.
- Viewed: Client opened and reviewed the quote (if you use read receipts).
- In negotiation: Client requested adjustments, discounts or changes.
- Accepted: Client accepted the quote and is ready to proceed.
- Rejected: Client rejected the quote.
- Expired: Quote passed its validity date without response.
- Closed: Sale was completed and order processed.
Color codes
Assign a color to each status for quick identification:
| Status | Color | Hex code |
|---|---|---|
| Draft | Gray | #808080 |
| Sent | Blue | #0000FF |
| Viewed | Light green | #90EE90 |
| In negotiation | Yellow | #FFFF00 |
| Accepted | Green | #008000 |
| Rejected | Red | #FF0000 |
| Expired | Orange | #FFA500 |
| Closed | Black | #000000 |
Create tracking system in Excel
Tracking sheet structure
Create a sheet called “Quote Control” with the following columns:
| Column | Content | Example |
|---|---|---|
| A | Quote number | QUO-2026-001 |
| B | Sending date | 08/19/2026 |
| C | Expiration date | 09/02/2026 |
| D | Client | XYZ Company |
| E | Contact | Juan Perez |
| F | Total amount | $45,000.00 |
| G | Status | Sent |
| H | Days remaining | =C2-TODAY() |
| I | Notes | Awaiting response |
Automatic control formulas
Days remaining until expiration:
=IF(G2="Accepted","-",IF(G2="Rejected","-",C2-TODAY()))Expiration alert:
=IF(H2<0,"EXPIRED",IF(H2<=3,"EXPIRING SOON",""))Conditional formatting for colors:
- Select column G (Status).
- Go to Format > Conditional Formatting.
- Create rules for each status with its corresponding color.
Quote comparison table
When you receive multiple quotes for the same project, you need to compare them objectively. A comparison table helps you choose the best option.
Comparison table structure
| Criterion | Weight (%) | Quote 1 | Quote 2 | Quote 3 |
|---|---|---|---|---|
| Total price | 30 | 4 | 5 | 3 |
| Delivery time | 20 | 5 | 3 | 4 |
| Warranty | 15 | 3 | 4 | 5 |
| Payment conditions | 15 | 4 | 4 | 3 |
| References | 10 | 5 | 3 | 4 |
| Technical support | 10 | 3 | 5 | 4 |
| WEIGHTED TOTAL | 100 | 4.10 | 4.15 | 3.65 |
Weighted score formula
In the total cell for each quote, use:
=SUMPRODUCT($B$2:$B$7,C2:C7)/100This formula multiplies each score by its weight and sums the result.
How to read the table
The supplier with the highest weighted score is the best option according to your evaluation criteria. However, check if there are non-weighted factors that may influence the decision.
Complete tracking template
Sheet 1: Sent quotes control
Track each quote with its status, dates and notes.
Sheet 2: Comparison table
Compare multiple quotes for the same project.
Sheet 3: History
Historical record of all quotes with results.
Sheet 4: Dashboard
Graphic summary with charts of statuses, amounts and trends.
Common mistakes in quote tracking
Not following up in time
Waiting weeks to follow up makes the client lose interest. Contact within the first 3 to 5 days after sending the quote.
Too insistent follow-up
Calling every day creates rejection. Maintain a balance: initial follow-up at 3 days, another at 7 and another at 14.
Not recording responses
If the client responds with questions or adjustment requests, record it in the notes. This helps you remember the context in the next contact.
Not updating statuses
If the quote status changes, update the record immediately. An outdated system is not useful for making decisions.
Not analyzing rejected quotes
Rejected quotes are a learning opportunity. Analyze why they were rejected to improve future proposals.
Basic automation with conditional formatting
Highlight expired quotes
- Select column H (Days remaining).
- Conditional formatting > Rule: If value is less than 0.
- Format: Red fill with white text.
Highlight expiring quotes
- Select column H.
- Conditional formatting > Rule: If value is between 0 and 3.
- Format: Yellow fill.
Highlight accepted quotes
- Select column G (Status).
- Conditional formatting > Rule: If text contains “Accepted”.
- Format: Green fill.
Best tracking practices
- Set reminders: Use alarms or calendar reminders to follow up.
- Personalize each contact: Don’t use generic messages. Mention specific details of the quote.
- Offer value: In each follow-up, offer additional information or resolve questions.
- Record everything: Every interaction should be recorded for future reference.
- Analyze metrics: Review how many quotes you accept vs reject and why.
Frequently asked questions
How many days should I wait to follow up?
Wait 3 to 5 business days after sending the quote. If the project is urgent, you can reduce to 2 days.
What do I do if the client doesn’t respond to follow-up?
After 2 or 3 attempts without response, send a final email indicating the quote is about to expire and you are available if they change their mind.
Can I use a CRM instead of Excel?
Yes, CRMs like HubSpot, Salesforce or Zoho are more complete. But Excel is a good initial and free option.
How do I handle multiple pending quotes?
Organize by expiration date and prioritize those that are about to expire. Use Excel filters to see only pending ones.
What metrics should I track?
Track: conversion rate (accepted/sent), average closing time, rejection reasons and average amount per quote.
Frequently asked questions
What is quote tracking?
Quote tracking is the process of controlling and monitoring the status of each quote sent to clients: pending, sent, viewed, accepted, rejected or expired. It allows you to know at all times which quotes require action and which have closed.
How do I make a quote comparison table?
Create an Excel table with columns for supplier, price, conditions, delivery time, warranty and score. Assign a score from 1 to 5 for each criterion based on its importance. Multiply the score by the criterion's weight and add to get the total.
How often should I check my quote status?
Check your quote status at least once a week. If you handle many quotes, do it every 2 or 3 days. The important thing is to keep control updated to make timely decisions.
What do I do if a quote is about to expire?
If a quote is about to expire, contact the client to remind them of the deadline and ask if they have questions. You can offer a deadline extension or adjust conditions if necessary to close the sale.
Can I automate tracking with Excel?
Yes. Use conditional formatting to automatically highlight expired or expiring quotes. You can also use macros to send automatic reminders or generate reports.