What should a quotation include for a Singapore small business?
A quotation should show your company name, UEN and contact details, a unique quote number, the date and a valid until date, the client's legal name, each line with quantity, unit price and amount, any discount, GST only if you are GST registered, the total, the deposit, your terms and an acceptance block for the client to sign.
A quotation is often the first document a client sees from you, and the one they compare against two competitors. Most of the problems with small business quotations are not about price. They are a missing validity date, GST added by a company that is not registered, or a deposit worked out on the wrong number. Here is what to include and the order to do the arithmetic in.
What every quotation should include
There is no single legal template for a quotation in Singapore, so treat this as good practice. A client should be able to accept the quotation without asking you a single question.
- Your details: registered company name, UEN, address, email and phone. Add your GST registration number if you are registered.
- Quotation number: a unique, running number, for example
EX-202610-0012(prefix, year and month, sequence). Revisions keep the number and add R1, R2. - Dates: the quotation date and a valid until date written out in full.
- Client details: the client's legal name as it appears on their letterhead, the attention person and address.
- Lines: item, short description, quantity, unit and unit price, with the line amount worked out.
- Totals: subtotal, discount, net amount, GST if registered, total and deposit.
- Terms: payment, lead time, delivery, and what happens if the client changes the scope.
- Acceptance block: a short statement, name, signature, company stamp and date, so the signed quotation becomes the client's confirmation.
What to leave off: internal cost, supplier prices, markup and exchange rates. If you price from cost, work out the selling price first and show only that.
The arithmetic, in order
Doing the steps in a fixed order is what keeps the totals consistent from one quotation to the next:
Line amount = quantity x unit price, rounded to the cent Subtotal = sum of line amounts Discount = subtotal x discount % Net = subtotal minus discount GST = net x 9%, only if you are GST registered Total = net + GST Deposit = total x deposit %
IRAS states that the current GST rate is 9% and that non-GST registered businesses are not allowed to charge or claim GST. If you are not registered, the GST line is not zero: it should not appear at all. Say so plainly instead, for example "Not GST registered. No GST is charged."
If you are registered, IRAS's price display guidance says prices quoted to customers must be inclusive of GST, and that written and verbal quotations are covered. Showing net prices on each line is fine as long as the total including GST is shown clearly. On rounding, IRAS allows the total GST to be rounded to the nearest cent, provided you apply the same method consistently.
Worked example
A gifting company quotes Client Company Pte. Ltd. on 31 October 2026 for 120 engraved 1 litre bottles at S$18.50 each, design and proof at S$150, one delivery at S$60, with a 5% discount and a 50% deposit. Validity is 14 days.
| Line | Qty | Unit price (S$) | Amount (S$) |
|---|---|---|---|
| Insulated bottle, 1,000 ml, laser engraved, gift box | 120 | 18.50 | 2,220.00 |
| Design and proof, two rounds of changes | 1 | 150.00 | 150.00 |
| Delivery, one location in Singapore | 1 | 60.00 | 60.00 |
| Subtotal | 2,430.00 | ||
| Discount (5% of 2,430.00) | (121.50) | ||
| Net amount | 2,308.50 |
The rest depends on GST status:
| Not GST registered | GST registered | |
|---|---|---|
| Net amount | 2,308.50 | 2,308.50 |
| GST at 9% | Not shown | 207.77 |
| Total | 2,308.50 | 2,516.27 |
| Deposit due on acceptance (50%) | 1,154.25 | 1,258.14 |
| Balance | 1,154.25 | 1,258.13 |
GST is 2,308.50 x 9% = 207.765, rounded to 207.77. The deposit on the registered total is 1,258.135, rounded to 1,258.14, so the balance is 1,258.13 and the two still add back to 2,516.27. The quotation number is EX-202610-0012 and it is valid until 14 November 2026.
Common mistakes
Adding GST when you are not registered
This usually happens when a quotation is copied from a supplier's template or from an old company. Check your GST status before you send the first quotation, and remove the GST line from your template if you are not registered.
Working the deposit out on the wrong number
A deposit taken on the subtotal before discount overcharges the client; one taken before GST undercharges you. Always take it on the final total.
No validity date
Without one, a client can accept a three month old price after your costs have gone up. Print the date, not only the number of days.
Changing a sent quotation without a new revision
If you change the price or scope, issue R1 with a new date. Two different documents with the same number cause problems when the invoice is raised.
Leaving internal figures in the file
Hidden spreadsheet columns and cost notes have a way of reaching clients. Keep costs in a separate working file.
How the free Quotation Builder Kit does it
The Quotation Builder Kit is a free AI skill with a Python script. You give the AI the client and the line items; it numbers the quotation, works out the discount, GST at 9% only if your company setup says you are registered, the deposit and the valid until date, and shows you the totals before it builds a branded A4 PDF with your terms and an acceptance block. It never prints internal costs or margins, and it drafts a short cover email for you to send yourself.
This article is general reference material for Singapore businesses and not tax or legal advice. Check current IRAS guidance for your GST position before you rely on it.
Frequently asked questions
What is the difference between a quotation and an invoice?
A quotation is an offer: it states what you will supply, at what price and on what terms, and it is valid for a set period. An invoice asks for payment for goods or services you have agreed to supply or have supplied. Once the client accepts a quotation, the invoice should follow its prices and terms.
Can a business that is not GST registered add GST to a quotation?
No. IRAS states that non-GST registered businesses are not allowed to charge or claim GST. If you are not registered, leave GST out entirely and add a line such as "Not GST registered. No GST is charged." so the client does not wonder whether it was forgotten.
Does a GST registered business have to quote prices including GST?
IRAS's price display guidance says a GST registered business must quote prices inclusive of GST, and that this covers written and verbal quotations. Stating that prices are exclusive of GST is not acceptable unless the GST inclusive price is also shown, so make sure the total including GST is clearly on the quotation.
How long should a quotation be valid for?
There is no fixed period. Many small businesses use 14 or 30 days, depending on how quickly their own costs change. Print the actual valid until date rather than only "valid for 14 days", so there is no argument about when the period started.
Should the deposit be calculated before or after GST?
Calculate it on the final total the client will pay. If you are GST registered, that is the total including GST. Working the deposit out on the subtotal before discount or before GST is one of the most common reasons a quotation has to be re-issued.
Sources
Holly is a Chartered Accountant (Singapore) and ISCA member who runs the finance and corporate services function of a Singapore company. She founded Halynce Advisory and writes every AccountingAI skill from real month-end, payroll and HR work.