‘Quote’ is a document sent to a potential customer offering to sell goods or services at a certain price, under specified conditions. It is used to let potential customers know the cost of goods or services before they make their purchase decisions. When a seller sends a quotation, he commits himself to a certain price. Once the customer approves the quote, it gets converted into a Sales Order.
In OE Options-> Processing Tab, you can find two options in Sage 300 ERP for ‘Quote’.
1.   Default Quote Expiration Days: It sets the number of days for expiration of the current quote. Order Entry displays the default expiration date based on the number specified on the O/E Options form.
2.    Clear Expired Quote After _ days: Select this option if you want to specify a number of days after which, expired quotes will be deleted from the system. Order Entry deletes expired quotes from the system when you run Day End Processing. If you do not select this option, expired quotes will not be deleted.
New Stuff: Vendor item cost and rating

In Sage 300 ERP-> OE Module-> Order Entry screen, when you select Order Type as Quote, Expiration date field appears.Order Entry displays a default expiration date based on the number of days specified on the O/E Options form. You can also enter the date manually.
Note that you cannot allocate serial numbers and lot numbers to the order quantity for quotes.
Note: If you do not change the quote to an order before the expiration date, Order Entry automatically removes the quote when you run Day End Processing. If you selected the option to Clear Expired Quotes and specified a number of days on the O/E Options form, Order Entry deletes the expired quote from the system the next time you run Day End Processing after the specified days. If you do not select the option to Clear Expired Quotes, expired quotes will not be deleted.