What does the 'Estimate' feature in QuickBooks primarily allow users to do?

The 'Estimate' feature in QuickBooks is primarily designed to help users generate quotes for customers before invoicing. This feature allows businesses to provide potential customers with detailed proposals that outline the services or products offered along with their estimated costs. By using estimates, companies can effectively communicate pricing and scope of work to clients, helping to secure projects before any invoices are generated.

Additionally, estimates can be converted into invoices once the customer agrees to proceed, streamlining the transition from proposal to billing. This process enhances efficiency in managing customer relationships and maintaining accurate financial records.

The other options do not align with the primary functionality of the 'Estimate' feature. For instance, creating detailed vendor bills pertains to managing expenses rather than quoting services to customers. Tracking inventory involves monitoring stock levels for products, and recording customer payments relates to processing transactions rather than providing initial pricing proposals. Therefore, the focus on generating quotes is what distinctly characterizes the 'Estimate' feature in QuickBooks.