diff --git a/erpnext/controllers/status_updater.py b/erpnext/controllers/status_updater.py
index 254d9a6..e791d81 100644
--- a/erpnext/controllers/status_updater.py
+++ b/erpnext/controllers/status_updater.py
@@ -13,15 +13,17 @@
 
 status_map = {
 	"Lead": [
-		["Converted", "has_customer"],
+		["Lost Quotation", "lost_quotation"],
 		["Opportunity", "has_opportunity"],
+		["Quotation", "has_quotation"],
+		["Converted", "has_customer"],
 	],
 	"Opportunity": [
 		["Quotation", "has_quotation"],
 		["Converted", "has_ordered_quotation"],
 		["Lost", "eval:self.status=='Lost'"],
+		["Lost", "has_lost_quotation"],
 		["Closed", "eval:self.status=='Closed'"]
-
 	],
 	"Quotation": [
 		["Draft", None],
diff --git a/erpnext/crm/doctype/lead/lead.json b/erpnext/crm/doctype/lead/lead.json
index 7cd9d60..345dc6e 100644
--- a/erpnext/crm/doctype/lead/lead.json
+++ b/erpnext/crm/doctype/lead/lead.json
@@ -181,7 +181,7 @@
    "no_copy": 1,
    "oldfieldname": "status",
    "oldfieldtype": "Select",
-   "options": "Lead\nOpen\nReplied\nOpportunity\nInterested\nConverted\nDo Not Contact",
+   "options": "Lead\nOpen\nReplied\nOpportunity\nQuotation\nLost Quotation\nInterested\nConverted\nDo Not Contact",
    "permlevel": 0,
    "print_hide": 0,
    "print_hide_if_no_value": 0,
diff --git a/erpnext/crm/doctype/lead/lead.py b/erpnext/crm/doctype/lead/lead.py
index 0c3652f..941223a 100644
--- a/erpnext/crm/doctype/lead/lead.py
+++ b/erpnext/crm/doctype/lead/lead.py
@@ -80,6 +80,22 @@
 	def has_opportunity(self):
 		return frappe.db.get_value("Opportunity", {"lead": self.name, "status": ["!=", "Lost"]})
 
+	def has_quotation(self):
+		return frappe.db.get_value(
+			"Quotation", {
+				"lead": self.name,
+				"status": ["!=", "Lost"],
+				"status": ["!=", "Cancelled"]
+				})
+
+	def lost_quotation(self):
+		return frappe.db.get_value(
+			"Quotation", {
+				"lead": self.name,
+				"status": ["=", "Lost"]
+			}
+		)
+
 @frappe.whitelist()
 def make_customer(source_name, target_doc=None):
 	return _make_customer(source_name, target_doc)
diff --git a/erpnext/crm/doctype/opportunity/opportunity.py b/erpnext/crm/doctype/opportunity/opportunity.py
index b977e26..33faa7b 100644
--- a/erpnext/crm/doctype/opportunity/opportunity.py
+++ b/erpnext/crm/doctype/opportunity/opportunity.py
@@ -48,8 +48,8 @@
 			if not lead_name:
 				sender_name = get_fullname(self.contact_email)
 				if sender_name == self.contact_email:
-					sender_name = None 
-				
+					sender_name = None
+
 				account = ''
 				email_name = self.contact_email[0:self.contact_email.index('@')]
 				email_split = email_name.split('.')
@@ -84,6 +84,10 @@
 		return frappe.db.sql("""select q.name from `tabQuotation` q, `tabQuotation Item` qi
 			where q.name = qi.parent and q.docstatus=1 and qi.prevdoc_docname =%s and q.status = 'Ordered'""", self.name)
 
+	def has_lost_quotation(self):
+		return frappe.db.sql("""select q.name from `tabQuotation` q, `tabQuotation Item` qi
+			where q.name = qi.parent and q.docstatus=1 and qi.prevdoc_docname =%s and q.status = 'Lost'""", self.name)
+
 	def validate_cust_name(self):
 		if self.customer:
 			self.customer_name = frappe.db.get_value("Customer", self.customer, "customer_name")
diff --git a/erpnext/selling/doctype/quotation/quotation.py b/erpnext/selling/doctype/quotation/quotation.py
index 6ed1888..9840e8e 100644
--- a/erpnext/selling/doctype/quotation/quotation.py
+++ b/erpnext/selling/doctype/quotation/quotation.py
@@ -13,9 +13,14 @@
 }
 
 class Quotation(SellingController):
+	def after_insert(self):
+		self.update_lead()
+
 	def validate(self):
 		super(Quotation, self).validate()
 		self.set_status()
+		self.update_opportunity()
+		self.update_lead()
 		self.validate_order_type()
 		self.validate_uom_is_integer("stock_uom", "qty")
 		self.validate_quotation_to()
@@ -35,6 +40,10 @@
 		elif self.lead:
 			self.quotation_to = "Lead"
 
+	def update_lead(self):
+		if self.lead:
+			frappe.get_doc("Lead", self.lead).set_status(update=True)
+
 	def update_opportunity(self):
 		for opportunity in list(set([d.prevdoc_docname for d in self.get("items")])):
 			if opportunity:
@@ -45,6 +54,8 @@
 			frappe.db.set(self, 'status', 'Lost')
 			frappe.db.set(self, 'order_lost_reason', arg)
 			self.update_opportunity()
+			self.update_lead()
+
 		else:
 			frappe.throw(_("Cannot set as Lost as Sales Order is made."))