The most efficient way to obtain stand inventory data with terrestrial laser systems (TLS) is with the single-scan mode, which involves taking one scan at a single point. With a single-scan setup, there will be a nondetection of trees in a plot and the representation of the individual trees will be incomplete. We explore how stand-level volume estimates, based on the single-scan mode, perform compared with standard inventory estimates. We base our study on 166 plots in 12 mature stands dominated by Scots pine (Pinus sylvestris L.) and Norway spruce (Picea abies L. Karst) in southern Norway. First, we compare individual-tree volume estimates from TLS with estimates from volume functions and measurements from harvesters. We show that individual-tree volumes can be estimated with high precision and accuracy with TLS in single-scan mode. Secondly, we test three approaches for correction of nondetection relying on model-based estimates of the detection probability obtained by point transect sampling estimators. We show that all three approaches adjust for nondetection and yield stand-level volume estimates that are similar to those obtained by fixed-area sampling. In conclusion, our results indicate that stand-level volume estimates, based on single-scan mode TLS data, perform well compared with standard inventory estimates.