topic Re: How Approach Multi-Year Deals in Dashboards & Reporting

How Approach Multi-Year Deals

KLA — Thu, 24 Aug 2017 18:24:13 GMT

Hi, I am trying to log a $50,000 deal which will be a multi-year contract. I will get paid about $20k the first year and then $10k/year for three more years. What is the best way to show this deal in my pipeline? Should I split up the amounts or is there a way to show the value over more than one year?

Re: How Approach Multi-Year Deals

roisinkirby — Fri, 25 Aug 2017 12:58:10 GMT

Hey @KLA welcome to the Community!

@SeanHenri @Anonymous @Trumeter @kcooper @Samantha_Alford do any of your teams and/or clients operate in the same way?

Re: How Approach Multi-Year Deals

Trumeter — Fri, 25 Aug 2017 14:10:59 GMT

We close similar deals -- assuming it is not an annual renewal, we record the sale at the time it was made. So if we sold a 3 year $50k deal (without optional renewal), we close the deal for $50k on the date of signing. As far as the recording the timing of the cash inflows, we leave that to our accounting solution. Now if we close a 3 year deal that must be renewed every year, then for us that deal then becomes 3 deals, and we break them up and close them when they are final. I have seen several of our customers seeking a monthly or annual renewal element to HubSpot deals, and do believe that there is some functionality that can be added there. Hope that helps!

Re: How Approach Multi-Year Deals

KLA — Sun, 27 Aug 2017 19:41:42 GMT

Thank you!!

Re: How Approach Multi-Year Deals

Samantha_Alford — Sat, 02 Sep 2017 03:26:16 GMT

Hey @roisinkirby and @KLA,

we (and our clients) pretty well do it the same way as @Trumeter. We also have issues with recurring payments for our membership site clients (and our own subscriptions too). It would be great for deals to be able to reflect both the total value of the deal, and the period in which that value is realised. But in reality I think I agree with @Trumeter that the deal's purpose is to recognise the total value of the deal itself, whereas it's the accountant's job to recognise when the income from the deal is earned.

Re: How Approach Multi-Year Deals

twmartin2 — Fri, 03 Jan 2020 15:17:31 GMT

Is there a way to duplicate deals in Hubspot so you can carry over the notes and not have to make your reps recreate three separate deals with all of the same information? Thanks in advance! - t.