2024 Commerce Hub in review

Revenue Hub Commerce Product Updates
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2024 was a big year for Commerce Hub. We added a lot of functionality and made some highly requested improvements, and the best news is that we are just getting started! We introduced over 35 product updates, just to the Commerce tools alone. See below for a recap of the updates and get excited for all that will come in 2025.

INVOICES:

Invoices make getting paid even easier. In 2024 we introduced new functionality to our invoicing tool to cut the time it takes to request payment from your buyers, automate follow-up on overdue payments, automatically send recurring invoices, and added new ways to customize your invoices. With HubSpot invoices, you can build a billing process both you and your customers will love. See all of the invoice updates we made in 2024 and start taking advantage today.

  • Record payments manually on invoices: Not every invoice is paid online, in fact 40% of all B2B transactions are still done by paper check. With this update you can track those offline payments on your invoices to ensure a consistent AR process.

  • Default comments on invoices: You can now include comments to your buyer that appear on every invoice

  • Add recurring products to invoices as one-time line items: You can now add recurring products from your product library to invoices giving you more flexibility when building invoices.

  • Multiple tax IDs on invoices: More than one tax ID can be added to invoices to ensure you can communicate the necessary information to your buyers

  • Partial payments on invoices: Not every invoice is paid in full or with a single payment method. This update allows your customer to pay an amount less than the balance due.

  • Edit open invoices: With this update you are now able to make any changes needed to an open invoice before payment is received.

  • Custom invoice fields: You can choose up to 4 additional custom fields to display on invoices giving yoy more flexibility and control in configuring the content of your invoices to suit the nature of your business.

  • Set default email to send invoices from: Have control over which email your invoices are coming from. This can be a team or personal email address

  • Option to customize the invoice title or remove notice about invoice currency and sales tax: You can now modify the title of the invoice document and also remove the invoice currency and sales tax notice.

  • Attach PDFs to email: Previously, emails automatically sent from the HubSpot invoice tool would include a link to view the invoice online. Now, these emails also include an attached PDF of the invoice document.

  • Accounts receivable reporting dashboard: You can now easily report on your invoices with our new out-of-the-box accounts receivable dashboard.

  • Delete unpaid invoices: If you make a mistake or are simply testing the invoice functionality, you can now delete any unpaid invoices.

  • Include shipping address on invoices: We are giving you more flexibility to customize your invoices by adding shipping addresses on your invoices to streamline your billing and delivery process.

  • Automated email reminders: You can now set up email reminders for customers with unpaid invoices, ensuring timely payments and reducing the need for manual follow-ups.

  • Recurring Invoices/Billing for Subscriptions: Start recurring billing quickly and easily by sending recurring invoices to customers on their billing date so you get paid on time, every time.

  • Use invoices without collecting payments/before applying to Commerce Hub: You can use HubSpot for your invoicing needs, and get all your revenue data into HubSpot, prior to being ready to use HubSpot for collecting payments.

PAYMENTS:

In 2024 we took payment processing international. We opened up to 19 new currencies as well as local payment methods for bank payments. We made it easier to get paid while giving you transparency into your money.

QUOTES:

We made getting paid from quotes fit your business model better with adding payment schedules. Keep your eyes peeled for a lot more CPQ updates to come in 2025 :eyes:

  • Payment schedules on quotes: You now have the ability to break up your billing on a quote into a payment schedule. This can be used for situations like taking an initial deposit, setting up milestone payments for a project, or allow a customer to be on a payment plan.

ACCOUNTING INTEGRATIONS:

In 2024 we released our updated QuickBooks Online (QBO) integration, which included our two-way invoice sync. This allows you to seamlessly connect HubSpot with your accounting system to streamline your accounts receivable process. More accounting integrations to come in 2025 :eyes:. See below for the various improvements to the QBO integration.

TAXES:

Taxes are essential to running a business, but keeping up with the ever changing rules and rates is incredibly difficult and time-consuming. In 2024 we made managing taxes in HubSpot even easier.

  • Apply Taxes on Line Items: You now have the ability to create, organize, and apply tax rates on individual line items across all tools such as Quotes, Deals, Payment links, Invoices, and Subscriptions. Create a tax rate library to be able to apply taxes with ease.

  • PUBLIC BETA Automated sales tax collection on invoices with Commerce Hub: Keeping track of ever-changing tax rules and rates is incredibly difficult. With automated sales tax, Commerce Hub users can shift the burden of tax compliance to HubSpot so you can focus on selling instead of calculating tax.

API and DEVELOPMENT:

Being able to connect your Commerce data with your systems is critical for a seamless process and great customer experience. This year we made this easier with our development of Commerce object APIs.

  • Commerce Objects Read API: This API provides programmatic access to core Commerce Hub data objects, including Invoices, Subscriptions, and Payments, to seamlessly query and retrieve data from key Commerce Hub objects.

It was a big year for Commerce Hub. Thanks for joining us on the journey and we cannot wait to continue delivering updates in 2025.