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IGruenbaum
Participant

Managing cancelled deals that bares cancellation fee

In my company we have deals that in case cancelled close to the due date, the client will have to pay cancellation fee that adds up to the revenue eventally and therefore I would like to see the total revenue in the reports.

Based on your experience, in case your company has such cases, how do you deal with that?

What I had in mind so far is to add a deal stage called cancelled where the probability will be the cancellation fee (in my case it is a percentage of the total deal).

Any other suggestions are welcomed.

0 Upvotes
3 Replies 3
IGruenbaum
Participant

Managing cancelled deals that bares cancellation fee

Thanks for verifying my idea. But then, how do you go about it in the case where we have different cacellation fees based on how much in advance the deal was cancelled. Meaning:
2 to 4 weeks: 25%, between 1 and 2 weeks: 50%, less than 1 week: 100% of the price.
In that case, how would you go about it besides creating a cancellation stage for each case with the corresponding percentage meaning:
cancellation 2-4 weeks with 25% probability
cancellation 1-2 weeks with 50% probability
etc…

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Dan1
Guide

Managing cancelled deals that bares cancellation fee

Hi @IGruenbaum ,

 

It's a really interesting question, I can see why you would still want to report on this given that it does still contribute to revenue. I'm afraid I have never had a requirement to handle cancellation fee's and I don't know of any other HubSpot users with this requirement either. I think I would do as you have suggested and create another deal stage. 

 

Sorry I can't be of more help. 

 

Kind regards,  

 

Dan Currin 

 

Co-Founder 

 

OrgChartHub 

GeoMapper 

 

OrgChartHub & GeoMapper named in the Top 30 HubSpot Apps 

Dan1_0-1638889450767.png

 

 

natsumimori
Community Manager
Community Manager

Managing cancelled deals that bares cancellation fee

Thank you for your post @IGruenbaum .

 

Hey @Dan1 , I'm wondering if you could weigh in here?