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SJeremias
Top Contributor

Partial Cancelled Deals

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hope this is the correct place to post..

We are looking for ways to record when deals are cancelled (after closed won and partially paid/fuliflled).  so if a deal is already moved to closed won, and say halfway thru their contract (deal) the client wishes to cancel.  what would be the best way to record the "loss" now on that contract? i would need to setup for reporting purposes afterwards.  I realize that new properties will have to be created to be used i.e. TCV Loss?  TCV Loss Date?  TCV Loss Reason?  just wanting to get some ideas as to what others are doing.  TIA

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1 Accepted solution
himanshurauthan
Solution
Thought Leader | Elite Partner
Thought Leader | Elite Partner

Partial Cancelled Deals

SOLVE

Hi @SJeremias

 

To record and report on partially cancelled deals effectively, you can follow these steps:

  1. Create Custom Fields:

    • TCV Loss Amount: To capture the amount lost due to cancellation.
    • TCV Loss Date: To record the date of cancellation.
    • TCV Loss Reason: To document the reason for the cancellation.
  2. Adjust Deal Status:

    • Update the deal status to reflect the partial cancellation (e.g., "Partially Cancelled").
  3. Record Adjustments:

    • Adjust the Total Contract Value (TCV) to reflect the loss.
    • Update payment and fulfillment details as needed.
  4. Reporting:

    • Create reports to track TCV Loss Amount, Loss Date, and Loss Reason.
    • Use these custom fields in your reporting tools to analyze cancellation trends and financial impacts.

These steps should help you accurately capture and report on partially cancelled deals.

 

Best regards!

Digital Marketing & Inbound Expert In Growth Hacking Technology

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2 Replies 2
himanshurauthan
Solution
Thought Leader | Elite Partner
Thought Leader | Elite Partner

Partial Cancelled Deals

SOLVE

Hi @SJeremias

 

To record and report on partially cancelled deals effectively, you can follow these steps:

  1. Create Custom Fields:

    • TCV Loss Amount: To capture the amount lost due to cancellation.
    • TCV Loss Date: To record the date of cancellation.
    • TCV Loss Reason: To document the reason for the cancellation.
  2. Adjust Deal Status:

    • Update the deal status to reflect the partial cancellation (e.g., "Partially Cancelled").
  3. Record Adjustments:

    • Adjust the Total Contract Value (TCV) to reflect the loss.
    • Update payment and fulfillment details as needed.
  4. Reporting:

    • Create reports to track TCV Loss Amount, Loss Date, and Loss Reason.
    • Use these custom fields in your reporting tools to analyze cancellation trends and financial impacts.

These steps should help you accurately capture and report on partially cancelled deals.

 

Best regards!

Digital Marketing & Inbound Expert In Growth Hacking Technology
0 Upvotes
KhushbooRevOps
Participant

Partial Cancelled Deals

SOLVE

Hi @SJeremias,

To track partially canceled deals after "Closed Won", do this -

1. Create custom properties,

TCV Loss: Record the lost value.
TCV Loss Date: Capture the cancellation date.
TCV Loss Reason: Document the reason.

2. Update the deal,

Manually update these properties when a partial cancellation occurs.

3. Set up reporting,

Use these properties to track and report on partial cancellations.

This approach keeps everything organized and easy to report on.

I hope it helps, let me know if you need to talk!

Khushboo Pokhriyal

Growth & Operations

GroRapid Labs

LinkedIn | 9315044754 | Email | Website

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