Recurring deals with upfront/implementation fee

[Kraytoes]

Hello All,

New to the Hubspot community so apologies if this has been asked in some form or another.

I work for a SaaS company and have been tasked with building up our CRM system with Hubspot. Our product is sold on a recurring revenue basis, meaning we charge the client/customer a fixed fee on a monthly basis for 2-3 years (depending on length of contract). However, we also charge the client a one-off integration/implmentation fee that we invoice them at the beginning.

My question is: is there a field/property in Hubspot where I can place is one-off fee? So far I only see Amount (full contract value, I'm assuming) and Monthly recurring revenue. 

Any advice would be much appreciated!

Thanks

[Phil_Vallender · Accepted solution]

Hi @Kraytoes 

I think you will get the best results tracking implementation as a separate, fixed amount deal. Recurring revenue deals don't support an additional fee field, and you are really doing two types of deal anyway. 

Hope this helps.

[Innobo]

You can add a line product and from the line product select the recurrence. 

If it does not update the amount field try creating a quote, making sure each line has the right recurrence and see how it goes.

It worked for me cuz I wanted to see the MRR only, not the whole contract amount.

[Phil_Vallender · Accepted solution]

Hi @Kraytoes 

I think you will get the best results tracking implementation as a separate, fixed amount deal. Recurring revenue deals don't support an additional fee field, and you are really doing two types of deal anyway. 

Hope this helps.

[Kraytoes · Accepted solution]

Hi Phil,

Thanks for the response. Yes you are right, I think I will need to include an extra field. I found a decent Hubspot knowledge base that shows how you can add a "product" and allocate it one-off charge. Clumping this together with the monthly recurring revenue product, and factoring in the contract period (aka end date of MRR), we should be able to get the FCV.

https://knowledge.hubspot.com/articles/kcs_article/contacts/how-do-i-use-products

Thanks!

[charliepinker]

Hi @KR how did you get on with reporting on this? I'm aware you can add products with both MRR and one-time revenue into a single deal, but I'm not sure how you can report on just the MRR element, in, for example, a revenue report. Because the deal "Amount" field gets updated with "first month MRR" + "one time fee", I'm not sure how to report on just the MRR element.

[lwilkie]

I had to create a calculated feild. Non Recurring Revenue calculated feild

Total Deal - MRR = NRR (with a rule that says eliminate if negative result) in the event user forgets to input Amount)

[ALEasterly]

I am using this process to get reporting, but it is definitely work getting all our deals updated to this format.

https://knowledge.hubspot.com/deals/track-recurring-revenue-with-revenue-analytics

[charliepinker]

@ALEasterly Ah I see.... we don't have Enterprise so don't have native recurring revenue functionality. Because the product I work on is 99% MRR (only a small bit of setup fee on occassion), I've settled on using the Amount field for the MRR figure, as this is the only field that plays nicely with multiple currencies. My revenue reports therefore show the local currency MRR for all deals, and I can see the customer's currency and amount they pay in the deal itself. I just have a separate field for one time revenue which is a 'dumb' field.

[Phil_Vallender]

Awesome @Kraytoes - your solution is even better than mine! I hadn't thought about using multiple products on one deal.