HubSpot Ideas

matheusjiran

Amount in company currency at the Product level

It would be very useful to have an automatically calculated property ate the Product level that converts the Product Amount (or Total Contract Value) to the company currency. Just like there is the 'Amount in company currency' at the Deal level. 
When using cross reports with Deals & Products, we cannot use the 'Amount in company currency' because it get duplicated for each Product in the Deal. And properties at the Product level like 'Total Contract Value' are in different currencies. So if my report is displaying the 'Total Contract Value' of a multi currency base it will show:

US$ 1,000.00 + R$ 1,000.00 = $ 2,000.00

For now I have one report for each currency and that's something I want to avoid in the future.

9 Replies
JustinEverett
Participant

I also agree that this is a big problem with Hubspot. Being able to report rolled-up numbers at the company currency from the line item level is something my executive team is constantly asking me for and I always have to calculate it manually for them. With Salesforce, all currency fields can be reported as a "Converted" value which shows that value at the company currency.

JoeDavies
Top Contributor | Elite Partner

This is a real problem with the teams I work with too, as we cannot report on differing line item type (software vs services) totals across different currencies, and not to mention the lack of automatic currencies!

Given this is a long existing, built in feature for Deal objects, I'd have thought it would be relatively easy to roll out to line items too?

TSabad
Member

It's very surprising that this doesn't exist out of the box in Hubspot. Has anyone figured out a workaround solution? I figure i might be able to do it with 8-10 custom calculaiton properties, but I am limited to 5 of those properties at the moment. Hoping someone has figured out a simplified solution that I haven't considered yet.

matheusjiran
Contributor | Diamond Partner

[UPDATE]

 

We managed to work around this with custom integration. A webhook triggers the integration, sent via HubSpot Workflows, whenever a Deal's "Amount" or "Total Contract Value" (property based on line items TCV) is updated. 
* If you have the Operations Hub, you could do this using Custom Codes within the workflow, without sending webhooks.

 

The custom integration:

1. List Line Items IDs associated with the Deal

2. Read Line Items properties 

3. Calculate the Line Item's "TCV in company currency" based on the Line Item's TCV and conversion rates established in the integration code

4. Update each Line Item's with it's amount in company currency in the property "TCV in company currency"

The conversion rates are exactly the same as the rate set up in HubSpot Currency settings. This has been working well and matching the Deal's "Amount in company currency". 

TobiasBojesen
Participant

Hi @matheusjiran 

This sounds interesting! What would that code look like?

K_S
Participant

Hi @matheusjiran would love to see example of how that works in Ops Hub!

K_S
Participant

Hi @TobiasBojesen @matheusjiran and everybody else,

I think I finally managed to find a solution to this using calculated properties. FYI I work in a small SaaS company with less than 20 products and have Sales Hub Enterprise.

 

This is what I did:

  1. Product Type
    1. Go to the Product property "Product Type" and entered some additional values for each of my products e.g. "Consultancy", "Standard", "Enterprise" (If you have a LOT of products then I suggest you group in similar product types e.g. Subscriptions, OTF products, etc. otherwise this solution might not be for you)
    2. I updated each product with the relevant Product Type.
  2. Calculated property - local currency (LC)
    1. Create a new calculated property on Deal e.g. "Consultancy LC"
    2. Calculated property type: Sum
    3. Associated record type: Line item
    4. Associated record property: Annual Contract Value  (this one works for me as SaaS company with both Saas and OTF products but you can adapt to your needs)
    5. Create condition: Product Type = "Consultancy"
    6. You will need to repeat this for each of the products or group of products you want to track/convert.
  3. Calculated property - company currency (CC)
    1. Create a new calculated property on Deal e.g. "Consultancy CC" or "Consultancy EUR" or whatever name makes sense for you.
    2. Calculated property type: Custom equation
    3. Calculation should be the property "Consultancy LC" * Exhange rate (this is a standard property on the deal object)
    4. You will need to repeat this for each of the products or group of products you want to track/convert.

I hope this can be useful for you.

Kim

The only disadvantage I see of this solution is that you will need a lot of calculated properties (hope that you have Enterprise in at least one Hub) and its a cumbersome solution if you have lot of products.

This works for new line items you create. You would need to update any existing line items since these won't have the "product type" populated

 

SSegundo
Participant | Elite Partner

Yes products needs this ASAP

Steve0
Participant

I just came across this issue today - it should undoubtedly be a standard feature. My workaround is to have a calculated field in a line item report

[LINE_ITEM.hs_arr] * [DEAL.hs_exchange_rate] - though this does not format for company currency