Hubspot

The HubSpot integration will allow you to automate the process of accounting from a Closed Won deal to create invoices and revenue recognition in Rillet. By connecting Rillet with HubSpot, you are able to sync Companies, Products and Deals in HubSpot to automatically create Customers, Products and Contracts in Rillet.

Connect HubSpot to Rillet

There are two ways to access the HubSpot integration:

1. Launchpad: Access the HubSpot integration through the Browse Integration section from the Launchpad.

   
2. Organization Settings:

   1. Click your company logo in the lower-left corner of the screen.

   2. Go to Organization Settings > Integrations.

   
3. Under CRM, select HubSpot > Not Connected.

   
4. Click Connect to begin the integration process.

   
5. Complete the normal flow to connect your HubSpot instance.

   
6. Enter the Required Information for Synchronization Settings:

   

   1. Sync Data from: Specify the date you want to start syncing deals. All deals with a close date on or after this date will be synced automatically into Rillet.

   2. Revenue Account: The default revenue account for all new products synced from HubSpot. You can change this on individual products.

   3. Default Product for imported deals: Select a product that will be the default if you do not use deal line items. This product is just a fallback for deals without line items.

   4. Custom Hubspot field name for deal start date (Optional but recommended): The start date of the contract term. This is typically a custom field on HubSpot deals.

      1. This can be found within "Deal properties" (example below)

   5. Custom Hubspot field name for deal end date (Optional but recommended): The end date of the contract term. This is typically a custom field on HubSpot deals.

      1. This can be found within "Deal properties" (example below)

1. Click Save to complete the integration setup.

Syncing HubSpot Customers, Products and Deals

• HubSpot Companies = Rillet Customers

• HubSpot Products = Rillet Products

• HubSpot Deals = Rillet Contracts

• HubSpot Line Items = Rillet Contract Line Items

Customers and Products will only be created in Rillet when they are associated to a Closed Won deal. HubSpot deals will automatically sync into Rillet once they have a status of Closed Won. Newly synced deals can be view in one of two places:

1. Contracts to be reviewed on the Launchpad

1. The Contracts List

   

All deals will create a contract with a status of Pending Approval. Pending Approval Contracts do not have any impact on the financial statements or metrics. To have an impact on the financials, you must approve the contract.

Approving a Contract from HubSpot & Creating Invoices

Once a new contract has synced in from HubSpot, select the contract from the Pending Approval Contract Listing that you would like to approve.

After selecting the contract, you will be taken through a step by step contract workflow to review the details synced in from HubSpot:

• General Details - including Deal Name, Closed Date, Start Date, End Date

• Products - line items from HubSpot deals will create the contract line items. You can add more products or edit the existing products during this workflow

• Invoicing - review the invoice schedule and payment terms. You can make any changes needed in this step.

• Revenue - review the automated revenue schedules and make updates as needed.

To complete the contract review, Click Confirm at the end of the contract works. This will create the contract journal entries, invoices and metric impacts.

For more information on Contracts, check out our Articles on Contracts.

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