All billing should be done through Hubspot. Hubspot offers a few different ways to charge or invoice a customer. Especially through 2024, we will be using a range of strategies to accommodate the different customer agreements we have. As of Jan 1, 2025, things will be more standardized, and we may eliminate this guide.

New Clients

• New clients must begin with either a New Build or a Tune Up.
• They should receive a Quote from their future strategist which serves as their contract.
  • This should include basic MSA-style terms in addition to an SOW-style description of the services to be provided. We have not yet done this for a net-new client yet so the specific wording is TBD.
• The Quote should include an invoicing schedule. If the quote is configured to ask for some payment upfront, the client will be able to make that payment via the Quote itself, and will not require a separate invoice.
• For any payments scheduled beyond the first, after the Quote is accepted, Hubspot will generate draft invoices for those payments. The PM must manually finalize and send those to the client after the relevant milestones are reached within the project.

Existing Client: Entering Core Coverage

• After a New Build or Tune-Up most clients will start Core Coverage.
• The strategist should negotiate the terms of Core Coverage directly with the client. Once the client is agreed on the services and monthly cost, the Strategist should send a Quote for Core Coverage for the intended term.
• The Core Coverage quote should include:
  • A recurring fee scheduled to be charged every month on the 1st of the month for services within that month
  • If Core Coverage is to start in the middle of a month, a one-time separate line item for the pro-rated fee for the partial month
• For us to start, the client has to sign the quote, and add payment information.
  • If there is a pro-rated partial month fee in the quote, this will be paid immediately
  • On the next 1st of the month, the client will be charged for their Core Coverage service
  • If the client does not complete the quote until after the first full month begins, Hubspot will charge them for the first month at the time they add payment information.
    • Ex: We want to start core coverage on Nov 1 and send a quote in october. however, the client does not actually sign the quote and add payment info until Nov 7. On Nov 7, they will get charged retrospectively for November, and then will get charged again on Dec 1.
• Some clients may not want to pay via Hubspot. We allow this if the client is on the “Standard” core coverage tier or above. They still must make payment (i.e. money hits our bank account) on or before the first of each month for services within that month.
  • In this case, they can sign the quote to confirm the agreement, but do not need to add payment information. Instead, the PM should set up a recurring invoice that is sent to the client on the first of the prior month, at Net 30.
    • Ex: A client is on Standard Core Coverage and does not want to pay via Hubspot. Their start date is Nov 1. They would sign their quote, and then we would manually send them the invoice for their Core Coverage fee for the first month, which must be paid in order to commence service. We also set up an automated invoice for Core Coverage that should go out on Nov 1 to pay for December service. This invoice should be at Net 30. If the client does not pay that invoice by Dec 1, we have the right to suspend service. In reality, we should provide a grace period of up to 15 days. After 15 days, we should stop any non-essential service until the client is current.

Existing Client with Core Coverage

Our existing Core Coverage agreements have a few different models for how we are meant to invoice. All of them state that we invoice for Core Coverage at the end of each month for service in the prior month. Before Oct 1:

• Ops & Ty will create recurring invoices for all of our Core Coverage agreements that will go out automatically on Oct 1, Nov 1, and Dec 1. PMs do not need to invoice for Core Coverage anymore.
• For in-progress Planned Projects or legacy hourly agreements, PMs should make invoices manually throughout Q4.

Planned Projects

For all new Planned Projects, we should send a Quote through Hubspot as our formal presentation of the project to the client for approval. The Quote should include a brief summary of the project, a link to the full project plan, and the fee structure. Almost all Planned Projects should require some upfront payment, and then have other payments linked to launch or other milestones.

When the client signs the quote and adds payment information, Hubspot should charge them for the upfront payment and then create invoices representing all future payments. The PM is responsible for sending those out when the relevant milestone has been reached.

Core Coverage Transitions