BetaCreate a renewal quote on a contract

The contracts object in HubSpot is a centralized source of truth for committed revenue. Use a renewal quote as a customer nears the end of their current contract. Configure renewal management in the contract settings. When a renewal quote is accepted, a new contract is created and automatically associated with the previous contract.

To get started, learn more about how contracts are used, and how to create contracts.

Before you get started

• If you're a Super Admin, you can opt your account into the HubSpot Contracts with Commerce Hub beta.
• It isn't possible to enroll in the beta if you're using HubSpot payments or Stripe as a payment processing option.

Create a renewal quote

Create a renewal quote on an existing contract. Renewal quotes must be associated with a deal. You can create a deal during the renewal quote process or manually associate an existing deal. It's recommended to create a dedicated renewal pipeline for renewal deals, and to create a new deal for the renewal quote. This means you can report on new business revenue vs renewal revenue.

If a change quote was applied during the contract term, the renewal quote will include those updates automatically. For example, if a customer started with 10 licenses and later added 10 more through a change quote, the renewal quote will include 20 licenses.

To create a renewal quote:

1. In your HubSpot account, navigate to Commerce > Contracts.
2. Click the name of the contract.
3. In the upper right of the left sidebar, click Actions, then select Create renewal quote.
4. In the right panel:
   
   • If the Automatically create new deals for renewal quotes setting is turned on, click the Deal pipeline dropdown menu and select a pipeline. Then, click the Deal stage dropdown menu and select a deal stage.
   • If the Automatically create new deals for renewal quotes setting is turned off, click the Associate with a deal dropdown menu and select a deal, or click Create a new deal to create a new deal.
5. Click the Select a quote template dropdown menu and select a quote template. Learn more about setting up quote templates.
6. In the Change effective date field, click the date picker and select the date the change will take effect.
7. If the Allow users to override the default proration setting is turned on, clear the Prorate charges and credits for the remaining billing period to not prorate charges. If the checkbox is selected, charges will be prorated.
8. Click Create quote.
9. You’ll be directed to the quote editor. The details of the seller and buyer will automatically be added from the contract information.
10. Build the quote.
11. To edit the summary, including the Change effective date, click the Summary section in the quote editor. 
12. In the left sidebar editor, under Change effective date:
13. Click the Effective dropdown menu and select an option:
    1. On agreement: the default setting. This is the date the quote moves to Accepted, either through e-signature, click-to-accept agreement, or by a HubSpot user marking the quote as signed.
    2. Custom Date: a custom date. You can set a quote’s Effective date to a past date. When using a past date, the Expiration date will be treated as the buyer’s sign-by deadline. This means the buyer can still sign any time up to the expiration date, even if the Effective date is in the past. After selecting this option, click the date picker and select the date renewal will take effect.
    3. Delayed start (days): delay the billing start date by a number of days after checkout. After selecting this option, enter a number into the field.
    4. Delayed start (months): delay the billing start date by a number of months after checkout. After selecting this option, enter a number into the field.
14. In the Label field, edit the label displayed above the effective date.
15. In the left sidebar editor, under Term length:
    • In the Label field, edit the label displayed above the term length.
    • Toggle the Term length switch off to hide it.

16. In the left sidebar editor, under Total discount:
    • Click the Format dropdown menu and select an option:
      • Show as amount: show the discount amount in the quote currency.
      • Show as percentage: show the discount as a percentage.
      • Show as percentage and amount: show the discount as a percentage and as an amount in the quote currency.
      • In the Label field, edit the label displayed above the total discount.
      • Toggle the Total discount switch off to hide it.
17. In the left sidebar, under Total contract value:
    • In the Label field, edit the label displayed above the total contract value.
    • Toggle the Total contract value switch off to hide it. Total contract value won’t be displayed if any of the line items have an indefinite billing term. Adjust the billing term of the line item to display the total contract value.
18. The updated total, including any additional tax, will display below the line items.
    
    
    
19. To share the renewal quote, click Share in the upper right.
20. Once the buyer has accepted the renewal quote, a new renewal contract will be created and will be associated with the existing quote. To view the renewal contract:
    • In your HubSpot account, navigate to Commerce > Contracts.
    • Locate and click the name of the renewal contract. Or, click the name of the existing contract. Then, in the right sidebar, navigate to the Contracts card to view the renewal contract. The renewal contract will also be displayed on the Activities and History tabs.

Create a renewal quote using a workflow

You can create a renewal quote using a workflow action in a deal-based workflow. To create a renewal quote using a deal workflow:

1. In your HubSpot account, navigate to Automation > Workflows.
2. Create a workflow, or click on an existing workflow to edit it.
3. Set your enrollment triggers.
4. Click + below your trigger.
5. In the left panel, click to expand the CRM section.
6. Select Create renewal quote from contract.
7. Click the Contract dropdown menu and select a recommended option or Contracts: all associated.
8. Click the Template dropdown menu and select a quote template.
9. Click the Deal selection method dropdown menu and choose an option:
   • New deal using default pipeline/stage: creates a new deal in the default stage of the selected pipeline.
   • Existing deal: to select a different deal, after selecting this option, click the Deal dropdown menu and select a deal.
10. In the upper right, click Save.
11. Click Review and turn on in the top right to turn on the workflow.