How do you handle the opportunity value for a subscription? If we have 3 months of recurring for a $499 product and we close the deal then the opportunity value would be $499 for that month? or we create automation and increase the value each time just to get the exact figure of revenue each month on dashboard?
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The original post is asking for guidance on how to accurately handle the opportunity value for a subscription in GoHighLevel CRM software. The user explains that they have a $499 product with a 3-month recurring subscription, and they are unsure how to track the revenue correctly.
They question whether the opportunity value should be set as $499 per month for the duration of the subscription or if there is a way to automate the calculation to get an exact figure of revenue each month on the dashboard.
In response to this, it is important to note that GoHighLevel offers various automation and customization options to handle opportunity values effectively. The user can create automation rules to increase the value over time, reflecting the revenue generated each month.
However, it is recommended for the user to explore GoHighLevel's tutorials, support documents, or the comments section below the post for more specific insights and updates on this topic. These resources can provide detailed instructions or tips from other users who have faced a similar situation.
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This question plagues nearly every CRM I’ve ever seen. It’s also an accounting question in terms of when you want to recognize the revenue. It could effect commissions as well… I’ve never seen any CRM do this well. Just pick one method and stick to it. There is no wrong answer.
I just update my spreadsheet weekly or view my stripe dashboard.
I use my own google sheets template because I can calculate churn, anticipated projected revenue, throw my costs in and do some “what if”
CRMs are not accounting software
Record the value of that opportunity by sales price or average retention x’s monthly fee
I would mark it as $1,500 if 3 month @ 499 is what you’re billing.
You can estimate LTV for a year or so as well.
You could setup an automation to update the value later on with a form too