Invoice Object Profile
Transforming commercial agreements into structured financial documents for proper revenue collection and tracking.
Object Purpose
The Invoice Object
The Invoice object represents the formal billing document between your organization and a customer. It transforms commercial agreements and delivery milestones into structured financial documents that enable proper revenue collection and tracking.
Professional Accountant of CRM
Think of it as the professional accountant of your CRM - ensuring every billable item is properly documented, communicated, and collected while maintaining clean financial records.
Value Creation Role
Converting commercial agreements into billing documents
Enabling structured revenue collection
Supporting complex billing terms
Creating accountability for collections
Bridging delivery to payment
Maintaining clean financial records
Natural Birth of an Invoice
1
Order completion
2
Delivery milestones
3
Service completion
4
Subscription periods
5
Progress billing
6
Contract terms
Invoice Growth
Payment tracking
The invoice object grows richer through continuous payment tracking, ensuring accurate financial records.
Status updates
Regular status updates contribute to the invoice's growth, providing real-time information on its progress.
Collections management
Effective collections management enhances the invoice's value and ensures timely payments.
Document generation
The ability to generate relevant documents adds depth to the invoice object.
System synchronization
Synchronization with other systems enriches the invoice with comprehensive data.
Success confirmation
Confirming the success of the invoice process marks its full maturation.
Growth and Evolution Stages
1
1. Creation Stage
- Basic invoice details
- Line item definition
- Terms application
- Initial validation
2
2. Review Stage
- Amount verification
- Term confirmation
- Document generation
- Approval routing
3
3. Active Stage
- Payment tracking
- Collections management
- Status updates
- Communication flow
4
4. Completion Stage
- Payment reconciliation
- Document filing
- History recording
- Success verification
Value Relationships
Order Records
- Links to original sale
- Maintains configuration
- Tracks fulfillment
- Enables reporting
Payment Records
- Tracks collections
- Manages balance
- Records history
- Supports reconciliation
Contact/Company Records
- Identifies bill-to entities
- Manages relationships
- Tracks history
- Supports communication
Core Properties: Invoice Management
Title/Number
Unique identifier for each invoice
Status
Current state of the invoice (e.g., draft, sent, paid)
Source System
Origin of the invoice data
Invoice Date
Date the invoice was issued
Due Date
Date by which payment is expected
PO Number
Associated purchase order number, if applicable
Core Properties: Financial Management
1
Amount Billed
The total monetary value charged to the customer, including all items, taxes, and additional fees
2
Amount Paid
The sum of all completed payments successfully received and cleared from the customer to date
3
Amount Processing
Funds currently in the payment processing pipeline, including pending credit card authorizations and in-transit bank transfers
4
Balance Due
The outstanding amount still owed by the customer, calculated as Amount Billed minus Amount Paid and Amount Processing
5
Payment Terms
The agreed-upon payment conditions, including due dates, early payment discounts, and late payment penalties
6
Currency Details
Specification of the transaction currency, including exchange rates and conversion dates where applicable
Core Properties: Recipient Information
Billing Entity
The company or individual being billed
Contact Details
Name, email, and phone number of the billing contact
Address Information
Billing and shipping addresses
Tax Information
Tax ID, VAT number, or other relevant tax details
Special Instructions
Any specific billing or payment instructions
Communication Preferences
Preferred methods of receiving invoices and communications
Core Properties: Document Access
Invoice Link
Direct URL to view the invoice online
PDF Download
Option to download the invoice as a PDF
Portal Access
Login information for customer billing portal
Payment Options
Available methods for making payments
Supporting Documents
Access to related files and documentation
History Access
View of past invoices and payment history
Success Patterns
Collection Indicators
Strong invoices demonstrate:
- Clear documentation
- Prompt payment
- Complete records
- Clean reconciliation
- Clear communication
Value Multiplication
Invoices multiply value through:
- Process efficiency
- Payment acceleration
- Error reduction
- Customer satisfaction
- Financial accuracy
Common Friction Points
1
2
3
4
5
1
Data Management
2
System Integration
3
Term tracking
4
Balance calculation
5
Status updates
Other friction points include document generation and history maintenance for Data Management, and integration with accounting systems, payment platforms, document management, customer portals, and reporting tools for System Integration.
Growth Opportunities
Near-term Enhancement
- Automated generation
- Smart collections
- Better documentation
- Enhanced tracking
- Improved communication
Future Possibilities
- AI-powered forecasting
- Dynamic terms
- Predictive analytics
- Automated reconciliation
- Smart aging analysis
Document Information
Last Updated
December 13, 2024
Version
1.0
Status
Active
Owner
Finance Operations Team
Review Cycle
Quarterly
This object profile provides the foundation for implementing effective invoice management in HubSpot, enabling organizations to properly manage billing processes while maintaining clean data architecture and clear financial records.