You should consult this article if your buildings are not located in the UK.
How it works:
The following process applies:
We will send you an email at the beginning of each month with a link to a Google Drive folder, where a monthly statement is saved.
You will receive a separate statement for each building
You need to send us an invoice to firstname.lastname@example.org for the total booking value on page 1 of the monthly statement PDF.
Please add any local VAT if applicable.
Please invoice each building separately if buildings are registered to separate billing entities or if they should be paid to different bank accounts.
Page 2 of the monthly statement PDF contains our commission invoice. Please record this in your accounting records.
Once we have received your invoice, we will net off our commission and pay the net amount to the bank details stipulated on your invoice.
Page 1 of the monthly statement will provide the following information:
The no. of day pass bookings x the day pass list price in your building's currency = total day pass booking value (i.e. your Revenue from day passes)
The no. of meeting room bookings x the meeting room list price in your building's currency = total meeting room booking value (i.e. your Revenue from meeting rooms)
The no. of private office bookings x the private office list price in your building's currency = total private office booking value (i.e. your Revenue from private offices)
It is very important to only invoice us for the total booking value on page 1. Please do not net off our commission on your invoice.
The following is a hypothetical example of bookings & how they are paid. You have 2 buildings listed on Hubble, Building 1 advertises co-working day passes at $50 and Building 2 advertises meeting rooms at $100. During the month of January, you receive 5 day pass bookings at Building 1 and 2 meeting room bookings at Building 2.
During the first week of the following month (February), you will receive an email from Hubble with a Google drive link, containing 2 monthly statements:
Building 1 - 5 day passes at $50 each i.e. total of $250 in "sales"
Building 2 - 2 meeting room bookings at $100 each i.e. total of $200 in "sales"
If Building 1 and Building 2 are registered to the same Billing Entity (e.g. limited company) then you can send us one invoice for $450 plus your local sales tax or VAT if applicable. If each building is registered to separate billing entities or need to be paid to separate bank accounts, then they should be invoiced separately. Invoices should be sent to email@example.com.
You will also find a commission invoice on the second page of the PDF. This is your expense and should be recorded in your accounting records. Commission rates are agreed during the onboarding process and are detailed in the sign-up form. If day passes are at 20% commission and meeting rooms at 10% commission, the invoice will be for:
Building 1 - 5 day passes at $50 each at 20% commission i.e. total of $50
Building 2 - 2 meeting room bookings at $100 each at 10% commission i.e. total of $20
Once we have received your invoice, we will process payment to the bank account detailed on your invoice, net of commission. In this example, payment would be:
Building 1 - $250 plus local VAT if applicable less $50
Building 2 - $200 plus local VAT if applicable less $20
In your bank reconciliation, you need to net off our commission invoice from your sales invoice so that it agrees to the payment amount in the bank. How this is done depends on your particular accounting software (e.g. you may need to use a suspense account or create a credit note - please consult your accountants).