Turn on revenue recognition in QuickBooks Online

Learn how to turn on revenue recognition in QuickBooks Online Advanced.

Before you can set up a revenue recognition schedule, you need to turn on revenue recognition in your settings. If you don’t want to use any existing templates, you’ll also need to make your own.

Turn on revenue recognition

1. Go to Settings and select Account and settings (Take me there).
2. Select Sales. 
3. In Products and services, select Edit ✎.
4. Turn on Revenue recognition.
5. Select Save, then Done.

Create or manage custom revenue recognition templates

Instead of using pre-built templates, you can create custom templates to manage revenue recognition for invoices.

1. Go to Advanced accounting and select Revenue recognition (Take me there).
2. If this is your first time visiting this page, select Get started. Otherwise, select Manage settings dropdown, then Manage templates.
3. If none fits, select Add new template.
4. Enter a Name for this template, then select the Recognition method, Recognition frequency, and Recognition period (in months, quarters, or years).
5. When finished, select Save.

Post requisites

After you’ve turned on revenue recognition, you can set up a revenue recognition schedule for recurring services or product payments you issue to customers.

Related links

• Understand revenue recognition in QuickBooks Online
• Set up a revenue recognition schedule