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Work smarter and get more done with advanced tools that save you time. Discover QuickBooks Online Advanced.

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JustineEFI
Level 3

Can we start the revenue recognition schedule prior to the client invoice

Hello. We use QBO Advanced and are interested in using the Revenue Recognition Tool.  I can find a clear answer to the following: Can we start the revenue recognition schedule prior to the client invoice?

 

We have a few projects where we recognize the revenue as milestones are reached, but we don't invoice the client until later based on other factors. How would you suggest accomplishing this? Does the rev rec schedule have to be set up with an invoice? If so, can we date the invoice in the future and start the rev rec schedule now?

 

Thank you for any insight into this tool.

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