Revenue recognition in Microsoft Dynamics 365 Finance and Operations – Part 1

November 18 2019

Microsoft recently released a Revenue Recognition module as part of 2019 Wave 2 release. We have started to review the functionality in detail. In part 1 of this revenue recognition series, we will review details on how to enable this module in Dynamics 365 Finance and Operations.

Pre-Requisites

Minimum version required – 10.0.5. If you are on an older version, consider upgrading to this or latest version.

How to enable Revenue recognition

Microsoft has started releasing new features via the Feature Management workspace.  However there is one exception: the Revenue Recognition module. The module currently is enabled using configuration keys because a lot of work was already done on the module prior to release of the Feature Management functionality.

To enable the configuration key, go to the home page and use Advanced Search. Type “license configuration” and click on the “License Configuration” option.

license_configuration_search

The form opens but it is in read-only mode (See screenshot below).

license_configuration_controls

Turn on Maintenance mode

About Satish Panwar

Satish works as a Senior Architect at Hitachi Solutions America and has more than 14 years of experience implementing different versions of Microsoft Dynamics AX. He holds numerous certifications and hold bachelor’s degree in Information technology.

More about Satish Panwar

Comments

aaahsan.1's picture

Hi - how to load the demo data once the module is enabled ? i am using USMF legal entity and there is no demo data.


satish.panwar's picture

Hi Muhammad,
The demo data that we see in USMF company is generic. Every environment that loads up demo data will have customers, items etc. You have options to either pick up same data or you can create new data and then use Revenue Recognition on top of it. An example - To use the item for RR, you just need to setup few data points on Revenue recognition tab on Released products. The setups (e.g. Revenue schedule, GL account setup) are required, which i covered in part of 2 of my series (only deferred revenue to get started).