You can now recognize revenue based on the milestone completion dates. Milestone based revenue recognition helps in tracking revenue based on project completion dates. To recognize revenue on a milestone basis, set Is Milestone as true in your Revenue Recognition Policy, 

Milestone based Revenue Recognition is supported only for Revenue Recognition Rule as Immediate.

Use Case: Recognizing Revenue based on Milestone

Suppose you are a finance administrator for a company selling computer hardware.  You have a one-year contract from  to  to ship 1000 laptops. On  , you have shipped 1000 laptops. You can set-up a milestone-based revenue policy to recognize revenue on .

Pre-requisites: A Revenue Recognition Policy with Revenue Recognition Rule as Immediate and Is Milestone as true. Create a Laptop product and attach your revenue recognition policy to it.

To recognize revenue based on Milestone:

  1. Accept the Quote/Proposal with the laptop product. 
  2. Activate the order and add Ready for Revenue Recognition date.
  3. Revenue Agreement with a milestone record is created. 
  4. Navigate to your milestone. Enter Milestone Expected Date as .
  5. Click Complete Milestone.

  6. Enter the Actual Date of the milestone completion as .

  7. Click Save. 

Result: 

Milestone Actual date is set as the Actual End Date of the Agreement Fee.

Next Step:

From the revenue console, click Generate Actuals to recognize revenue for your laptop product.