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Subscription billing enables organizations to manage subscription revenue opportunities and recurring billing through billing schedules. You can easily manage complex pricing and billing models and revenue allocation. The system bills and recognizes revenue at the line level. Multi-element revenue allocation enables allocation of revenue to comply with International Accounting Standards (International Financial Reporting Standard 15 [IFRS 15]) and Generally Accepted Accounting Principles (US GAAP) standards (Accounting Standards Codification Topic 606 [ASC 606]).
The solution has three modules that you can use independently. Alternatively, you can use all three modules together.
- Recurring contract billing – This module enables recurring billing and price management to provide control over pricing and billing parameters, contract renewal, and consolidated invoicing.
- Revenue and expense deferrals – This module eliminates manual processes and dependency on external systems by managing revenue and enabling real-time insight into monthly recurring revenue.
- Multiple element revenue allocation – This module helps with revenue compliance by handling pricing and revenue allocation across multiple items.
For more information about subscription billing, see Subscription billing Power BI content.
Note
Enable subscription billing through Feature management. However, you can't use it with the Revenue recognition feature. You must disable that feature before you enable subscription billing.
In the Feature management workspace, on the All tab, enter Revenue recognition in the filter, and then select the feature name as the filter.
Select the Revenue recognition feature, and then select Disable.
In Feature name filter, enter Subscription billing, and then select the module filter.
Select the Subscription billing feature, and then select Enable.
Select one of the three modules from the previous list, and then select Enable. Repeat this step for each of the other two modules.
Important
You must enable the Subscription billing feature before you can enable any of the three modules.