Subscription billing overview
Subscription billing enables organizations to manage subscription revenue opportunities and recurring billing through billing schedules. Complex pricing and billing models and revenue allocation are easily managed, and are billed and recognized 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 can be used independently. Alternatively, all three modules can be used 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.
Subscription billing is enabled through Feature management. However, it can't be used with the Revenue recognition feature. Therefore, 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.
The Subscription billing feature must be enabled before you can enable any of the three modules.