We do not provide a Page Layout for Product2, there is only 1 new field “Schedule” so please add these field where needed. Any Products that you want to use need to have a Schedule selected.
If you are going to Sync with an Accounting system like Quickbooks online, you need to also set the Income Account field on your Products to exact match the name of your Income Accounts in your Accounting System. In Quickbooks Online these are likely:
Once you have some Revenue Recognition records you can checkout the report:
You can easily import all your existing contracts. If you create import files for the Contract and Contract Items, you can change them all to Approved. They will automatically generate Invoices and Revenue Recognition. Then change the Invoice status to “Historic” so they will be ignored when syncing with Quickbooks Online.
If you want existing Opportunities to update these new Contracts, you need to associate the Opportunity with the Contract before you mark the Opportunity as Closed Won, so it knows to update that Contract.
Once everything is running smoothly, contact us to complete this portion of the setup.