How do I enable Revenue Recognition in QBO? I don't have it as an option in settings.

Welcome to the Community, Bob.

Let me share some insights about Revenue recognition.

The option to set up a revenue recognition is only available in QuickBooks Online (QBO) Advanced. With that in mind, consider upgrading your subscription.

Afterward, when you're done upgrading your subscriptions, you can enable the Revenue recognition. Here's how:

1. Click the Gear icon.
2. Select Account and settings.
3. Click Sales.
4. In the Products and Services, click Edit.
5. Select Save, then Done.

Feel free to read this article for more details: Set up a revenue recognition schedule in QuickBooks Online Advanced.

You can run a report to see the summary of your business's financial status.

You can always ask your question here by hitting the Reply button or starting a new thread. Keep safe!

@bob_bragdon-risk 

You don't need to upgrade to Advanced to do this.  Save your $1,300/yr.  You can use recurring transactions to create a sales receipt or invoice to automate the entry.  All you need to do is create service products for both the deposit and the service (you probably already have the service product).  When you create the service product for the deposit, under 'Income account' select the same deferred revenue liability account that is assigned to the deposit.  Then, you can create a recurring sales receipt/invoice (Settings > Recurring transactions) that has the service product (revenue account) as a positive amount and a second line item that has the deposit service item (liability account) as a negative amount, netting to $0.  That will book the revenue and reduce your deferred revenue account based on the interval (monthly, yearly, etc.) you select.  Hope this helps.