Does QB recognize revenue under ASC 606?

Hello WWController, 

Thanks for reaching out to us here in the Community. Running a business when new regulations are released can be hard to adjust to. I'd be happy to help clear things up on our end. 

At this time, QuickBooks Online isn't equipped to automatically handle revenue allocations for the new ASC 606 structure. This is something that you'll have to track outside of the QuickBooks environment. I'd recommend reaching out to your accountant to find the best way to ensure you're within the rules and regulations for a Saas company under ASC 606. 

QuickBooks Online is here to help if you're not yet working with an accountant. You can find a ProAdvisor accountant user directly within your account by clicking the My Accountant tab from the left navigation menu. You'll be able to search for accountants who are trained and certified in the QuickBooks Online software, that are within your region or city. 

If you have any other questions specific to the ASC 606 revenue recognition system, please don't hesitate to ask. I'm here to help.

Cheers!