Since Unity 4.3 you also have to enable External option from preferences, so full setup process looks like:
- Enable
External
option in Unity → Preferences → Packages → Repository
- Switch to
Hidden Meta Files
in Editor → Project Settings → Editor → Version Control Mode
- Switch to
Force Text
in Editor → Project Settings → Editor → Asset Serialization Mode
- Save scene and project from
File
menu
Note that the only folders you need to keep under source control are Assets
and ProjectSettigns
.
More information about keeping Unity Project under source control you can find in this post.