Net sales

Definition of net sales

What are net sales? Net sales are the sum of a company’s gross sales minus its returns, discounts and rebates. Net sales calculations are not always transparent to the outside. They can often be taken into account in the declaration of higher income declared in the income statement. Understanding net sales The income statement is […]

Net revenue

Gross Revenue and Net Revenue Reports: What’s the Difference?

Gross Revenue and Net Revenue Reports: An Overview Recognition and reporting of income are critical and complex issues for accountants. Many investors also report their income, and the difference between a small business’ net and gross income can have significant income tax implications if mishandled. There are many gray areas in both accounting and reporting, […]