Contra Revenue Business Definition

Contra comes from a latin contra meaning against or opposition contra revenue account usually means a deduction from the gross revenue which results in net revenue. Contra revenue is a deduction from the gross revenue reported by a business which results in net revenue. A contra revenue account is a revenue account that is expected to have a debit balance instead of the usual credit balance.

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What Is A Contra Revenue Account Bookstime

Contra revenue transactions are recorded in one or more contra revenue accounts which usually have a debit balance as opposed to the credit balance in the typical revenue account.

Contra revenue business definition. Contra revenue is a difference in gross revenue and net revenue usually has a debit balance and is a helpful tool for the company to know the product specifications whether it is optimum or not as per customer requirement. Knowing the balance between gross revenue and net revenue and the cause of difference will surely benefit your business. In other words its expected balance is contrary to or opposite of the usual credit balance in a revenue account.