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In accounting net refers to adjustments made to the original and therefore it can be calculated after adjusting gross revenue with the discounts returned products or any other direct selling expenses.
Net revenue in accounting. Your net revenue or net sales is the total amount of income you earn from business operations minus any adjustments such as accounting for returns refunds and discounts. Say your company had a good month and sold 500 products at 100 a piece. Profit also called the bottom line is what s leftover after all expenses including discounts returns cost of goods sold salaries wages and overhead and. Recording revenue at gross means that you record the revenue from a sale transaction on the income statement recording revenue at net usually means that you re only recording a commission on a sale transaction as the entire amount of revenue.
If a business uses cash accounting revenue is recognized when a product or service is paid for which may be after it is sold. If there isn t strictly a commission you can still report revenue at net by netting the amount billed to the customer against the amount paid to the. But the exact timing and thus the amount of revenue listed on an income statement depends on a company s accounting method. Net revenue is defined as a company s sales revenue minus discounts and returns.
What is net revenue.
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