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On the other hand net revenue or net income is calculated by deducting taxes and all other expenses from the gross revenue or income.
Revenue means gross or net. Let s understand gross vs net revenue with the help of a simple example. Net revenue is gross revenue less an allowance for discounts and returns on sales. Although net revenue and gross margin are useful internal figures external parties care most about net income. Gross revenue is the total revenue that a company earns during a specific timeframe.
Gross revenue is the income generated by a company through sale of goods after adjusting for cost of goods sold production costs without any other kind of deductions taken into consideration. On the other hand net revenue is gross sales less allowances and returns. 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 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.
All the income that a company generates from the sale of goods and service comes under the gross revenue. Net revenue or net sales reporting only lists what s left on the bottom line calculated by subtracting the cost of goods sold from gross revenue for the same shoemaker. Your management department may make decisions on whether to continue selling a product based on the gross margin of the good.
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